Replies to post #104595 on Sino Agro Food Inc (fka SIAF)

[RealDutch]

Splitting up the company into a stand alone company doesn't make sense to me. It would still be a Norwegian company with operations in China. Why cut all the ties with SIAF?

So, I think SIAF will own 50% (or 51%) of the new aqua company, through Hong Kong. The JV partners will own their 25%. And the other 25% goes to new investors in Norway (basically money in the pocket for SIAF, same as with SJAP). The only difference is, SIAF will probably maintain a majority stake, therefore they can book all of the revenues and assets (with non-controlling interest going up to 49%).

And Solomon will still have (indirect) control through his SIAF A-shares. Although officially he will control less than 50%.

Nothing changes for SIAF shareholders. Except you get a dividend. And the value of the new companies (whether a subsidiary or not) should be reflected in the SIAF shares as well. That was the plan to begin with.

[challe08]

The only reason I used owning the distributed shares instead of a cash-dividend was that I'm not sure about the tax consequences. If Siaf have to pay a tax when selling shares and also we as shareholders have to do it, it seems a bit unnecessary.
But we really don't have to bother about this, it is not like management and/or all the advisors,lawyers and FD are not on top of which rules to follow....the only thing I'm convinced about is that SJAP and HSA would reach the highest valuation in PRC and should be spun there, this is crucial imo.... rest is just technicalities!
I want the highest possible value for my shares, just solve any "difficulties" for shareholders to be rewarded, simple as that...not really rocket science as some seems to believe!!
When do you think is the most appropriate time to buy in to the desired stake in the MF? F.e. if Siaf spin SJAP and could have a boatload of money from there? It doesn't seems like an asap option to fulfil for you, which I do not fully understand, if so....?
I really do not see a problem "losing" the Sjap part from our books, it's all about the MF anyways imo