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