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That's actually what I am going to do in Sep when my second grandson turns 1. I'll open a gift trust account for him and give him 100 shs of Siaf. I did the same thing for his brother two years ago with 100 shs of my other China stock, KNDI. The instruction is they can draw the money for their college education after their 18th birthday. By that time MF should be close to producing 300,000 MT a year. I hope.
yes. The same day ANY holds an Investor Presentation & Reception with Larry Orecklin VP, Chief Evangelist, of Microsoft holding a Keynote speech.
http://investors.sphere3d.com/phoenix.zhtml?c=108165&p=irol-EventDetails&EventId=5189463
Hey it's a Tshirt print right? Short Cool Mysterious sounding... If my grandson asks me what SSS is I can tell him : oh just Some Silly Stuff I used to be involved with many years ago.
The Ultimate SSS
PS : SSS for Solly's Silly Siafers
Actually the number should be at least 3x as much. Thousands of Swedes own Siaf in their pension plan held by Avanza and Nordnet as a collective street name if I am not mistaken. Some one said there may be as many as 7,000 Swedes holding Siaf shares. There may be also about 1000 + Non Swedish s/h imo.
Ok accepted, cash flow is always a good excuse. But the intention has always been to start with a low 25% if they decide to buy into the JV and to increase ownership gradually to 75% as production is being ramped up. So not either 0 or >50% as you implied.
really ? Didn't you also hang Sollys poster on your bedroom even after he has diluted you to death for years, silly you? That's the most fitting name of us I can think of.
The Silly Solly Team
sounds better to me!
Good question Mauiguy. To make sure that we all donot have to cancel our air ticket to Stockholm a day or two after we have bought it I'd suggest $100 or higher closing price for 3 consecutive days. Good enough?
The Ultimate Siaflers?
The answer may be just one word:
DISRUPTIVE
TBH a pps of $316 would seem very tempting to me if good before 2015 ends. Especially it is in stock of the #2 stock in MC in the US. But it's still a little early to tell. I will watch how things go here.
12B / 38M = $316.
not sure why not. They clearly had the intention to own 25% of PF1 once it's approved as a SFJVC in the same 10K as i quoted:
ANYbody has heard of Code Rebel which IPO'ed on Nasdaq on May 19 at $5 and traded at $34.65 just 3 days later. Beware the word ANY below:
here is an excerpt of the 2011 10K report (dated Apr 12, 2012) Page 8 showing that we owned 25% of FF1 (=JFD) as of End 2011. By Sep 2012 Triway owned 75% of FF1.
So we either own 50+% or 0% of a JV? I thought we always start with 25% when the JV becomes official? How about FF1 initially?
You keep talking about the $99 party Mauiguy. Any problem making it a more worthy cause like a three digit $100 party as I suggested last time? Just wanting to make terminology more consistent to all the attendants...
makes sense SE. Why would ANY want to restrict competitive bidding for its own benefit with a ROFR?
If I were ANY's mgmt I would not want a ROFR (Right of First Refusal) agreement in a partnership. Bc that would make MS less eager to help me precipitously increase my rev and status on WS. Also if I am not mistaken, a ROFR is a very legal doc that most of the time is tied to a signed financial agreement like a financing or M&A deal. What we have with MS seems more like a technical partnership to me with more verbal than legal commitments from both sides.
I also think that MS fully realized that if it wants to buy out ANY before other "tigers eat" it it needs to help ANY rapidly grow its revenue to a point that doesnot make MS buyout offer look totally ridiculous like a P/S over 30 or so. So I would not be surprised that rev run rate will explode to 700M or higher in the next 1- 2 years before a buyout can realistically happen. Why else does MS do what it is doing to an obscure nano cap like ANY, including even giving a key note speech at a bell ringing event?
I actually agree with your reasoning Pete. I just think that if a public company wants to buy out another public company the offer has to be a reasonable premium (say low to mid two digit %) to its current market cap. What premium do you think MS is willing to offer to ANY that is acceptable to its Mgmt, insiders and shareholders? Bc that will determine when the buyout may/will happen. You do realize that the price tag of 16B you are assuming means a pps of over $400 right?
sure but that's less relevant for us right now.
what I find interesting is the 29% premium to the pps.
great info, thanks for sharing Melehuna.
EMC's offer at $33.85 per share represents a 29% premium over ISLN's closing price prior to the announcement.
http://seekingalpha.com/article/242596-emc-poised-to-dominate-the-16_7-billion-cloud-computing-industry
Should we add Nadella's secret sauce:
#GW+SC=NextCloud
Haha you sound much like the ole Sly we knew. Siaf's most diehard believer and defender I have known.
2016 eps will not be released until April/May 2017, so make it 24 months away. But I doubt that PE will be 10 by then, 1.5 years presumably after OSE listing. If 2015 eps is 7.5 and 2016 eps is 10, you are looking at a company with a Billion USD rev with two consecutive years of yoy eps growth of 33%. Add the divis to that and continual solid eps growth in future years, what makes you think the stock will trade at a PE of only 10?
I know, you want to be conservative but...
If you connect the dots back to PB's "tiger tail" statement made presumably back in May 2014, add 18 months to that and we are looking at Nov'15 when Q3 results are announced that most likely cement the anticipated $160M run rate and pave the way (if not earlier) to a pps run up to 15-20.
Think about it. A hypothetical $20 pps means a Market Cap of 700M+ (assuming an o/s of 37M including the most recent 2M financing shs) which could make an offer by MS in the range of 7-10 B much more acceptable to ANY's Mgmt and shareholders.
Wild musings... Y'all enjoy a long weekend!
Mac: I think you are right. It seems that what came to light in the past 2 weeks is the result of a partnership and intense cooperation behind tight doors b/w MS and ANY that was put in place shortly after Satya Nadella became Microsoft's CEO in Feb 2014:
http://en.wikipedia.org/wiki/Satya_Nadella
Here are a few other dots that point to the same direction:
1) presumably around the AGM meeting in May 2014, PB made the famous quote about the "tiger" which in today's light seems to clearly refer to Microsoft (IMO):
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110680063&txt2find=tiger
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=111062994&txt2find=tiger
2) in the July 28, 2014 BNN interview PT when asked by Catherine Murray, admitted the existence of the partnership with MS:
although the article didnot specify ANY by name, it leaves little doubt in my mind who is behind the Microsoft Cloud for Government:
same here.
Alas... I didn't even know how to raise my hand with the new telephone system! Normally you dial in and are asked to identify yourself before they admit you to the CC then you press *1 if you want to ask a question right? Well I used the direct link to the CC and nobody asked my name and such. When intried to press *1 it didn't work so I just continued to listen until the CC ended.
My guess now is 4-8% for first year. Initially (when divi policy was to be annouced by EOY) I was actually expecting 0-2%. But when they decided to announce it end of next month I thought something big must have happened re. financing, so I got more hopeful. We"ll see how it turns out.
Snow: the Net cash flow per share (not Net cash position) reported for 2014 was 6.65 NOK. Since Net cash Flow includes net earnings of 2.28 NOK AND all variations of balance sheet (like AR being paid, any cash windfall like asset sale...), I donot understand how they could pay a total dvi of 8.30 with only 6.65 NCF in 2014. There was also a Bonus divi of 5 NOK paid in 2014 acc. to what MaterialMind posted.
From the FY 2014 report:
2014 2013 2012 2011 2010
Earnings per share (NOK) - basic 2.28 6.66 1.14 3.12 8.61
Underlying earnings per share (NOK) 7.01 5.32 0.63 4.88 5.84
Net cash flow per share (NOK) 6.65 -0.38 2.55 4.41 4.16
Dividend per share (NOK) 8.30 2.25 - 8.00 6.00
No I dont know what "underlying eps" means. I am sure the report (in norwegian?) explains it.
But there seems to be a special or "Bonus" dividend of 5.00 NOK paid in 2014 that would explain the unusually high divi of 8.3 NOK and yield of 8.8% paid out in 2014 despite an eps of only 2.28. Maybe somebody could read their 2014 annual report and see why they issued that special dividend? The net cash flow ps was also impressive in 2014 at 6.65 NOK, maybe they had a cash windfall last year like a spinoff or an asset sale? The divis paid in 2010 (6.00) and 2011 (8.00) were also impressive despite the comparatively low eps of 2011 of 3.12 NOK. Hopefully we will all get a special dividend too when SIAF spins off SJAP or sells the HU plantation or their cattle farms :)
Bonus dividend 5,00 NOK 2014-05-23 2014-06-04
Snow: thx for the info. So how can they pay a divi of 8.03 in 2014 while earning only 2.28 ps with a net cash ps of 6.65? Also was the divi really -8.00 in 2012? Does it mean that shs had to pay the company a divi of 8.00 lol? Funny numbers if you ask me.
Can you find out about the special divi I mentioned? No company can pay a yield of 8.8% at a PE of 41. That would mean a payout of about 350% of eps!
About 400x Nov 5 call contracts were traded at 85c b/w 10:30 and 11AM today. Sells like hot cake :)