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That would be great, as they could link industry players into the IPO. Will not be the first time banks do matchmaking.
Marine Harvest is extremely bankable, know industry, solid track record, class investors etc.
So we need more time and also China is not Nordics. But I would guess all signed in mid February.
You just made me realize something. When they dropped PR on Pearl Grouper this summer, they where NOT ahead of their game, carroting. At that point it was concidered as BS by some, but its already delivering business!
I am thinking about looking into the balance in general, like writedown of SJAP shares (or if its VIE, maybe a inventory writedown of fertilizer would do the trick).
I guess writedown losses won't eliminate dividend tax, or?
Syndicate is very normal. I.e Marine Harvest refinanced this summer by a 6 bank syndicate.
https://www.kluge.no/aktuelt/nyheter/2017/kluge-bisto-marine-harvest-asa/
$100 is roof, and it could be lower if in theory the board in one bank turns it down. I think that wont happen.
Five banks also gives flexibility regarding further finance needs, i.e increase of loans and postpone IPO.
The banks will provide us some "external management" support and covenants to keep them focused and avoid new ventures, aka loose money.
He he. I would advice myself to spread risk, like the lenders do. Remember that they have not acted like a $800 mill company. In communication, operations or financing. So I would still rather buy some shares AFTER milestones are reached. And FYI, I am a manager, not a owner of my workplace.
But I believe them regarding the loan and can't see banks backing out now. Even service businesses get loan without having assets. Its about confidence in operations and cash Flow. And they say TRW will utilize capacity while expanding. I think they might finally have got it now.
If anything, I would advice our entertainer "Zero" to understand the conversion of the company. We are hopefully on floor level now, and I can't see him stay short. Its madness.
I am now 90-100% sure we will have the loan in Q1. I always speak my mind (and my mood) and after the CC I am considarably more positive towards financing of TRW.
I have done syndicate refinance with much larger loans then the one they are working on. WHEN a bank suggest to syndicate the financing, this lead bank has already (at administration level) decided to work for a positive outcome. The lead bank will concider risk spread based on loan size, sector expositure, case exposure, other specifics etc.
The invited banks will work together with case analysis, like Dan said. The way he correctly described the process and time frame, makes me believe both that they actually are in the process and that they are at the closing spot.
The boards will receive formal approval requests from administration and risk committeès, and they generally have 1 board meeting a month for review of loan applications.
The choice of 5 banks (lead + partners) tells me that the risk is considered moderate to high. And/or that the banks involved are not big banks. I think they view the security being offered by TRW is limited and wish to spread the risk further. Having 5 sources is ok, but slows things down. Worst consequence is if you get into default and need help. In such case 5 banks makes it more messy.
When I wrote the post you refer to, I was so frustrated with CEO/CFO that there was no room to give them anything. Today I am more positive, because I now think recovery of my losses are closer.
Of course they are the ones mostly involved with financing, but I am sure that the indian guy and Tony have given credibility towards succeeding in the aqua business.
I want to wait to congratulate CEO/CFO and fellow shareholders, but I was close to do so in this post.
They earn more:
Thanks KS, great job!
KS, could you pls post a little something on Hegnar & Shareville regarding the CC and call info including Norwegian timetable? Thanx
Well, SIAF would still own >18% of TRW and just by this have the same value. And SIAF also has accounts receivable from TRW and custumers, CA projects, SJAP potential AND SIAF will still be tradeable while waiting for TRW to go live. And appreciation of TRW would lift SIAF up high.
So personally I have changed my mind about selling SIAF after ex-date, and I have the funds to carry on and even accumulate. Would have been nice to get a Christmas Gift during the CC now :)
Good list Pho. I could add pro and cons. Think its ironic that if this was a scam for the sake of selling shares, you would se more interest in hyping PPS. They on the contrary don't seem bothered. So there you have a pro.
And the indian guy, Tony and even Dan are people I would not expect to get into stuff. Actually, I think in such a case that they would possible be victims themselves. Can't see that they would go along on stuff,even though I am still looking. Still think everybody is hoping for saviour from TRW earnings, so that some of the agricultural bookings go in the background.
They should now move forward without the loan. Plan B. In my company we say that you only get loans when you dont need them... Just show the world how to make money and grow, combined with dividends.
And how about next generation taking over now. Daughter of the CEO could be looking for a position? New blood. Around sixty? Ha ha.
On the CON, I really am angry about still no TRW dividends. Its in their hands. Just do it. Dont need a loan for that one.
Yes, just wondering now from some posts that it could turn.
He need to catch the train and earn money to his employer, and the share seems grounded at todays levels. No volume. Hardly any downside left, and even small news can do big stuff now. He must see it.
Ok, I have seen this board as a shareholders community and have gotten fantastic support and good answers to many questions (RD especially). Some of my post are far to positive, and after discovering new words like chiscam etc, I started to look for possible evidence.
And with no relations to the company or answers from IR, I have not regarded them as a possible source for answers. One thing around this "truthseeking" is the wear on longtimers - I have not been taking that into account. Concering "shorters", I really only see Zero, and he is like a comic relief in here. Most posts are pure entertainment and he has in previous posts admitted shorting SIAF. BUT I also noticed he said something about 90% chance of scam, which means he now is condidering this might be something else... This is the reason why he is still around IMO, because he is not sure anymore. Don't think the stock can fall more and there is so low trade activity that it's not possible to short, or?
I have now posted some questions to IR and will share if they respond.
We all know this company is involved in real activities, but stuff could still be going on. When the spin-off was PR'd but didn't happen, in combination with evalanche of shares being traded, I started to get a bit paranoid. Still have thousands of shares and HOPE this is still a misunderstood and undervalued company. Even Zero is considering to jump on board now IMO!
Thanks KS.
I will send a few questions to the CC I think. And spare this board for other findings, its just seen as short interest. I have actually never shorted anything in my life. Dont like the instrument at all.
He sold some to his wife just a month ago. Never saw that on Merkur.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12395677
I have sent several emails to both IR and KCSA this year.
Never ever got a single reply. I will share if/when i do get one.
I refuse to call them, because I have a week spot to trust people just by having a nice conversation. So to keep my objectivity, I don't ever want to meet them.
On the NSC1 form, you find the address to be in Belize. Think it was TS that posted a printscreen of the owners.
On linkedin, Dan appears to still be President of The Business Advocate. Not for me to answer if he owns stock, but obiously he can not be on both sides of the table if thats the case. Conflict of interest. We need people who 100% care about our interests, and don't represent business partners in any way. That would be totally unacceptable.
I wasn't aware of that. We need to follow closely the best we can. I want to trust them, but they are reporting sky-high assets without any inside trade (except small sales). We all understand that this is strange.
Is there some sort of exception for inside trade reporting on OTC?? On Merkur I am not aware of such, and believe it should be reported. But the Nisse-sale never popped up on Merkur/newsweb.no
snow, I can't tell. And I can't tell you the value of the MF site and buildings. Hell, I don't even know if they used $100s of mill on this.
But I think we should question TRW ownership. It also fits into my questioning around no-show from 63,4% owners regarding BOD representation.
Its pretty basic to adress 4,5% ownership held by inactiv company were Dan was president. Not possible to lend money if the ownership is fake. If Dan suddenly is a 4,5% TRW owner, they have stole the assets from us. I get really worried about this company now.
Just made a disturbing discovery. To my BIG SURPRICE, I now - by coincidence, see in 10K (page 87) that Daniel Richey (CFO) was President of The Business Advocate before joining SIAF.
I have earlier posted my background check on the TRW owners in HK, and remarked that Belize company "The Business Advocate, INC" holding 4,5% of TRW, is inactive.
(Also in the 10K page 3 I notice the wording "green & natural agriculture...", and a 3,2% owner of TRW is "Green & Natural Agriculture Limited). This could be a coincidence, but:
I now wonder:
1. Is the TRW spin-off a clean spin-off or a asset robbery?
2. Are the TRW partners for real, or is SIAF behind the whole thing?
3. WHY HAVE WE NOT BEEN INFORMED THAT "OUR" CEO HAS CONFLICT OF INTEREST REGARDING TRW SPIN-OFF?? (We were all calmed by the write-up they did based on the non-communicated D&B report).
TRW:
36,6% SIAF
32% SIAF HK
4,5% TBA, Belize = Daniel Richey?
Rest held by companies with same adress as SIAF HK.
At least we must understand the risk.
I.e this year I bought a lot more to leverage my losses when the D&B report and the TRW dividend came out.
And after that we had the AGM-teaser.
And the mega-loan teaser.
I now fear the only motive from the company was to stop steep fall in shareprice, only to be able to dump collateral shares. We never got information about loan default or no explaination.
Actually "funny" to read this post written before they stole all assets in the swap: insert-text-here
Also, their last filing with 90 pages. All so detailed and transparent. And one person over 83% in top structure. Running for years. Did they just disappear? Swap described as clever... P/E at 0.02. Makes you think.
At least, now I see why you are so SIAF sceptical. Easy to drain our assets if they want to. So many parallels. Our only safety is our TRUST in management. OMFG!
10% of booked capital is $80.000.000.
Good job everybody is running in circle waiting for that loan.
I would just find it in my assets.
Ok, good. Then I would read this as loan approved but not formally committed in banks Boards.
If that is the case, I would be very surpriced. Or impressed. And I would honor Tony for most of it.
Less than my name suggests! :)
I was just involved in a project, as co investor only, where we used three months to prime bacteria filters before adding fish.
Its about building biomass of bacteria to cope with planned production levels. But Im not very into details since Ive most been into "top-down" positions.
Regarding the released info, I like their flexibility going forward and it seems things are put in right order depending finance.
But, I dont at all like the co-op talk at all. More cash stuck with poor farmers with outplayed open dams, and selling product to customers with loooong credits. Do you agree or am I wrong here? I understand profit possibilities, but fear cash flow effect.
Any comments around the auditor loosing his licence after years of SIAF audits? And they took over from another that lost their licence for not performing audits according to the standard.
We now have ECOVIS (?). Any views about them? Will they be next?
They have responded to Undercurrent now. Check Facebook /Sino
Same date? Maybe they are out of business there :)
And again, we can blaim banks for being slow with loan, but where is the CFO? Cant blaim banks for that one.
Lol, Hope the $100 party refers to PPS and not my future account value.
Is that even possible? To Hilde share increase? Hope you are joking
No, and I have never met any of them. I just hoped it was a misunderstood stock with all prospects in place. I have never had any idea of share price level. Only hoped to see 2-3x at least, to reduce some loss.
Its painful. And aqua on the rise globally, still not one single external deal for CA?
Well, I had to reduce to move on but still have thousands. Just in case.
I sold a lot the day I read the article. Thought they were just ready for upscale, but suddenly it seemed as R&D fase.
I came in with Merkur. Increased heavy when TW dividens was announced, by selling $30.000 bitcoin... By the way, were are the TW dividens?
Will keep some, but it feel naive of me to expect to be saved by the same team who got me here.
Also weird to expect megaloan without a CFO in the company. Can that really happen? And why does a $800 mill company pay people in shares?
And why did the CEO want his shares to be fixed to dollars and not share count, if this is the buy of the century?
But I dont have knowlegde or connections like RD and TS around this company, so you should listen to them.
Sad to read your post.
And I think too much business has been done between internal companies and everybody else seemed to be financed by this company lacking cash. And into building balance.
When we claim spin off, we suddenly see the abbotoir in SJAP closed on environmental ground. Thought it was new 4-5 years ago. Where is plan B now the loan is missing? No pre IPO process?
And media killing CA credibility?
I have reduces now and taken som heavy loss. Had to get rid of some frustration. Then again, I dont have patience to stay for 6-8 years. Not for me.
But I have kept some thousand shares. Just in case.