From the release:
"Specifically, TRW announced that the distribution to shareholders of SIAF would be
based on the exercise of its option to liquidate outstanding debt owed SIAF of USD
62,338,065, covering certain of its accounts payable and other payables owed SIAF.
TRW hereby withdraws the record date set forth in the Release, as it has been advised
that certain aspects of the proposed transaction need to be evaluated further in light of
United States regulatory requirements and other steps may have to be taken before the
distribution is initiated. TRW still intends to have its shares distributed to SIAF’s
shareholders and will keep its own shareholders and the public at large updated on this
matter as it deems necessary or advisable."
So, first, it is TRW that has an option to pay debt by distributing it's shares to SIAF shareholders. TRW is making the decision, not Solomon, although he is involved of course in TRW mgmt. Second, TRW says they still intend to distribute shares to SIAF shareholders, but they need to meet some unspecified U.S. regulatory requirements. That's all we know. We have to wait for further information. But there is NO indication the distribution is being cancelled- to the contrary, the release confirms it WILL happen.
AI
