Sino Agro Food Inc (fka SIAF)

[jyyoo]

http://www.newsweb.no/newsweb/search.do?messageId=448264

I think the company should still PR this information that was posted late last week since it is so important but I will post it on iHub for those who haven't yet seen or fully understood. I encourage everyone to read through the whole thing but highlighted points are below:

"Since 30 September 2017 the Company has not issued any additional collateral shares or top-up shares."

"On December 27 2016, two additional loans from non-related third parties were established (the "Additional Loans"). The total loan amount under these two loans constituted USD 10,428, 044. The Additional Loans have been partially repaid and now stands at USD 4,694,829."

"Pursuant to the loan agreements, the lenders shall not sell any shares unless there is an event of default. The loan agreements also stipulates that the lenders are forbidden from borrowing against these shares for short-selling purposes at any time."

"Pursuant to the loan agreements, SIAF has a right to have corresponding shares returned within 3-5 business days at any time, on any amount, of the loans being repaid."

"Due to the continued decline of the value of the Company's shares throughout Q4 2017, the Company resolved in December 2017 to reduce the maximum credit line of the Facility from USD 20 million to USD 15 million as an alternative measure to the issuance of further top-up shares, since it was the Company's view that reduction of the credit line (instead of issuance of additional security shares) would better serve the interests of the Company and its shareholders."