In the past it has often been the case that projects were already well under way even though the announcement came later. This has to do with delays in regulatory approval or whatever.
And for the trade division we have a similar situation. If they are buying/selling goods now then the cash flow will materialize 30 to 60 days later.
Which means they should have a pretty good idea, now, about cash flow. Perhaps even months ago.
We already have the appraisal. I showed it to you yesterday in the link I provided. I don't know what more we can expect or how much they can disclose, or when. Hopefully we will get more details about TRW earnings from the past year. They could put it on their website.
What do you mean, bad wording? TRW is settling account receivables. There is a pretty good chance that SIAF will retain 36.6% after the distribution. If not, TRW will owe SIAF $112M. How do they ever plan on paying that? It's a simple matter of negotiation. SIAF may have to pay a bit more than $3.40 per TRW share but that shouldn't be a problem. They can set the trend for the pre-IPO investors ;-)