Sino Agro Food Inc (fka SIAF)

[ValueInvestor01]

Also keep in mind that SIAF may decide to retain 36.6%

Can you clarify this a little? How are they going to distribute the 18.3% then if they are going to retain it?

As alluded to in our Form 10-Q for the period ended March 31, 2018, the Company has been in communication with Tri-way on a concept / plan that allows our common shareholders, eligible to receive dividend, to receive 18.3% cumulative ownership in Tri-way that does not impose a tax-liability to either company. The outline of the distribution plan will be made public by Tri-way in the next few weeks. Essentially, we believe that there will be two (2) scheduled distributions whereby, under each distribution, SIAF shareholders in exchange for Tri-way debt held by SIAF will receive convertible preferred shares of Tri-way in an amount equivalent to $3.41 per share value of one common share of Tri-way, the number of preferred shares to be received in book entry form to be based on the number of SIAF shares held by each eligible shareholder as at / on two (2) separate Record Dates, the dates of which shall be announced by Tri-way along with possibly their Conversion Dates announced, simultaneously.

I was looking at the recent 10-Q about the TRW dividend. Are they distributing "convertible preferred shares" or just regular common shares?