If SIAF were to list the Aqua spin-off on Merkur in order to speed up the process, I am all for it.
Listing requirements for Merkur
2.2.2 Annual accounts and interim accounts The company must have produced at least one annual or interim report in accordance with the requirements and principles set out in section 4.2 of the Continuing Obligations. The annual or interim report must have been audited.
Listing requirements for OSE
2.2.4 Annual accounts and interim accounts (1) The company must have produced annual accounts and annual reports in accordance with the legislation on accounting for the last three years prior to the application for stock exchange listing.9 The annual accounts and annual reports must be audited.
There are some exceptions from the 3 year rule, but a listing on OSE will be a much more complicated and time consuming process. As an interimistic solution I am all in favor of a Merkur listing of the Aqua business, rather than waiting maybee up to three years for an OSE listing.
Furthermore, I think the Mega farm Project should be able to get bond funding to finance further expansion when it is up and running as planned. Both management and existing shareholders are interested in minimum dilution when the Aqua business is spun-off.
I hope, the Company reports on the progress of the Aqua spin-off at the CC next week.
