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Ofcourse. Its just veryvery unlikely. So if its worth investing in? Probably not.
I'm surprised, in a good way, that SIAF keeps filing. And in a sense, that they actually take the step to write off losses, we all know are there. Maybe there is still a shred of hope (<0,3%) that something good can still come out of this.
Well, the fact that they`re reporting, is in it self huge progress. Could still get worse tho...
Siaf is writing down its assets by $104.5m. About time. Maybe they will eventually reach the right valuation on paper as well.
Best case scenario - its linked to getting rid of Solomon and the A-shares. Worst case - same old, same old...
Youre usually allowed to hold and sell even tho you cant trade. Ill be keeping mine on nordnet until theyre bankrupt or i sell with a gain.
Two new filings the last two days. Seems like more people are giving up.
He probably wont say anything to make sure there are as little connection to siaf as possible in case they will be sued or reporter to the police
Surprisingly positive coming from undercurrent
Sure, hes going to try to get some money out of it, but not by pouring more millions into a massive risk company. Hes probably written this off as a loss already. But try to extract value other ways sure
Not really. He can still sell the shares privatly. Either way I agree with KS here, doubt Freddy will put more money on it, he did this just to show Solomon that it has consequences to scam him.
Big thanks to everyone digging into all the information coming out, and writing to the judge, fighting for the shareholders. I gave up this stock along time ago, but still holding all my stocks.
I'm leaning more towards that what we are seeing now, is them trying to buy time. Time to figure out how to smooth over the even bigger mess they've made out of the situation, that they are afraid to make public, because that will put the company even further in the shit.
The deal is already made. They wouldn't drop the lawsuit before they got something in return, unless there is nothing to get. Either way, shareholders are the losers. They were just hoping they didn't have to go public with it.
This is an image I've built of the guy a long time ago. Couldn't find anything on him with a fast google search, so not going to spend time digging up old dirt. But it's probably connected to the case where DN accused him of inside trading etc. and he sued them for it.
Besides, HIDDN and SIAF are two different cases. With the first one, he will earn the most money by making something out of the company. So mutual benefit with the rest of the stockholders. With SIAF it doesn't really matter, the company is nearly f****d beyond repair. He will take the money he can get, and get out. He obviously have better investments to spend his time on.
Based on everything i've ever read about Fredly in Norwegian media, he is NOT on the shareholders side. He is inn this for purely his own selfish reasons. He does not care what happens to shareholders. And all that matters is him self.
Edit: Never mind. was to tired to read it correct the first time.
Hope someone got access to the letter and can post some info.
SIAF was my first encounter with a stock that operates in China but listed on a foreign exhange, and there won't be another.
When I first started researching SIAF, I was mainly focused on the stock it self (Which looks great, right?), and less on the political macroperspective of the stock. As time went by and SIAF continued to fall, I started looking elsewhere for answers to why SIAF is a failing company (Reasons in adition to Solomon that is). And the problem is China. You won't get value out of China, it's designed that way. A company not listed in China but operates in China wont ever give values to foreign shareholders. The interview I posted with Kyle Bass earlier, is relevant because of exactly that problem.
Anyone ever seen a "small/medium" sized company listed on a non-asian exhange, with operations in China actually deliver on anything?
I'm currently holding shares in SIAF, and will continue to do so, because it's the only choice. An investment reduced to a gamble.
Any news from Avanza? So far no sign of them selling 2,5m shares (or what ever is left of those)... Did they find a different solution? Selling it off market? Selling it on OTC after the change?
Yeh, most of them. But lets say there is 200k~ left the 10th, it might create a sharp drop. I mean, you see it all the time with other corporate actions where people don't know/remember/care to do anything. I'm just saying that there is a possibility.
Yeh, true. But they would have to sell first and buy later? I don't know where the line to price manipualtion goes. If you start selling and buying to your self...
New Amended Statement of Ownership (sc 13g/a) ... Avanza still holds 2,5M shares that needs to be sold within 20 days... I predict we'll get another decent fall the 10. sep.
Because seafood is huge in Norway? They probably figured it would be a nice place to get new investors/publicity...
I got it confirmed by Nordnet right after SIAF applied for delisting, that stocks held on accounts that do not allow trading on OTC, will be sold by Nordnet. You CAN how ever hold the stock without issues on a normal broker account. I had mine on a investmentaccount, but sold these after the answer Nordnet gave me. I intend to buy all these back through a regular account.
EDIT: Link to first post https://investorshub.advfn.com/boards/read_msg.aspx?message_id=147286352
Unfortunately, yes. It's just more of the same.
The fact that Solomon can throw around 5M shares that casually tells you that the company is not worth more than it's shareprice today. If the company really was worth $2, no way anyone (Even Solomon) would give an independent director $10.000.000 signupbonus and a $60.000 salary.....
It's unfortunate, as I also still own a few stocks, but I believe we'll see sub 1 NOK (11,5c) before we see a F-1.
SIAF is decleared dead on Merkur. Noone wants to touch the stock until things are clearified... And probably not after either.
Have anyone considered hiring a private detective to look into SIAF?
I personally dont have enough skin in the game to do it. But as a larger shareholder i would be interested to stalk lee and the premesis to see whats going on
Until news about that listing then, hopefully. If they delist on Merkur, there will be another selloff. And if they dont get to delist... ? A small rebound?
You can't do that either.
This type of account has some special rules because it offers postponed tax when selling/buying/recieving dividend etc. Publicly Nordnet/Avanza shows up as the owner of the stock on stockholder lists. And each stockholder ownes the stock through the company. Because of that, it's not so simple to move the share to other types of accounts. Hence everyone who holds stocks will be forced to sell and rebuy on a regular account. And I'm sure that is the case for MANY scandianvian stockholders.
If it was possible to find a list of top 20 holders, we would see how much we can actually expect will hit the market if this goes through... I sold out at the news of this, and will look to buy back inn again at one point. Until then I'll just be observing. At least I get taxrefunds..
The investment account that Nordnet offers is different from a regular stockholder account. For a regular account, it shound't be a problem. But with the investmentaccount, I doubt there will be a solution other than sell, and rebuy.
I don't know how many knows this .... But short term, we can easly see another 50% drop on SIAF-ME IF their application to delist from merkur is accapted.
I have contacted Nordnet, and they confirm that if SIAF delist from Merkur, then everyone who have shares held in their investmentaccount have to sell their shares before the delisting. I believe its the same for Avanza? That means there will be a buttload of shares dumped in the market in one go. We have not seen the bottom just yet.
Old or new. Doesn't matter
Do anyone have a list of owners of SIAF-ME?
What regulations stop you from buying otc stocks? And if the company can't handle being listed in two markers, and it complicateds the dividende process, then it's obviously to be preffered rather than doubblelisting.
Because there are no more people who wants to put any more money into this stock. I'll probably pick up some more around 1 - 1,10 NOK. But besides that I'm already maxed out of what I'm willing to invest here, regardless of price. And that is probably how most people feel. Now its a "hold and see what happens" stock. So when you get heavy selling pressure it won't be enough buyers no matter what.
If these same people waited thou, until the stock got listed on OTC and then sold, they would probably not manage to move the pps so far down. It will stabilize at some point when the pressure is off, and slowly rise back to what ever the OTC price is.
As a nordic shareholder thou.... I don't see why you think this is so negative? We can still keep and trade this stock... In what way is he throwing us under the bus more than any other shareholder? Not being able to trade it as easy as other stocks is minor/unimportant details at this stage.
I'm fairly certain that investors are now selling only because they don't want to own stocks traded outside Scandinavia because of the implications that comes with it. I've never seen double listings as anything positive. Ever.