Sino Agro Food Inc (fka SIAF)

[rr8548t]

Minimum share price requirement

RR and other Swedes on the board: I read through the FN rulebook and was not able to find any exception or waiver clause re. the requirement of the min share share at the start of trading. Chapter 2.2.1 b says:

The share price shall, at the time of admission, be at least 50 Eurocent or the equivalent amount in the relevant trading currency

Is there such a waiver? where does it say that it's negotiable?

There is no reference in the rule book to a specific waiver for meeting the requirement for minimum share price. However, there is a paragraph in the general provisions that mentions the possibility for exemptions:

8.2 Exemptions
The Exchange may in special cases grant exemption from these Rules if such exemption would not damage public confidence in the Exchange, First North or the securities market.

I don't know if the company will be granted an exemption based on this provision. If not, maybe a reverse split will be accepted as a method to bring up the share price? I'm recalling someone on the board rejecting the use of a reverse split but I don't remember who posted that and why. Any board member who wants to comment on if a reverse split could be a possible solution to the problem? Pros/cons?