Mera; Yes, I do not like to be lied to - I tolerated the heavy decline in PPS that the management accepted (well, were the reason to, but let's be nice), but heavy dilution at 2% of book? And warnings in the Q1 that we should expect more? Why shouldn't we complain, but if you are happy then please loan me 100$ and I will sell your 100$ for 2$
Either SIAF is a fraud, or they will do what they have promised!
It's not a fraud, and they will do what they have promised (if you by promised mean distribute 18.3% of TRW to x million of SIAF-shares)
Do the calculations on the cash dividends! It is a super deal to buy SIAF shares at this levels!
The clue being at THIS level. The sad thing is what this dividend policy could have done one year ago; 5 cents in Q4 means 2MUSD (round numbers). In Q2 that would have meant 8 cents, but Solomon also had some shred of credibility left so you could easily expect 10% yield (maybe even 5%) with the ECAB-protection while waiting for the TRW-dividend (you might even have gotten close to 5% for the next year dividend, i.e they might have been able to pull of a PPS of 3$). It might also have calmed down ECAB so that Solomon didn't have to do the toxic note.
They are making good money.
No, SIAF isn't
However, it is a pleasant surprise that they actually did state a cash dividend policy in the Q1-report. As well as stating the policy for 2019. This should solve our most desperately needed issue; namely a bottom for the PPS. The second most desperately needed issue is not solved though, namely heavy dilution.
It would be nice if ECAB hit us with a settlement through cash instead of shares, as well as the toxic note being cancelled. If Solomon is able to reverse the heavy dilution the last year I will reduce my complaining
AI
