Sino Agro Food Inc (fka SIAF)

[ks1977]

TRW is worth NOTHING when Solomon and Dan are managing the assets through SIAF

For me it is about dilution-protection (or an attempt at it).

Solomon has proven that he is willing to dilute at any price if need be as long as he controls with his a-shares, and it seems obvious that he has been sacrificing SIAF-shareholders in favour of TRW (whether he is forced too through the deal he did with TRW in the carve-out, or if TRW has become his baby and not SIAF we don't know).

My hope is that the partners will refuse to dilute below a fair value (note to Solomon; a fair value is NOT fractions of book, especially not when YOU are responsible for the collapsed PPS!). If so, then owning TRW-shares directly is dilution-protection.

Even though Solomon has his faults, and probably lack the financial understanding the stock-market needs, I believe his intentions are in the right place (which is proven by the distribution of the 18.3M shares in TRW) and that he has (also) gotten a lot of undeserved trashing (including from me).

When/if SIAF gets a solid cash-flow Solomon might/should start with buybacks (not to support the PPS, but to recreate some of the book value that he destroyed). If so the TRW-shares that I hold directly will be unaffected by the increased book-value in SIAF (and hence increased amount of TRW-shares pr SIAF-share held by SIAF), but I plan on holding a significant amount of SIAF-shares post distribution so that's fine by fine (the way things look now I might end up holding to all my SIAF-shares post distribution, disregarding the few extra shares I have been playing around with this week)