PGW - PGG Wrightson

[Agrarinvestor]

I am guessing a 'majority share' is the sticking point because that gives the majority shareholder, if they have "bad character", control of the company. However selling down from 50.1% to 49.9% is not a solution as explained in my previous post. For the record, I don't expect Alan Lai to fail the "good character" test because of any failings of Agria. When an investment doesn't go to plan there are always disgruntled investors. That doesn't necessarily mean the original promoter of the investment was a crook. I think the record of Alan Lai supporting PGW in New Zealand over the last ten years has been good.

SNOOPY

Hi all,

i hope that Alan is of good character. I know very well that Agria has never inflated the stock price. They provided us a calculation about the fair value of Agria. This calculation
was based on the assets in PGW. They came to the fair value of 1.6$. This calculation does not include tha land use right of 60 million US Dollar. I expect a fair offer above 1.6US$
The delisting is now 14 month old. We still miss a solution for us minority holders. The communication from the company is poor.

greetings from Germany

Agrarinvestor

[Agrarinvestor]

I just found what Agra will offer us. It looks like nothing! We have to pay if we want change our ADS into ordinary shares. An we have NO rights if we are owners of ordinary shares. Alan Lai can
eat all the dividends that came from PGW, and we will receive nothing.

http://markets.businessinsider.com/n...ion-1011643699

[Snoopy]

I just found what Agra will offer us. It looks like nothing! We have to pay if we want change our ADS into ordinary shares. An we have NO rights if we are owners of ordinary shares. Alan Lai can
eat all the dividends that came from PGW, and we will receive nothing.

http://markets.businessinsider.com/n...ion-1011643699

I must say I am horrified that you (and Agria shareholders in general) have to pay money to get your own shares back and following that procedure there is no market in which to sell them!

I sympathize with you in all respects Agrainvestor, except one. You should have known that Agria was a 'high debt' share and would therefore 'eat all the PGW dividends' to service their own debts. The leveraged shell that Agria is, was always a gamble in this respect.

SNOOPY

[Agrarinvestor]

Snoopy,
I believed the story that AGRIA will sell and produce PGW quality seeds in china. I thought that this will be a win win situation for both companies.
Despite that, the Assets of PGW are worth 1.6 Dollar per AGRIA ADS. They gave us an offer for a going private of 1.2$. They told us that 1.6$ plus chinese assets is the fair value .
I will try to talk to the OIO if we soes not here positive news from Agria this week.
nav.PNG

[theace]

I've decided to pull out of this one for now. Find another place to park the $.

[Snoopy]

I've decided to pull out of this one for now. Find another place to park the $.

Ironically if Alan Lai is judged as being of bad character and is forced to sell his PGW stake, any buyer will have top make an offer for all the rest of PGW as well. In that instance minority shareholders could be up for a big payday!

SNOOPY

[Brain]

That is if the stake was sold to one entity. Isn’t it more likely there would be a number of prospective purchasers?

[macduffy]

That is if the stake was sold to one entity. Isn’t it more likely there would be a number of prospective purchasers?

Yes, I would think so. Would it be too hard for a broker to organise a placement in current market conditions?

[Lola]

I've decided to pull out of this one for now. Find another place to park the $.

Think ALF?

[Agrarinvestor]

Dear PGW Investors,
be careful with your investments in PGW. AGRIA was delsited at NYSE. Shareholder Interest of minority shareholders are completely ignored. We are now minority owners into
a chinese based company.