Replies to post #146561 on Sino Agro Food Inc (fka SIAF)

[Chrysanthemis]

Thanks for the clarifications. Just one more aspect if you do not mind.

If I understand things right, if they turn back the clock, 12.71 M TRW shares are returned to TRW in exchange for the cleared accounts receivable of 43.3 MUSD, thus reversing the 2017 operation.

But in the meantime, the amount due from TRW to SIAF has increased to 62.3 MUSD(*), which now is the amount that TRW will clear against shares according to the announcement.

To be able to swap the 62.3 MUSD of debt for 18.3 M shares as announced, TRW would reasonably need 5.59 M additional shares. If these would come from SIAF, the debt owed by TRW to SIAF would, I presume, need to go up by some 19 MUSD to compensate for the transfer?


(*) this is in line with the 10Q report for Q2 2018 where the total accounts receivable due from TRW to SIAF at 30.6.2018 stood at 53 MUSD (page F-45), and this should, I presume, have increased until now.