PGW - PGG Wrightson

[Master98]

Are you sure the loan repayment would go to PGW? I think the loan was from the former PGW Finance, now a part of Heartland NZ.

PGW keep the crafar loan in a special vehcile, didn't sell to HNZ.

[Master98]

Means a takeover?

My understanding is this 50.1% holding already in foreign hand, if New hope buy this lot they don’t need to get OIO approve, also New Hope was part of the group to partially takeover pgw.

[Snoopy]

My understanding is this 50.1% holding already in foreign hand, if New hope buy this lot they don’t need to get OIO approve, also New Hope was part of the group to partially takeover pgw.

I think Master that if an overseas outfit wanted to buy the 50.01% Agria stake they would still need OIO office approval. However, unless the buyer was of dubious character I would suggest that this is unlikely to prove a problem. And yes such an acquisition would probably mean that the buyer would have to bid for the whole company - probably.

I say probably because the Agria listed on the NYSE is the parent company of Agria Singapore that holds the PGW shares. So it might be that shareholder shuffling in the unlisted Agria Singapore could pay out the listed USA arm. If that were to happen the ownership of the controlling stake in PGW would still belong to Agria Singapore (albeit with different shareholders) so no takeover bid for the rest of PGW would be necessary under the NZ takeover code.

SNOOPY

[Snoopy]

Agria now trading at 93c. Seems to have been under $1 since June 11th. The clock is ticking on suspension of trading of Agria shares on the NYSE!

Agria (GRO) is putting up a fight! After spending most of June below $1, on 28th June there was a rally, if the rise in share price to $1.02 can be called that!. Has been bouncing between $1 and $1.02 since then. Knife edge stuff.

SNOOPY

[Master98]

40m shares changed hand, who are they?

[Master98]

40m shares changed hand, who are they?

Only PGC has such large stake, it is good let this troubled shareholder go.

[Master98]

The vultures have been waiting for this ...

We are just little bugs, but be quick untill everthing is gone

[Newman]

We are just little bugs, but be quick untill everthing is gone

What did you mean by "everything is gone"?

[Snoopy]

Agria (GRO) is putting up a fight! After spending most of June below $1, on 28th June there was a rally, if the rise in share price to $1.02 can be called that!. Has been bouncing between $1 and $1.02 since then. Knife edge stuff.

Agria dips below $1 on 5th July. 6th July price is 96c!

SNOOPY

[Master98]

As I know PGW already ramp up to sell seeds and live stock to china market through their beijing office, so there will be a big jump in revenue in fiscal year 2013.