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Thank you, nuketheshorts.
I will tell Fidelity about this on my next call with them.
Hello rhe66,
I'll keep trying to get Fidelity to reflect our F Shares in our accounts, and report status here. I did see both of your messages. Thank you.
I think the company is (and has been) trying to resolve this, and has succeeded with the other brokerage services, all except Fidelity.
My primary personal trading account is at TD Ameritrade. I have a small Fidelity account, opened with enough $ to get 15000 United miles. It's where I bought my first batch of SIAF shares (41,000 at .41) in July of 2012.
Since I'm a retail customer, I thought I'd try to get it resolved for myself and -- if successful -- share the results. So far, I've only been able to share the process.
Re: F Shares and Fidelity
Although I deserve credit for my efforts, I've failed miserably so far in getting any results from Fidelity.
After 40 minutes on the phone with a "back room" specialist named Aoise (pronounced "eye-sa"), providing Lucky's info about clearing houses, providing all the info I've provided in the past, I was promised a call back in 24-48 hours.
The previous back room specialist was named Thomas. Fidelity lacks a mechanism for these support people to add notes to my record, so the entire story needs to be re-told to two or three people before anybody with knowledge appears -- each and every time I call. I asked them to email me their response, and was told that they are not allowed to put anything in writing. LOL
Perhaps Fidelity users entitled to F Shares can identify themselves, and on my next call, I can tell Fidelity that I know of xx unhappy customers. It probably won't help, but who knows?
I'll keep trying.
p.s. here is a compilation of the info I've given to Fidelity
1) Press releases related to the F Shares:
August 22, 2012: http://sinoagrofood.investorroom.com/2012-08-22-Sino-Agro-Food-Inc.-Declares-Dividend
September 19, 2012: http://sinoagrofood.investorroom.com/2012-09-19-Sino-Agro-Food-Inc.-Amends-Dividend-Procedure-To-Eliminate-Any-Stockholder-Required-Action
June 2, 2014: from the prepared remarks of the Q1 2014 CC:
Hello, I didn't receive any answer from Fidelity about the SIAF F Shares as they promised. I will call again in a few hours, and will convey the advice and info that Lucky Loser provided in his response to you, along with all of the information I have given them several times in the past.
I'll post the results here. Thanks to Lucky for the useful direction.
I agree with you, NJM.
In my view, it's a miracle that Solomon accomplishes what he does -- which is probably equivalent to all the work of three or four full time executives.
Let's hope he'll feel confident enough to truly delegate responsibilities, now that he's hiring some top notch executives.
In case the folks who follow and post on this SIAF board didn't notice, iHub is giving (at no charge) everyone -- including free members -- premium services for the next couple of weeks, to celebrate iHub's 15th anniversary.
That means anybody on the board can send a private reply or message to anybody else, among other features that are noted in this post:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113525515
Re: Fidelity and F Shares
Fifteen months ago, I first contacted Fidelity because the F Shares weren't listed in my account (and they did show up in other brokerage accounts we have). The Fidelity reps tried to be helpful, and even sent a follow up email that they would resolve it. Time passed, nothing happened, and when the F Share redemption was delayed last year I dropped my inquiry.
Earlier this week I called Fidelity again several times over three days. After speaking with six different Fidelity reps, and spending over 2 hours on the phone, I finally got somebody in the "back room" yesterday. During his research, he was able to see that a "payment in book entry form" had been made to the transfer agent (Broadridge). His assumption was that Broadridge would issue checks individually to shareholders.
I told him (again) that the F Shares show up in my other accounts (eTrade and Interactive Brokers), although we needed to call eTrade to make it happen. In the case of eTrade, after they made the proper contacts at Broadridge, they were sent a bundle of all the F Shares for all the accounts at eTrade that were entitled to them. eTrade needed to disaggregate the shares from the bundle and assign them to the appropriate accounts.
So, I think Fidelity is in the process of doing the same thing, and I was promised a status by Friday at 4 pm eastern time. I will post an update after I hear from them.
I am proud to join you as an independent turnip. Go SIAF!
Are all non-Swedish shareholders classified as turnips? I'll join the turnip shareholders as well.
I was watching Level II on the TD Ameritrade app a few hours ago, and the volume went from 160,000-ish to 213,000-ish briefly. Then the figure changed to 167,000. So there were mistakes in the data that TD was receiving, at least earlier today.
I get Level II through the TD Ameritrade app on my phone and tablet.
You can also get it here without paying:
http://www.otcmarkets.com/stock/SIAF/quote
BTW, I am another "Yankee" who holds a great many shares of SIAF. There are plenty of others.
The Strand is in a terrific location, but for the SIAF $100 party, why not the nearby Grand Hotel?
http://www.grandhotel.se/en
I've stayed at the Strand Hotel and also at the Courtyard Kungsholmen, which I prefer, even though we needed to use Stockholm's (convenient, easy and interesting) subway to get to the center quickly from Kungsholmen. But we also walked to central Stockholm many times from there.
For future visits, two fun hotels that I hope to stay in are the Rival in Södermalm -- one of the trendiest neighborhoods in the world, and Pop House Hotel in Djurgården above the Abba Museum. Both of these hotels have Abba connections. Pop House was formerly known as Melody Hotel, and was first suggested to me by Hyperboy. It's interesting to me that not too many Swedes (of those I know) have visited the Abba Museum. It's quite fun, with interactive experiences that are saved to the web for later viewing.
I've already heard local disagreement with my views.
I intended to make another comment. I think that the appointment of Bertil Tiusanen is substantial and important news that merited a press release of its own.
But all in all ... Go SIAF!
I am thrilled to visit Oslo for the $100 party! Can't wait.
OSE is a real exchange -- a regulated main board. We've needed that for far too long!
But I wonder why SIAF wouldn't announce that they will focus immediately on officially re-stating which businesses (including separately reported revenue sources such as management, consulting, commissions, etc.) are part of their aquaculture division, auditing the new financial statements, then valuing the aquaculture business, and spinning out the aquaculture business. First.
It seems to me that would be a much faster process than to start by divesting multiple different kinds of businesses that are not aquaculture related.
With either approach, breaking up the company and getting proper value while working within PRC law and related restraints may not be easy. Certainly some of it will be tricky. So why not focus on one -- the one that is important to OSE? I am not an expert on any of this, but it seems that approach would get SIAF to the goal line faster.
In any case, though, I think this may take years.
As a benefit, the spun out new company can have a name with Aquaculture and Technology in it.
I visited multiple SIAF locations in China less than a month ago.
I've just finished reading all of your posts today. Thank you for a long-term perspective on SIAF that is reasoned, prudent and informed.
You are correct!
I agree.
There are too few females, so guessing who I am doesn't count.
Thanks, Fluid.
Does anyone remember if this press release spawned rumors of an uplisting?
It is the very first Press Release on SIAF's web site, dated January 4, 2010.
http://sinoagrofood.investorroom.com/index.php?s=43&item=65
It's my understanding -- but I am not privy to actual plans -- there will be a mix of buildings and covered open tanks or ponds. Tanks will be either 1) enclosed or 2) beneath an open-sided structure with a roof that covers the tanks.
If they build structures like Fish Farm 1 uses, the buildings will take a very short time to construct, in my opinion.
I was told that the big tanks are for grow out use. I saw the brick "divider" structures that you can see in some of the FB photos and asked about them. Never noticed such a thing at the other fish or prawn farms. I was told they would enable sorting the fish more easily if needed.
As I understand it, the poor quality of the calls has been because of the methods used by SIAF management and board to connect to the conference calls. They prefer to call into a separate conference system that they are accustomed to using. Then this system is patched into the conference call via one mobile phone.
Such a method will produce sub-optimal audio quality regardless of the vendor. I hope they will not use their past method of connection when the Company uses the new CC vendor.
Hi ipulator_man,
The photo on Facebook is from Prawn Farm 2 (the hatchery, also known as ZSAPP or PF2). It is one of the Company's demonstration farms, and is not far from the new Zhongshan Prawn Project. In December 2013 photos, the water storage ponds were not covered. So, we see some progress at PF2 -- not the mega farm in this photo.
Also, China is criss-crossed everywhere, as far as the eye can see, with high tension wires.
I will not try to guess what your nickname stands for ...
Hi NewJerichoMan,
For what it's worth, I just received an answer to your question. "H C stands for Hung Chung, which is the Chinese name of the beef company."
I never understand how this 60% assertion can be made! It might become close to true after Fredrik Daniellson has all of his shares in hand and the OS count is higher.
All numbers below are post reverse split.
I know of (and have seen proof of holdings of) 4 non-Swedish, non-Nordic investor groups comprised of Europeans, South Americans and Australians who do not in any way consider themselves part of the Jordan Fund, even though JF has tried to claim them. They each were angered by the transparent attempts in early 2014 to include them in the JF share count, by promising an investor tour to those who could prove a minimum amount held.
These groups hold between 3 and 5 million shares at various times (they do trade in and out of the stock). They will continue to trade in the U.S.
Additionally, Rock Hill Investors is aiming to acquire 25% of the shares, and when RHI includes my group, Sly, Dan R., and other known American investors with significant holdings (that are not part of Rock Hill), they can claim at least 20% now.
There also is a known non-SIAF Asian block that holds at least 1 million shares. They trade in the US and and are happy to trade in dollars (as I'm sure most Swedes are lately ??).
So, if everybody's claims are true it seems like there would be no stock to trade, which is not the case. And what about Solomon's shares and the float? Can the Swedish claim of 60% be possible?
These are just my personal observations. Somebody isn't being honest.
Freelunch,
Once a week, for one hour after the market closes on Fridays, every registered ihub user can send private messages.
I learned this from mauiguy, and am passing it along, FYI.
I know it's not an easy time for folks in Europe.
"1x p/e"
To get to whatever p/e multiple you think is fair value, we'll have to go through 2, 3, 4, ... first. By the way, since the price has just about tripled in the last six months, the p/e multiple is 2 now (with $.01 to spare), complaint levels notwithstanding.
I think NJM was joking about HB, joenatural.
I agree with you 100%.
Hi Benoit1,
My post 85001 was meant to respond to this, but I erroneously replied to a different post by you.
I agree that the company could issue more press releases, to great effect. This hardly qualifies as a material event, however.
FYI, read this SEC press release:
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1365171513574#.VRhnvYrXfCS
Then notice the second paragraph under "About Sino Agro Food" that is in their press releases:
"News and updates about Sino Agro Food, Inc., including key information, are published on the Company's website (http://www.sinoagrofood.com) and the Company's Facebook page (www.facebook.com/SinoAgroFoodInc)"
Yes, if I recall correctly, it cost $169 for the 10-year multiple entry visa ($20 more than a one year visa). Your passport is required, as well as any expired passports containing earlier China visas. An additional requirement was added: a copy of your state-issued ID (e.g., driver's license) to prove your state residency.
There is a photo of Nisse drinking water from a tank at Prawn Farm 1 in this document:
http://www.sinoagrofood.com/sites/all/themes/siaf/images/whats-new/Zhongshan_Prawn_Project_FAQ.pdf