Sino Agro Food Inc (fka SIAF)

[ks1977]

After considering input from management, creditors, and major shareholders, the Board
of Directors has determined that the best use of funds is to improve efficiency at aquafarm4,
and add production and production capacity to aquafarm 5. Upon the advice of the Board of
Directors, the Company is cancelling the previously announced dividend, with the intention
to reinstate when deemed appropriate, for which we believe the businesses are on firm footing
with easily adequate potential. The Company’s interests are better served at this time by using
cash to build sustainably durable and increasingly profitable operations and to justify further
outside investment

"Major shareholders" should be Garret and/or ECAB (at least I haven't heard anyone on this board speaking out about this, and we surely have several >1% here). If so, then I am baffled that he/they wanted SIAF to CANCEL the cash dividend. Which leads to only a few options; 1) ECAB/Garret doesn't trust Solomon anymore and are forcing his hand (which also screws us - which would be rather surprising since we're talking about peanuts for those guys), 2) Solomon is screwing them and us, or 3) Solomon has overspent again, but Garret/ECAB has had enough and cut the cord and hence Solomon is forced to cut spending.

Garret; now is the time to chime in if you want to stall the massive lawsuit again