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I guess KF is our Zero in Norway, and on that account you're not allowed to transfer stocks in our out - only cash.
I don't hold any of my shares on that account, but it does seem to be a gamble then - not on a survival of the company or of its listing, but whether the OTC-risk-rules will change so that you can trade it in a KF/Zero again.
To me that seems like an unpredictable risk, so considering moving them from the KF/Zero to a regular account (with Nordnet or somewhere else) seems the better option (but that depends on the tax situation and whatnot as well).
Yes, it is a bit alarming that Nordnet decides to do so when the combined amount of shares held in Nordnet it that high a % of the OS.
Still waiting for them to reply to me whether they will allow me to keep them with them as long as I don't plan on selling (or buying).
Do you know of any brokers that will accept them?
Not much to write about when there is no news, and Scamalon Lee uses the pandemic as an excuse to delay reporting even further.
Didn't expect Fredly to take more action after the settlement, but what about the others? Are they waiting patiently, given up or putting more pressure without us knowing?
Solomon knows how to attract scumbags...
Does this mean that Fife (Illiad) is not allowed to sell shares until the verdict, or can he hurry and dump the shares before the verdict?
Maybe you want to forward this to our transfer agent, just in case?
I believe you mean 3 to 4 WEEKS...
Last SEC-filing on their website was on December 9th 2020;
http://sinoagrofood.investorroom.com/sec-filings
Last PR on their website was issued July 31st 2020;
http://sinoagrofood.investorroom.com/news-releases
Even the delisting update on the homepage is less than 1.5 years old
http://www.sinoagrofood.com/
(however, you should click the "investors"-link to get to investor-related news/updates)
With regards to Peter; My experience is that he only replies to flattery or neutral emails. He will not reply to harsh emails or (reasonable) emails with difficult questions
And with regards to SIAF; It is not at good sign that they haven't reported yet. I think Solly is using the pandemic as an (originally valid) excuse for the delay.
Could be interesting to see if the 1M shares to Fredly/Apollo shows up (might not show up until next year though), and if so; from where have those shares been taken from... (from the explanation that Solomon/SIAF gave last time about who owns what, Solomon shouldn't have any shares in TRW until the distribution is set, and the 1M shares to Fredly is supposed to be from Solomons own shares)
Is anyone familiar with him? (besides what's written in the filing)
Does he have any connections to Fredly&co, or is it just some random person that Solomon has suggested and they approved?
Fredly does (or did), but I seriously doubt that he has been buying any shares the last x months/years (if any I would guess he has sold since he has gotten his TRW-shares through the settlement).
Too bad it wasn't Fredly who initiated the lawsuit, because the way it was set up it wasn't ment for retail (with the fee being as high as the PPS was at the moment).
Yes, especially the TRW distribution on Merkur. Solomon should have been ripped to pieces (or at least his whole stake in TRW, and his CEO-position there).
The seat at the board will show us the direction SIAF will head. Hopefully not another nisse!
I do believe that Fredly thinks there is value in TRW (why grab shares from Solomon if they are worthless?), but this actually does seem to be about the moral highground;
My post was a reply to Fredly having available money, i.e pouring more money into SIAF. I can't see that happening (although it is most welcome!)
Actually, from the comments in Norwegian newspapers I wouldn't be surpriced if he walked away (his motivation seems to have been to get even with Solomon, and that has been achieved), but the seat at the board is encouraging. If Fredly were to put someone very close to him there then that would be bullish, but my guess is that he'll leave that decision up to Hang Ren (which isn't necessarily bearish).
Trader; If you read the interview with Fredly it seems that Fredly wanted to get even with Solomon. Stripping him of TRW-shares seems to have accomplished that.
Also, if Fredly is to put more money into this failure - which I seriously doubt - then he would be better of putting the money in TRW than in SIAF.
We do have the seat at the board though. How this is filled (i.e who) could be an indication of whether I'm wrong or not
snow Yes, appearantly. I forgot the exact wording, but the settlement states that Solomon will transfer his own shares in TRW
I don't think Fredly will put another dime in SIAF, he got his TRW-shares and also made Solomon pay.
I am very curious to see who will join the board though. I doubt it will be any of the plaintiffs themselves, but it will still be very interesting to see
Nice.
Could have added three things to the list; 1) The ex date for TRW-shares on Merkur being cancelled retrospectively, 2) Lee changing his compensation scam from a low amount of shares (according to the admission document on Merkur) to something dependent on the shareprice, and 3) SIAF delisting from Merkur after being fined for not adhering to the transparancy needed (and all the distraction SIAF put up when the sharecount exploded in 2018)
Actually, ex-date was set and passed, and then got cancelled...
Not sure how things will be different next time
The TRW-distribution is the key - as always, but don't forget that we already went ex date without the shares being distributed so not sure how the PPS will react even when/if we get another PR about a new distribution. They have to figure out a way that people actually trust (the PPS didn't move too much last time either, which was a bit strange).
It will be interesting to see who is elected for the board by the plaintiffs. A good name there might be very helpful, hopefully someone with balls (unlike the nisse Nisse) and leverage (like with the veto).
No, the volume was not huge. As I've pointed out before; it was NOT the highest volume ever like you claimed, and it was certainly not a lot in amount of value.
You seriously beleive that one of the most respected investors in Norway would break the law to save a few pennies? Try to use that as evidence in a court.
In 2018 Fredly was worth 350MUSD. Let's "assume" that he bought 10M shares of SIAF illegally, saving 50 cents pr share (rounding up to be generous). That's a saving of 5MUSD or 1.4% of his 2018-wealth. Would he bother breaking the law for peanuts? Not to forget that he already has his 1M shares in TRW. Heck, he might not even want a single additional share in SIAF (why did he force Solomon to give him shares in TRW and not SIAF?)
And if they bought, why did they stop when they finally were allowed to buy? Were they so lucky that they got the final share they wanted just in time for the insider information to be public? What luck/coincidence! Why wouldn't they keep on accumulating? (or, more relevant; why wouldn't they wait for the inside information to be public so that they could buy legally?)
Not only is it pure speculation, but it doesn't even make sense.
Ancient? How many months are ancient to you? There are companies who report only twice per year, are they ancient too then and impossible to invest in? lol
So Fredly and HangReng not only bought with inside information, but they've also passed the 5% mark months ago and still hasn't filed yet? Doesn't seem very plausible
Is it the majority shareholder the one who is scamming, or is it being scammed?
Yes, so that's 1 out 10 then? Still no reason to believe that they will not start filing again
Let me try to be more precise then; SIAFs auditor is in the HK which has travel/quaranteene restrictions due to Covid-19. This has caused challenges for SIAF since the auditor cannot audit without a visit, and since SIAF hasn't changed auditor they have been downgraded to pink.
My point was that SIAF most likely will be pink only for a few weeks - and that there is an external reason to why it is pink. Throwing it in the bag of companies that deliberately are pink isn't fair.