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It does matter in my opinion, how ever, I don’t care to much about these technicalities.
Another thing people should remember, since it’s not SIAF giving a dividend, SIAF will not issue a PR, it has to be TRW.
I saw someone asking about how the trading with the TRW shares will work. It is getting more and more popular to use Private Equity Secondary Exchanges. I have no experience with it, but I know that they are very illiquid... but it works. You pretty much have to find a buyer of your shares yourself in order to sell them. But I’m our case I’m expecting that SIAF will direct everyone who is interested in investing in TRW directly to the chosen platform, so it might end up quite ok anyway. And I would expect them to chose a platform that is available for Chinese investors as well.
If Triway is the company giving a dividend, does US exchange rules apply?
I have seen no filling claiming that SIAF own less than 36.6%.
SIAF deaclared early that the carvout was a done deal, but the share reagistration by TRW was not finalized until a much later stage. So the ownership jumped from back and forward between 23% and 36% in the SEC fillings until the ICRIS filling was official.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136333443
I'm not aware of any new ICIRS filling about change in share capital since the filling above was official, so the current ownership must still be 36.6%.
The 18.3% figure is familiar to me, I'm quite sure that these are the shares that the partners intended to "IPO" with the Hong Kong listing in order to be able to bay back the debt to SIAF.
I have been off for quite some time, but RD can probably shine some light to this.
Exactly my thought when I read it.
What's the purpose of this?
The share price decides. Yes the upper limit is 2 666 667 shares imo.
The lesser of the two choices today is using $1.5 conversation price, using 65% conversation method gives more shares not less.
/just notices that you edited your post
I'm a bit confused about the choice of words here "lesser of", what does that mean?
"The conversion price for Primary Optional Conversion is lesser of $1.5 per share or at 65% of the market share price of the Company."
Does it not mean lowest conversion price is $1.5?
Shawn Anthony Mesaros from Seattle was in business with SIAF and was caught trying to fraud the company, so Shawn is SIAF realated. Sino Agro Food, the company Shawn Anthony Mesaros was doing business with had to put out local news adds in the local Hong Kong news papers warning for this fraudulent person. This resulting in Shawn Anthony Mesaros took a life commitment to black paint Sino Agro Food.
Every time someone or something related to Shawn Anthony Mesaros is posted here I will put out a new reminder of a crime Shawn Anthony Mesaros has committed or been charged for including his former relations to Sino Agro Food.
Shawn Anthony Mesaros from Seattle failed to pay child support of a lousy $2000, does not sound like a successful business man.
Did Shawn Anthony Mesaros from Seattle loose control of PAMRIA from his unsatisfied judgments before or after he tried to fraud SIAF?
Did Shawn Anthony Mesaros inform SIAF that he was suspended by FINRA before trying to fraud SIAF?
If they have asked to get interest in cash and SIAF don’t have the cash, printing shares to settle the interest instead is very handy for Solomon.
Paying interest with shares to ECAB is a much more likely scenario imo
Still waiting for you to comment on Shawn Anthony Mesaros and Pamria legal charges.
https://dfi.wa.gov/documents/securities-orders/S-17-2348-17-TO01.pdf
Ask Zero
He has been busy
Is this something you want to comment Zero?
And that is why we need the Hong Kong listing.
We are trading at 68c.
1 Norwegian krone =
0.1284 U.S. dollars
See the picture on the first page.
Arne Fredly: "Fratatt pengemaskin?" "Stripped of a money machine?"
Notice the question mark, not an exclamation mark
https://finansavisen.no/eavis-enkeltkjop
As I see it, Fredly is trying to paint a black picture, but the journalist is does not play his game and is balancing the article, as he should do.
Actually, I expected Fredly to be better prepared then this when starting his public trash talk.
When Sino Agro Food listed in Oslo they attracted with with a shrimp production that would be super profitable. It is, but the company now only owns crumbles of it.
- We have been robbed on the seafood company, including the shrimp production.
Finansavisen wrote on Tuesday that the billionere had reported Sino Agro Food to Oslo Börs, Finanstillsynet and SEC. The Fredly claims that the comapny has broken a number of stock exchange rules. But he is mainly pisse of over that the investors has lost the ownership of the shrimp company Tri-way.
- Triway reported to have made $23 million after three quarters, which is equivalent to $30 million for the whole year of 2017. The expected result for 2018 is $50 million, I've heard says Fredly.
But just a small part of the surplus falls to the Sino Agro Food stock holders.
Hiding the owners
Sino Agro Food has in fact separated the company from the Group so that they now only own 36,6%. Half of this owners ship was flagged to be distributed to the stockholders, but that has not happened. In the meantime the stockholders are being diluted as the shareprice falls and the company must steadly give out new Sino Agro shares as security to the lenders.
That Tri-way would be separated from Sino Agro has been addressed from day one, but most investors assumed that it was the Sino Agro stockholders who would benefit from it. Sino Agro has no information of who owns the rest of the 63,4% of Tri-way.
- Sino Agro refuses to inform who is stockholder in Tri-way. I'm sitting on a prospect that Salomon Lie/Sino Agro Food has produced confidential to Development Bank of Singapore, where they say that they own more then half of the 63,4%, says Fredly.
Only 36,6%
A Stock Exchange Notification of the separation of Tri-way was announced 1 Mars 2017. It was informed that the company had a value of $340,6 million which includes the value of the 4 seafood farms that Sino Agro was just part owners .
Sino Agros part of the separated Tri-way was settled to be $124,7 million, representing 36,6%, which would give an accounting gain of $53,5 dollar.
Even though Sino Agro elaborately explained how the gain of $53,5 million was reflected in the income statement, none of the following quarters showed any trace of such gain.
The rest of 63,4% belongs to the former part owners of the farms.
"The interest in Tri-way is a proportion of Sino Agro ownership in the underuing value of the seafood farms that was transferred" says IR-representative Peter Grossman in an Email to Finansavisen.
"Megafarm"
During the winter two years ago there was no doubt that that it was the shrimp farm development that attracted the Norwegian investors to Sino Agro in connection with the exchange introduction at Merkur Market in Oslo.
"According to the scientific director Andrew Ostronowski, Sino Agro Food has a technology that can produce 114 times more shrimp per area unit that hat is produced traditionally in outdoor farms", Intrafish wrote.
"The biggest project of the company is the Mega Farm of shrimp a vegetables in the Guangdong province in South China, the goal is to build a gigantic indoor production plant that could produce up to 300.000 tones of shrimp a year in 15 to 25 years.", says Finansavisen and:
"The enormous shrimpfarm has an estimated price tag of $2 billion fully built out, and should deliver more shrimps then Vietnam all together."
"Enormous volumes"
Swedbank assisted Sino Agro with the listing on Merkur Market.
"The company has not said anything about when the seafood part will be divided, or commented about any potential future capital needs. But yes, they have invested allot, and has to think about how to improve the cash flow over time" said Marius Gaard before he continued:
"At full production we are talking about 300.000 metric tones, but 200.000 tones is probably more realistic within a ten year period. Compare with Marine harvest who produces 230.000 tones salmon in Norway, so we are talking about large volumes"
So the villain is clueless
But this scares me - "I'm sitting on a prospect that Solomon Lee/Sino Agro Food has made confidential to Development Bank Of Singapore." How the hell did he get a hold of that?
Would you mind post the a copy of the article?
So the first article didn't work as he expected so he gives it another go. Very interesting times
But I have to say that most that was written in the news article in Finansavisen was quite legit claims imo, the information regarding the loans, collateral shares and issuing of shares has been horrible. So I actually think that is was good that the article was published, this will force Solomon and Co to improve the information flow in the future which is never a bad thing.
50% up on no volume. I really hope that either the Norwegian villain is short up to his teeth or that collateral has to be bought back... there are no real seller down here...
Cover cover cover... the "hit piece" did not work so well
Greed. But I don’t think he is only here for a hit and run, we’ll see how this will play out.
SIAF will not get delisted because of Fredly. The SP and volume action the following days will be very interesting.
You who are in contact with me outside this forum knows that I have been speculating about his involvement in the SP crash for some time. But I have not publicly addressed my concerns or what I know because of the villain reputation of Fredly, he scares me.
So Fredly is finally about to cover?
They are waiting to get the 10K/a filed for 2016 before doing the proxy for year 2016, in that meeting the dividends and buybacks will be discussed. The company is not buying back share because they don't have the money for it yet. Once they have the money I sure that you will see some of that action.