'As part of this convertible bond, Sino Agro Food has undertaken a commitment to cease the issuance of new shares as a means to pay suppliers and similar'
Solomon needs to answer what happened to this commitment after they signed the note deal with ECAB in 2014 when the shareprice was 10 times higher than now!
'the Company will distribute (a portion of) surplus cash to its shareholders unless it can be invested at a return on capital employed ("ROCE") above at least 20%. The distribution to shareholders can occur in the form of dividend payouts, share repurchases, or redemptions....During the last three years, net income attributable to SIAF and subsidiaries has increased by 98%, with a return on capital employed during fiscal year 2014 of 28%'
Solomon needs to tell us what is the current ROCE(taking account of the bad debts)and if lower than 20% why he doesn't carry on with his promises based on which shareholders either bought or did not sell in June 2015.
