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If exchange rules don't apply then why did Oslo give us an ex-date today?
Unless the market agrees with me
I have a feeling I am going to have a migraine figuring out the cost basis of my remaining SIAF shares
An interesting thing. 0.183*100000/0.3707 ~= 49355
How do you know that?
Speaking of misleading people;
Shares trade ex right to receive shares in Tri-Way Industries today
Not very plausible.
I'm not sure that we'll hear anything from FINRA. SIAF didn't PR the distribution on OTC which is rather strange. I believe they got advice from their lawyers not to go through FINRA, and that's why we're having the distribution and not a dividend.
Oslo Børs noticed that SIAF were trading strange on Merkur, halted the trade and forced SIAF to tell them what was happening.
OTC on the other hand couldn't care less, probably just som MMs playing with retailers I wonder if the MMs will show up as shareholders of TRW as well, and if so; with a positive or negative amount of shares :p
The ratio is 0.3707 TRW shares for every SIAF share
In this case the market already confirmed what I thought I knew.
I find it hard to defend why the PPS should trade higher than 10% dividend yield
Another answer to your question about who is buying here now is potentially people who didn't care much for Tri-way shares, and thought there would be more of a drop after the ex-date and want to pick up shares
That sounds scary; if the real date was yesterday, then it doesn't matter if you dump all your shares today. If the real date is tomorrow, it doesn't matter how many shares you had yesterday. Same applies for the next 14 days; you have to have you shares on a particular day.
However, if you buy first and then sell, i.e you never go below your full position, then you should be safe I assume.
Be careful between the two exchanges though. I would assume that we have the same real dates, but since we haven't had any PR on OTC then you can't be 100% sure (it would be really strange, but could it be that Merkur is ex date and OTC not on the same day???)
What do you say, RD? I don't think it's safe
I think a drop of the pps of about 30% is not too unfair
What is Oslo supposed to do?
I'm a bit surprised (?) - I "expected" SIAF to declare the cash dividend at the same time we traded ex TRW, so that we had some support post distribution...
Also, I am surprised that the ex date was set BEFORE the record date. Has OTC and Oslo Børs communicated? It would be quite a mess if they have different ex dates... lol
In Norway it has always been the ex date that is the date to watch, but I don't know if there is special rules for >25%.
I'm afraid that a half-yearly one will give the MMs plenty of time to play with the PPS :( Might give us some good opportunities to load up with SIAF-shares of course, but that makes us very vulnerable to dilution. Not sure if a monthly dividend would help enough, but at least then it would be less time between dividends for the MMs to play with the PPS (and also more motivation for shareholders to keep their shares all along)
It is official on Merkur, but not on OTC. Pure speculation, but they might not want to PR it on OTC because its not a dividend from SIAF, but a distribution from TRW (or maybe they want to teach the MMs a lesson). They might of course be afraid of the decline in PPS post-distribution as well.
Either way; OTC seems to be dead. Some volume on Merkur, but hardly anything happening on OTC (hence I'm going to whine about the cash dividend being twice pr year and not split over 12 months)
For me, this means that I have bought what I need of SIAF today and I would expect the stock to drop tomorrow, but by how much, I do not know
he took his salary in Siaf-shares
Probably not (www.investopedia.com/terms/e/ex-dividend.asp)
The ex-dividend date is typically set for two business days prior to the record date. If a company issues a dividend in stock instead of cash, the ex-dividend date rules are slightly different. With a stock dividend, the ex-dividend date is set on the first business day after the stock dividend is paid out
And Garret will just let Solomon do his thing with TRW as well
None of us wants Solomon to have control over TRW, but it would be rather strange if he was able to whip up the majority of votes in TRW to dilute at fractions - even if the speculation were to be true.
In any case; we are less of sitting ducks in owning stocks directly in TRW than to own them indirectly in SIAF - which is where this discussion started.
Im very confused right now
Record date October 31st, (first) payment date November 14th and an unknown ex date...
For normal dividends it would be the ex date we should keep an eye on, but not with such large dividends/distributions. However, the rules aren't always followed. Hence, if someone wants to be certain then they should buy before the end of this month.
Although I guess all of us longs on this board already have all the shares we want
Isnt that what I said earlier, that Siaf will hold 37% of TRW and Siaf shareholders 18%?
Try to find a statement where they say they will distribute half, or 18.3%
Tri-way share distribution to SIAF shareholders
The Company wishes to inform its shareholders that it continues to work toward a means of providing its shareholders with share ownership in Tri-way as it had intended since the carve-out of the Tri-way subsidiary. To date, an option allowing for an almost tax-free burden to the Company appears to have materialized while still providing shareholders an 18.3% distribution of Tri-way’s fair-market value. The Company intends to issue the details of the course of action it seeks to implement in its Q2 2018 report, once the final details of the arrangement have been cleared and readied for implementation.
Tri-way share distribution to SIAF shareholders
As alluded to in our Form 10-Q for the period ended March 31, 2018, the Company has been in communication with Tri-way on a concept / plan that allows our common shareholders, eligible to receive dividend, to receive 18.3% cumulative ownership in Tri-way that does not impose a tax-liability to either company. The outline of the distribution plan will be made public by Tri-way in the next few weeks. Essentially, we believe that there will be two (2) scheduled distributions whereby, under each distribution, SIAF shareholders in exchange for Tri-way debt held by SIAF will receive convertible preferred shares of Tri-way in an amount equivalent to $3.41 per share value of one common share of Tri-way, the number of preferred shares to be received in book entry form to be based on the number of SIAF shares held by each eligible shareholder as at / on two (2) separate Record Dates, the dates of which shall be announced by Tri-way along with possibly their Conversion Dates announced, simultaneously.
Which means they should have a pretty good idea, now, about cash flow. Perhaps even months ago
What do you mean, bad wording?
So why wait for 2 or 3 weeks after Nov 15 when they have to pay it anyway?
If they think they may have to dilute then they should have raised the A/S already
They already said they will give quarterly updates on this
And of course they have to tell us how much of TRW SIAF will retain. In the Q-3 report
I don't think I'm setting the bar too high
They said they will be, IIRC
They have to do 3 things by Nov 14
It always worries me when a company tries to predict the earnings for the next quarter or so
They can always find a way to dilute if they want to, so I won't get my hopes up about that
I'm pretty sure that these are the contracts we are waiting for that will make SIAF cash flow positive later this year.
Wasnt Siaf supposed to hold like 37% of Triway, and Solomon controls that 37% with his A-shares
they can always increase the A/S
I believe that shareholders should elect the Board of Directors for TRW, preferable outside
further deterioration on the managements
There's only 3 ways I would sell:
1) When I see further deterioration on the managements or the business.
2) When the intrinsic value of the company shrinks to the point that it's no longer a bargain.
3) When the price reaches close to its intrinsic value
Only for AF1
The numbers below would not equal necessarly equal the market price
what makes you think the P/E of 10-12 is the appropriate number for the company? There is a lot of uncertainties to come up with that conclusion
if you believe that the appraisal is somewhat accurate, and that TRW will be able to list somewhere in the next 3 years
The value is 0,38usd today
Its like closing your eyes and hope for the best
The money to pay for the cash dividend is expected to come during November is it not?