End of the Line for Listed Agria?
Quote:
Originally Posted by
Agrarinvestor
Help!!!!
Agria's CEO Adam Lai will oust their shareholders. 2 Years ago they write off 65 million land use rights. The arable land was purchased for sheep breeding 8 years ago. Lamb price demand is increasing in china. Therfore it is not acceptable that they wrote of 65 Million shareholder assets!
The CEO will do everything to destroy shareholder value.
Agrainvestor, at the moment this is only a proposal and there is no guarantee that the independent directors will accept the proposed offer of $US1.20 per ADR as reasonable. On the face of things it looks opportunisitic. The Agria share price only dipped below $US1.20 on 12th January 2016. Remember Agria will have problems with the listing authorities in the USA if their share price is below $1 for a sustained period. So floating the possibility of a takeover offer at $1.20 is one way to stop that.
Not sure you can object to a previous accounting period write down at this late stage. It is the sort of thing that you should have brought up at the relevant AGM at the time.
As a minority shareholder you are in for the ride now. What will happen, will happen. If you are pushed out, take your money and reinvest in PGW directly.
SNOOPY
Takeover Panel Weigh's bid for PGW
http://www.nzherald.co.nz/business/n...ectid=11600252
http://www.sharechat.co.nz/article/8...y+5+March+2016
Looks like PGW could be in play...one way or other it looks sound value to me at 41.5 cps trading cum a fully imputed 1.75 cps dividend.
Takeover bid that wasn't all over
Quote:
Originally Posted by
Snoopy
Agrainvestor, at the moment this is only a proposal and there is no guarantee that the independent directors will accept the proposed offer of $US1.20 per ADR as reasonable. On the face of things it looks opportunisitic. The Agria share price only dipped below $US1.20 on 12th January 2016. Remember Agria will have problems with the listing authorities in the USA if their share price is below $1 for a sustained period. So floating the possibility of a takeover offer at $1.20 is one way to stop that.
Controlling Agria Alan Lai has withdrawn his preliminary non binding intent to make an offer for all of Agria! Consequently the committee formed by PGW independent directors to consider the downstream consequences of this has been dissolved. Agrinvestor will not be forced out of Agria! But the share price of Agria is only US98c. That is below the price that the NYSE regards as acceptable in the long term. The Agria (GRO) share price has flirted with the dollar level before.
Not sure how to fix this as while PGW is profitable, the leveraged buyout vehicle Agria that holds the PGW controlling stake is not. Possibly Alan Lai could make a preliminary non binding share consolidation proposal for GRO?
SNOOPY