Replies to post #44421 on Sino Agro Food Inc (fka SIAF)

[viking86]

I am more concerned about #4.12 of the FN Rule Book (see below) re. the complete and instant disclosure of new shares being issued by Company, which I think is the main reason Penser Bank has held up the listing of SIAF. B/c the way SIAF has been handling disclosure of share issuance is totally inacceptable on FN and would jeopardize PB's reputation as the Certified Advisor. Note that b/w May 9 (the date they last met with PB) and June 30, 2013 SIAF had issued 5m more shares that would have been inevitable from past commitments that PB knew very well about. That's why PB wanted to see dilution come to an end by virtue of a bond or other means before they would submit the listing to FN.

4.12
Offering of new shares

Where the Board of Directors or the general meeting of shareholders of the Company has adopted a resolution in respect of the issuance of new shares or financial instruments with a right to subscribe for newly issued shares or where the Board of Directors decides to propose such a resolution to the general meeting of shareholders, the Company shall immediately publish the resolution, the reasons for the issue, the principal terms and conditions for the issue, as well as the party/parties to whom the issue is directed.

http://www.nasdaqomx.com/digitalAssets/77/77427_first_north_rulebook_2012_02_01.pdf