What is the point of distributing a whole chunk of TRW to shareholders. I just do not see a point in that? I guess you want you money back that you have lost but why do you want to have the whole think at ones. You did say that SIAF will have to have support after it. I guess you have bought your SIAF to get TRW shares, correct? What will happen after you get them? What is your plan?
"Yes, if SIAF distributes half the TRW-shares (like they've promised) then half of the dividends would go to (current) SIAF-shareholders. How does this translate into noone wanting to own SIAF anymore? (although we do need some support for the PPS post ex date!) "
Of course there is a risk, SIAF and Solly doesn't control TRW anymore. Maybe they just want to be a private company after the loan is in place for like say 5 years. then your TRW shares will be locked in for 5 years. Will you be happy with that? Anything can happen is this company and it has so far. It will not just stop. The reason the share is trading low now is just that. unceratinty, no trust. But some here defent the share, and the leader they hate For no reason except it feels better to hope than to realize you've failed.
"Not sure why you think it is a risk that TRW would not want a loan and/or ipo - why wouldn't the partners want the growth-story (which they have partially paid for already btw) and a decent P/E? Also, it will be difficult to trade TRW-shares before the listing - so SIAF should easily gather most of its current 36.6% voting power through the shareholder's of SIAF and hence not loose any real power if that risk was real.
They do not need cash. All growing companies need cash. SIAF is no charity.
"Also, after the TRW-financing and/or CA-deal SIAF doesn't need that extra cash from the "lost" TRW-shares"
Maybe they are thinking different than you are.
"why wouldn't the partners want the growth-story (which they have partially paid for already btw) and a decent P/E?"
No siaf doesn't want a higher value of TRW. They wanted a low value so they could get more shares but my theory is that they also thought a high value would give the share price a boost, and that was wrong. So they "lost" tha battle and just for 12% extra instead of more.
Question is which companies or persons own the 63.6% of TRW?
