Home > Boards > US OTC > Food - Processing and Agriculture > Sino Agro Food Inc (SIAF)

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RealDutch   Tuesday, 04/28/15 12:53:50 PM
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Summary CC

1) They need to answer one more question. FN listing expected before the summer. (Bertil)

2) Oslo listing expected in Sept/Oct/Nov (Bertil)

3) Bertil will be responsible for execution here. His secondary task is looking at longer term financing.

4) Dividends will be paid end of May

5) Mega Farm needs a roof (fully enclosed) before stocking can begin. The bad part, maybe more delays. The good part, the competition can't copy us.

6) The big tanks (30m x 30m) are for final grow-out of prawns. They can double the size in just 2 weeks which should improve margins.

7) Money deposited for acquisitions, they can get it back if they decide not to acquire the farm (according to Dan). A bit fuzzy. Could be referring to CF2 here.

8) As I expected, the business model won't change. When we are talking about "divestment" we are really talking about spin-offs, with SIAF maintaining control. The intent is for these subs to be able to stand on their own, without needing financing from the mother company. That's what "divestment" is about. But this was the plan 5-years ago, according to Solomon.

9) Vike was right. They will grow prawns mostly at the Mega Farm initially because they can sell them faster (every 2 months). Eels and fish come later. Makes sense.

10) Apparently Nasdaq wants them to hire a top-4 auditor. Personally I think Nasdaq is looking for excuses. They will make you run until you give up.

11) Guidance possibly/likely before the end of Q2.

12) Appears they will draw the final tranche of the ECAB loan in Q2.

13) Appears Solomon wants a 55% stake in the Mega Farm. But now is not the right time. (Gosh, really).

14) Solomon bullish about the abattoir. Me too.

15) A lot more institutional interest than 6 months ago

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