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George Yap on the frontpage of Finansavisen tomorrow. They have a article about how shitty the Merkur companies are doing. Says nearly nothing about SIAF, they mention Hanson aka the crybaby.
No. They reported their new holdings. Down from 1.1 mill.
I think the 320.000 got all the attention. Maybe that was the purpose :)
I do. In Q1-17 you see Garrett holding around 1,1 mill and Rochdale around 1,2. Add 0,3 mill and you don't get 17,1%.
Millions of shares are unaccounted for.
What is it YOU understand?
Is it so, that by combining Garretts old private shares and Rochdales, we suddenly see 17,1%? Show us your math.
KS comment must be read in relation to the post from Mark. That was my point.
Anyhow, I agree. We lack information this. It can't be collateral being held due to default. Garrett has never had collateral he wrote in a post.
Snow misunderstood your ironic answer to mark:"And now D’Alessandro is questionable". He answered, and you lost track of where he got his wording from :)
He did. Only formality left. All questions answered. Met with all five ceo's. You don't walk from that and suddenly have nothing.
But we don't need the loan. They have told us. And it's correct:
A) operational cash flow +$200 mill 2013-2016
B) capex around $240 mill 2013-2016
A is down these days but B too. B should be close to zero. And TRW is profitable at around $30 mill annually. So Let's just build stone for stone.
And the shareprice already tell us that the market only values 3% of the book. And that should not change before we get the loan to speed things up. If they get it, they must provide a dual PR together with the lead bank and link to it published on the banks web site.
Why is it no surprice? Don't we need them anymore?
O/S up again today.
29,896,875.
Could it be Garretts 320.000 coming into the count? Then we should see around 80.000 more.
Ok, that is very strange. I believe Garrett will add resources into the board or management soon and support his 17,1% stake. This is by far a one-man show.
Ok, I got that impression from their Q3 PR.
http://sinoagrofood.investorroom.com/Q3-2017-results
Overview
The underlying conditions impacting performance in the second quarter continued in the third quarter, namely:
Sale of goods in the aquaculture sector is discontinued, having been replaced by a single income line item below the net income from continuing operations.
Tri-way has restricted capital expenditure for purposes of expanding production capacity and sales until it has successfully sourced third party funding.
Depressed pricing for the local cattle and beef industry brought on by relaxed import restrictions first from Australia and then the U.S. and Brazil has had a deleterious effect not only on SIAF subsidiaries’ live cattle sales and gross margins, but also on upstream and downstream revenue sources: livestock feed, fertilizer, and deboning of imported beef.
Did they ever respond to your formal complaint around "adjustment" of the share incentive program?
China might restrict beef import from the US as a political answer to the recent import taxes announced for US import of solar panels etc from China.
Hope our most respected CEO in such a case, is able to keep the hands of the Capex pedal and finally build some cash.
We used to have something called a F1 process. On the 17th Aug 2017 it was PR'd that it was "in the process of completing..". Help me out here - what is going on? Was this somehow connected to a 3Y review by SEC?
So how about giving us the "the OBVIOUS HORRIBLE SORDID NASTY EVIL truth" on WHAT your interest in this share is? I have asked before. Or are you only here for good cause? Like mother Theresa?
Chinese aquaculture giant splurges $161m on condom firm
And todays surprice: it's NOT solly!
https://www.undercurrentnews.com/2018/01/16/chinese-aquaculture-giant-splurges-161m-on-condom-firm/
challe, why don't you expect them to round down their filed % holding, i.e 17,1% might really be 17,15%?
Okay. Then we have 29.654.875+320.000=29.974.875 and 5.141.831 of that, will be 17,153%. I agree that could explain it. And the increase has happened sometime between 7 Nov 17 and 19 Jan 18. If these are new collateral, I don't see why they couldn't be sold already - RD, could you please explain the warning?
From Garretts filing, you would calculate 30.069.187. Could it be that around 0,4 mill collateral shares has been returned to the company since last share count (7 Nov 17)? Would 0,4 be an expected amount if there is no default?
edit:
I am suggesting that last share count (7 Nov) was not updated, so that we in reality had 30.069.187 when Garrett filed (2nd Jan 18), and have now gotten 0,4 back from the lenders.
New update on O/S (at last): 29,6 mill now (+ 1 mill).
Still, this does not seem to be correct if you look at the Garrett filing.
I think I'll pass. The message does not bring anything constructive to the table. I appreciate your initiative though. The timing is a bit early as I have guessed mid February as a max time frame for the loan. And if they don't get the loan, they need to present plan B.
I would advice you to re-read the great notes from TS from his meeting with the ceo last autumn. He asked a lot of very relevant questions, and you might find some comfort in the issues he raised.
And...
6. Date for establishment of Board and management in TRW, as it currently is just SIAF people repeated in a new ltd
7. TRW dividend distribution date or deadline
8. Info on management and staff in CA, which should be ready to spin off now
If you add two of these, I am in
But RD, how can we expect them to buy the same stock they seem to pour out into the market?
- no explanation around Garretts share jump
- no more updates around o/s, and last update is incorrect now (illegal according to Merkur I would think)
- still no AGM
And for my sake, no answer on any mail regarding ownership in TRW. IF this spin-off is proforma (as it is regarding management), then a loan was never meant to come.
Dan has, by his detailed description, more or less PR'd the loan IMO. The only thing I found strange, was when he said they have met every CEO in the five banks. That is not typical from my experience, and I am not sure if he understands his liability here. He has given every investor the impression that he is a part of this loan process.
The funny thing is that the fixed $ value, after modification, will this time prevent him to gain X10 on a reverse split. Get me?
Just a rough figure for all companies, ex TRW. Due to long creditlines and complex flow in SJAP, its hard to tell. Should be 10-30% of yearly revenue in order to avoid grounding. Also, revolving credit is part of this estimate.
Let's just agree that visibility is not good, and to navigate with todays liquidity is not possible. Too much time goes by chasing money. The loan could change this...
Funny thing is that our old IR dude Chad Sykes, started a otc mariuana company where he is responsible for operations. And Dan Richie is/was also involved but just a couple of years ago while working for SIAF. Consulting maybe? It's called Indoor Harvest, www.indoorharvest.com.
So there you go.
We can't even consider it without liquidity like today. This company should have $30 mill in cash in order to run smooth.
Fully respected empty. Have not seen a threat from you simply sharing. But regret you will not be around. It's up to the talkers to deliver before it happens.
Any idea how and why Alessandro jumped from 1 to 5 by buying 0.3'..? Just ca figs.
My original post on this was a complaint about SIAF not PR'ing changes in Directors (and other stuff). What is the plan for SIAF Sweden if this position has been vacant for 6 months according to a post?
PS! I don't support your claim about inside information or previous collaboration with DNB, just because he got a new job. Not surpricingly would he start in a bank, right? IMO, you should withdraw your comment if it's only wild speculation. His profile does not support dodgy stuff.
I'm not a trader, but notice the spread in Oslo with 0,02NOK in distance.
Robots taken over here, or? Never seen such an artificial spread.
Robots waiting for the mega loan :)
1 4,0T S 8,100 8,140 K 1000 1
1 8,0T 8,040 8,160 1000 1
1 10,0T 8,000 8,200 1000 1
1 70 7,940 8,240 68 1
3 6,6T 7,920 8,260 68
I wrote it. According to his LinkedIn, he went to DNB markets.
I would like to see some update soon:
* replacement for George Yap
* replacement for Erik Ahl and maybe it would be too much to ask for a PR as the SIAFS is now without employees if Im not wrong
* updated share count, as we know it's not correct
* target date for CFO and CEO in TRW
* structure within CA: is it just an empty company or do we have a team to sell projects in "Afrika, India and Vietnam" as indicated by the KFCA, according to a poster. Or is the only asset in CA a 75 year old accountant with a track record of destructing shareholder value?
* AGM date
* statement around CEO salary, as it seems to need reversal
* harvests in TRW Q4
* update financing status and pre IPO plans
* update homepages and remove people who have quit
* info about how Garrett got his holdings
I didn't forget KS; I trusted you would still be up - just 20:33 Norwegian time ;)
I now found the source of this comment. It's from TS' phone call with Solomon, post #120099:
I was referring to the second part of the post, below. On that post, listing etc etc is before cash dividends in SIAF. And my point is that this is not what the company has laid out regarding expectations. We understand that a loan for certain will make it possible to fulfil expectations. But I still won't rest on the fact that the current $800 mill balance is full of opportunities for sale of non-core, sale-lease back, claim receivables etc. Remember the PR about TRW dididends, AGM agenda, no more dillution etc. All of this has made several posters here, strech their investments to finally try to reduce some losses and get paid. Instead they get told to get a reality check. Thats arrogant. You don't run a $800 mill company and can't find $2 mill for cash dividends. That's rediculus.