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23-12-2018, 02:01 AM
#4391
Member
PErhaps you remember me. I'm the idiot that has made a direct investment in AGRIA. I thought that Agrias investment in PGW will gurantee that AGRIA will not be a fraudster.
I was completly wrong. Perhaps you have the same anger like me on Adam Li. What do you think will the government of China think about corrupt criminal CEO's?
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23-12-2018, 09:08 AM
#4392
Member
Originally Posted by Agrarinvestor
PErhaps you remember me. I'm the idiot that has made a direct investment in AGRIA. I thought that Agrias investment in PGW will gurantee that AGRIA will not be a fraudster.
I was completly wrong. Perhaps you have the same anger like me on Adam Li. What do you think will the government of China think about corrupt criminal CEO's?
Perhaps you could email Pres. R. Trump, he may have an opinion on China's corrupt criminals.
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23-12-2018, 09:35 AM
#4393
Agriainvestor there has been a series of good articles on Agria/Lai/PGW in the National Business Review recently. Behind a paywall unfortunately but I think you would find them very interesting. Mr Lai even responded to one of them in the NBR but they did not stop publishing what their investigation found, which is not pretty
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23-12-2018, 12:28 PM
#4394
Originally Posted by Agrarinvestor
PErhaps you remember me. I'm the idiot that has made a direct investment in AGRIA. I thought that Agrias investment in PGW will gurantee that AGRIA will not be a fraudster.
I was completly wrong. Perhaps you have the same anger like me on Adam Li. What do you think will the government of China think about corrupt criminal CEO's?
They execute them over there.
NZ gives the corrupt and criminal CEOs and fraudsters/directors knighthoods and slap them really hard with wet bus tickets.
Mention 'finance company directors' and you know how NZ simply loves crooks.
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23-12-2018, 12:29 PM
#4395
Originally Posted by waikare
Perhaps you could email Pres. R. Trump, he may have an opinion on China's corrupt criminals.
You think he has an opinion on American crooks?
Guess he doesn't as he is one, huh?
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23-12-2018, 02:57 PM
#4396
Is the seeds sale still a goer? SP suggests not.
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24-12-2018, 07:25 AM
#4397
Originally Posted by Snow Leopard
Is the seeds sale still a goer? SP suggests not.
The assumption here is that the seeds sale will be 'value accretive' to all shareholders. Have you considered that the seed sale will 'save' Agria from their immediate cash problems, but be negative for shareholders in the medium term? After all former CEO's Mark Dewdney's 'One PGW' strategy was heralded as the way forwards at the time and it is unclear why this would have changed.
Another possibility is that although the two largest shareholders (Agria and Ngai Tahu) have rearranged their shareholdings to the extent that combined, they still hold the same combined percentage of shares as before the rearrangement exercise, something has changed. The seed business is no longer 'foreign controlled'. So now the Danish takeover means that the seed business will pass into foreign control from ostensibly NZ control. It could be easier for the OIO to turn down such a deal now, whereas before control was simply passing from one foreign owner to another.
SNOOPY
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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24-12-2018, 12:56 PM
#4398
Originally Posted by Snoopy
The assumption here is that the seeds sale will be 'value accretive' to all shareholders. Have you considered that the seed sale will 'save' Agria from their immediate cash problems, but be negative for shareholders in the medium term? After all former CEO's Mark Dewdney's 'One PGW' strategy was heralded as the way forwards at the time and it is unclear why this would have changed.
Another possibility is that although the two largest shareholders (Agria and Ngai Tahu) have rearranged their shareholdings to the extent that combined, they still hold the same combined percentage of shares as before the rearrangement exercise, something has changed. The seed business is no longer 'foreign controlled'. So now the Danish takeover means that the seed business will pass into foreign control from ostensibly NZ control. It could be easier for the OIO to turn down such a deal now, whereas before control was simply passing from one foreign owner to another.
SNOOPY
Actually defination of overseas control = major shareholding of 25% or more (in the absence of a local major 25% or greater stake).
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24-12-2018, 01:04 PM
#4399
Originally Posted by Balance
Actually defination of overseas control = major shareholding of 25% or more (in the absence of a local major 25% or greater stake).
Thanks for that. Does this mean that the New Zealand OIO forcing Agria to reduce its stake' in PGW from 50.2% to 46.6% is just the beginning of a process to reduce the Agria stake to below 25%? If what you are telling us is correct Balance, and I have no reason to doubt you, then it would seem that Agria reducing its stake' in PGW from 50.2% to 46.6% has no real significance - on its own. There could be a book build going on right now to reduce that stake further. That could be a good enough reason alone to explain the soft PGW share price. Furthermore if that is the reason for the PGW share price fall, it doesn't necessarily mean the sale of the seed business is off?
SNOOPY
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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24-12-2018, 03:54 PM
#4400
This you Snoopy?
Notice of Acquisition of Shares
"PGG Wrightson Limited (PGW) intends to acquire certain shares from one shareholder pursuant to section 112 of the Companies Act 1993 (the Act). The relevant shareholder voted all of their shares in PGW against the special resolution in relation to the sale of all of PGW’s shares in PGG Wrightson Seeds Holdings Limited to DLF Seeds A/S, which was approved on 30 October 2018. The relevant shareholder subsequently exercised their minority buy-out rights pursuant to Section 110 of the Act."
Must admit I did not know we could do this.
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