Sino Forest
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Wertpapier: Sino Forest |
Dann werde ich übermorgen mein Post noch einmal wiederholen :-))
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PR Newswire · Mehr Nachrichten von PR Newswire
Sino-Forest Provides Update Regarding Note Holder Default Notices and Comments on the Status of its Historic Financial Statements
TORONTO, Jan. 10, 2012 /PRNewswire/ - Sino-Forest Corporation ("Sino-Forest" or the "Company") (TSX:TRE) today provided an update concerning the status of the Company's efforts to obtain waivers of its default from its note holders in respect of its Senior Notes due 2014 and its Senior Notes due 2017, and commented on the status of its historic financial statements.
As disclosed in the Company's December 18, 2011 press release, Sino-Forest received written notices of default dated December 16, 2011in respect of its Senior Notes due 2014 and its Senior Notes due 2017. The notices reference the Company's previously disclosed failure to release its 2011 third quarter financial results (the "Q3 Results") on a timely basis. An "Event of Default" under the Senior Note Indentures will have occurred if Sino-Forest fails to cure or otherwise fails to address the breach of indenture giving rise to the notices of default within 30 days following receipt of the notices. The Company will not be able to file the Q3 Results and cure the default within the 30 day cure period.
The Company's breach of the Senior Note Indentures relating to the Q3 Results can be waived for a series of Senior Notes by the holders of at least a majority in principal amount of that series.
The Company has been in discussions with an ad hoc committee of note holders that hold a substantial portion of the Company's four series of senior and convertible notes. The Company and the ad hoc committee have negotiated the terms under which the defaults under the Senior Notes will be waived. While there is no assurance that waivers will be obtained, the Company is optimistic that holders of a majority in principal amount of its Senior Notes due 2014 and its Senior Notes due 2017 will agree to waive the breach within the 30 day cure period.
On November 15, 2011, Sino-Forest announced, among other things, that it was deferring the release of the Q3 Results until certain issues could be resolved to the satisfaction of the Board of Directors. The issues included (a) determining the nature and scope of the relationships between Sino-Forest and certain of its authorized intermediaries and suppliers and among certain authorized intermediaries and suppliers, as discussed in the Second Interim Report of the Independent Committee of the Board of Directors publicly released on November 15, 2011, and (b) the satisfactory explanation and resolution of issues raised by certain documents identified by the advisors to the Independent Committee, by counsel to the Company, by the Company's auditor Ernst & Young and by staff of the Ontario Securities Commission.
The Company has worked diligently since November 15, 2011 and believes it has made progress in resolving outstanding issues. As disclosed in the Company's December 12, 2011 press release, there is no assurance that the Company will be able to release the Q3 Results or, if able, as to when such release will occur. For the same reasons, there is also no assurance that the Company will be able to release audited financial statements for its 2011 fiscal year.
As was indicated in the Company's December 12, 2011 press release, the circumstances that could cause the Company to be unable to release the Q3 Results could impact the Company's historic financial statements. For this reason, the Company cautions that the Company's historic financial statements and related audit reports should not be relied upon. The Company continues its efforts to resolve the outstanding issues described above. The Company believes that if it is successful in releasing its Q3 Results and in obtaining an audit opinion for its 2011 fiscal year, those efforts will resolve any issues associated with the reliability of the Company's historic financial statements.
Man weiß ja nie :-)))))
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http://www.agrimoney.com/news/...s-boost-subsidiarys-shares--4031.htm
Sino-Forest deal hopes boost subsidiary's shares
Shares in timber company Greenheart Group soared 50% after its parent company, Sino-Forest Corporation, revealed headway in a quest for clemency from investors, who have placed it on notice of default.
Sino-Forest, which has until Sunday to prevent complaints lodged by bondholders last month crystallising in full-blown default, said it was "optimistic" that it could negotiate a waiver of its breaches of bond terms.
That would require Sino-Forest, which has proposed measures including asset sales to tackle a financial crisis, gaining the support of a majority of holders of 2014 and 2017 notes.
Sino-Forest's predicament stems from fraud allegations lodged by Muddy Waters, a short-selling fund, claims which escalated into internal and external investigations into the Chinese forestry group, and the suspension of its shares, which are listed in Canada.
'Made progress'
Bondholders' complaints centre around Sino-Forest's failure to file third-quarter results, although the group has also withheld interest payments on some convertible notes.
And Sino-Forest admitted on Wednesday that there was "no assurance" that it would be able to release the results � and statements for the full-year 2011 too.
However, the group said it had "made progress in resolving outstanding issues" from an internal inquiry, which left unanswered some questions, including some over Sino-Forest's relations with some suppliers.
Shares in Greenheart Group, of which Sino-Forest owns 63.6%, closed up HK$0.30 at HK$0.90 on Wednesday.
Greenheart Group holds forestry in Suriname and New Zealand aimed at providing timber for the Chinese market.
Aber die Meldung ist durchaus als positiv zu bewerten, da die Noteholder wohl nicht unbedingt gewillt sind, mit der Brechstange gegen Sino vorzugehen, sondern "Verständnis" für die Situation aufbringen. Dementsprechend wohl noch der Glaube an Sino vorhanden ist...
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Wertpapier: Sino Forest |
Greenheart Group also die Tochter war ja ausgesetzt.
Diese ist allerdings wohl wieder handelbar wie auch das Kursfeuerwerk
auf deren Handelsplätze bestätigt über 63 % schon Plus.
Also wird man wohl auch Sino am 25.01. 12 an den Start lassen
was man der der Tochter genehmigt kann man der Mutter fährer weise
nicht verbieten.
Jetzt könnte doch noch mal Schwung in die Sache kommen.
Da könnten Kurse kommen, die mit einer fairen Bewertung nicht mehr viel zu tun haben.
Shorties zieht euch warm an.
fährer weise - fairerweise
Peter Koven Jan 11, 2012 – 9:10 AM ET | Last Updated: Jan 11, 2012 9:19 AM ET
Xavier Ng/Reuters
Reuters
Quelle:
[url]http://business.financialpost.com/2012/01/11/...et-debt-waiver/[/url]
Sino-Forest Corp. said it is “optimistic” that it will reach a deal with bondholders to waive a default breach on the company’s US$1.8-billion of debt.
The scandal-plagued forestry firm received notices of default on Dec. 16 regarding its senior notes, which triggered a 30-day period for the company to address the breach. Sino warned that it will not be able to file its overdue third quarter results and cure the default within 30 days, as its special committee is still trying to complete its investigation.
However, Sino is in talks with the noteholders, and is optimistic that holders of a majority of its debt due in 2014 and 2017 will agree to waive the breach. That would give the committee more time to finish its work and allow Sino-Forest to potentially become viable again.
“The company and the ad hoc committee have negotiated the terms under which the defaults under the senior notes will be waived,” Sino said in a statement.
Shares of Greenheart Group Ltd., a public timber company controlled by Sino-Forest, jumped 50% in Hong Kong trading on the news.
Sino has been operating under a black cloud since last June, when short seller Muddy Waters LLC accused the company of fraud. The Ontario Securities Commission halted trading of the stock in August.
As the committee’s investigation into the company continues, Sino warned that its historic financial statements and related audit reports should not be relied upon. The committee is trying to unravel the company’s complex web of third party relationships and get answers to questions about unusual documents. The OSC and the Royal Canadian Mounted Police are also investigating the company.
Moderation
Zeitpunkt: 12.01.12 10:56
Aktionen: Löschung des Beitrages, Nutzer-Sperre für 2 Tage
Kommentar: Doppel-ID - 2 Tage Sperrung wegen zwei Doppel-ID´s
Zeitpunkt: 12.01.12 10:56
Aktionen: Löschung des Beitrages, Nutzer-Sperre für 2 Tage
Kommentar: Doppel-ID - 2 Tage Sperrung wegen zwei Doppel-ID´s
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| Boardmail an "Bavarian.Lucky.7" |
Wertpapier: Sino Forest |
ARM oder REICH :-))))
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| Boardmail an "Rosalie" |
Wertpapier: Sino Forest |
Allerdings wird es m.E. schwer mit der Handelsaufnahme, solange der Q3-Bericht nicht vorliegt.
Zumindest wäre dieses wohl ein Grund, den TH zu verlängern oder?
Die Fantasie wird den Kurs beflügeln :-)))
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| Boardmail an "Rosalie" |
Wertpapier: Sino Forest |
Also wird der Start wohl wie beantragt am 25.01.12 in Toronto
stadt finden.
vielleicht kann mir jemand ne anleitung geben?
Danke im Voraus
Könnte Deine Kreissparkasse ja eigentlich auch so machen und wenn die keine Ahnung haben MaKa ,sollte man vielleicht sein Handelskonto einer anderen Bank übertragen !!
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Wertpapier: Sino Forest |
Damit ist Sino gerettet.
Hoch Gepockert Sino -- Respekt Sino --Respekt--
http://www.finanznachrichten.de/...nior-notes-on-agreed-terms-008.htm
12.01.2012 | 17:40
(
PR Newswire · Mehr Nachrichten von PR Newswire
Sino-Forest Corporation's Noteholders Waive Default under Senior Notes on Agreed Terms
TORONTO, Jan. 12, 2012 /PRNewswire/ - Sino-Forest Corporation ("Sino-Forest" or the "Company") (TSX: TRE) today announced that holders of a majority in principal amount of its Senior Notes due 2014 and its Senior Notes due 2017 have agreed to waive the default arising from the Company's failure to release its 2011 third quarter financial results (the "Q3 Results") on a timely basis. The Company also announced the terms under which its noteholders agreed to waive the default.
As disclosed in the Company's December 18, 2011 press release, Sino-Forest received written notices of default dated December 16, 2011in respect of its two series of Senior Notes. The notices referenced the Company's previously disclosed failure to release the Q3 Results on a timely basis. The Company's breach of the Senior Note Indentures relating to the Q3 Results could be waived for a series of Senior Notes by the holders of at least a majority in principal amount of that series.
Following extensive discussions with an ad hoc committee of noteholders (the "Ad Hoc Noteholders"), holders of a majority in principal amount of the Company's two series of Senior Notes agreed to waive the default. The material terms of the waiver agreements are described below.
The Company will file the waiver agreements on SEDAR www.sedar.com and on the Company's website www.sinoforest.com.
Payment of Interest on Notes, Waiver Fee and Advisor Costs
Pursuant to the waiver agreements, the Company has agreed to make the US$9.775 million interest payment on its 2016 Convertible Notes that was due on December 15, 2011. The Company also has agreed to continue to pay when due interest on the Convertible Notes due 2013 and 2016 and on the Senior Notes due 2014 and 2017.
The Company has agreed to pay a waiver fee of 1% of the principal amount to all holders of the Senior Notes due 2014 and 2017. The aggregate waiver fee to be paid is US$9,991,870. In addition, the Company has agreed to pay the fees of the advisors to the Ad Hoc Noteholders (the "Ad Hoc Committee Advisors"). Goodmans LLP and Hogan Lovells LLP are acting as legal advisors to the Ad Hoc Noteholders.
Release of Q3 Financial Results
Sino-Forest has agreed to use its reasonable best efforts to address outstanding issues noted in its press release dated December 12, 2011in order to file its Q3 Results.
Ontario Securities Commission Cease Trade Order
On August 26, 2011, the Ontario Securities Commission issued a temporary cease trade order against the Company and others. On September 8, 2011, the Company consented to an extension of the cease trade order against the Company to January 25, 2012. The Company has agreed to a further extension of the cease trade order, and there are ongoing discussions between the Company and staff of the Ontario Securities Commission with respect to the term of any extension. In the waiver agreements, the Company has agreed to file an application to lift the cease trade order as soon as practicable.
Maintenance of Cash Balances
The Company has agreed that it and its subsidiaries will maintain in aggregate a minimum cash balance inside the People's Republic of China(excluding Hong Kong) of US$165 million and a minimum cash balance outside of the People's Republic of China (including Hong Kong) of US$140 million. The Company also has agreed to take steps to manage liquidity and to monetize assets for the repayment of the Company's indebtedness.
Strategic Plan
The Company has agreed to provide a strategic plan to the Ad Hoc Committee Advisors on or before March 31, 2012, and to keep them informed of the progress of this effort. The strategic plan will include an indicative timeline for any sale process, capital or equity process and will address to the extent practicable such other steps that are necessary to maximize value in respect of the Company's assets.
Governance
The Company also has agreed that the constitution and size of, and governance matters related to, the Board of Directors of the Company and any committees, including the Strategic Restructuring Committee of the Board of Directors, will be satisfactory to the Ad Hoc Committee Advisors, on behalf of the Ad Hoc Noteholders, by no later than March 31, 2012. Thereafter, any governance changes must be satisfactory to the Ad Hoc Committee Advisors on behalf of the Ad Hoc Noteholders. Sino-Forest has agreed that there shall be no appointment of any new members to the Board of Directors, senior officers or any chief restructuring officer unless such appointment is on terms satisfactory to the Ad Hoc Committee Advisors on behalf of the Ad Hoc Noteholders.
Access to Information
To the extent permitted by law and the terms of any contractual confidentiality obligations, the Company has agreed to provide the Ad Hoc Committee Advisors with access to the Company's premises, assets, accounts, books and records, and to make advisors to the Company and appropriate officers of the Company with relevant information available for discussions with these advisors. The Ad Hoc Committee Advisors have executed confidentiality agreements with the Company. The waiver agreements contemplate that the Ad Hoc Noteholders also may receive confidential information upon execution of confidentiality agreements in a form acceptable to the Company.
The Company has also agreed to keep the Ad Hoc Committee Advisors reasonably informed regarding any material discussions with any party with respect to any material transactions concerning the Company. Where deemed appropriate by the Company, the Company also will provide the Ad Hoc Noteholders or the Ad Hoc Committee Advisors with an opportunity to participate in such discussions.
Restrictions on Material Transactions and Shareholder Distributions
The waiver agreements also contain restrictions on the Company's ability to enter into material transactions, sell all or substantially all of its assets, and to enter into transactions outside of the ordinary course of business.
The Company has agreed not to make or pay any dividend, charge, fee or other distribution to its shareholders or subsidiaries. The Company has agreed to restrictions on the additional indebtedness it may incur.
Final Report of the Independent Committee
The Company has agreed that the Independent Committee of the Board of Directors will deliver its final report and that such report will be made public by January 31, 2012. Thereafter, any residual matters or issues identified in the final report or earlier reports of the Independent Committee shall be addressed by the Company and its advisors in consultation with the Ad Hoc Committee Advisors.
The Company believes that any residual matters or issues identified by the Independent Committee are best and more efficiently addressed by the Audit Committee or the Special Restructuring Committee, working in consultation with the Ad Hoc Committee Advisors.
Conditions to and Termination of Waiver
The waiver will terminate on the earlier of April 30, 2012 and any earlier termination of the waiver agreements in accordance with their terms, unless extended by the parties. The waiver agreements contain covenants (many of which have to be satisfied by March 31, 2012), the breach of which would entitle the Ad Hoc Noteholders to terminate the waiver upon 30 days notice to the Company. In addition, the waivers will immediately terminate upon the Company or any of its subsidiaries becoming subject to certain insolvency, receivership or bankruptcy proceeding without the prior written consent of holders of a majority of the principal amount of the series of notes to which the waiver relates.
About Sino-Forest Corporation
Sino-Forest Corporation is a leading commercial forest plantation operator in China. Its principal businesses include the ownership and management of tree plantations, the sale of standing timber and wood logs, and the complementary manufacturing of downstream engineered-wood products. Sino-Forest also holds a majority interest in Greenheart Group Limited (HKSE:00094), a Hong-Kong listed investment holding company with assets in Suriname (South America) and New Zealand and involved in sustainable harvesting, processing and sales of its logs and lumber to China and other markets around the world. Sino-Forest's common shares have been listed on the Toronto Stock Exchange under the symbol TRE since 1995. Learn more at www.sinoforest.com.
No stock exchange or regulatory authority has approved or disapproved of information contained herein. Certain information included in this news release is forward-looking and is subject to important risks and uncertainties. When used in this news release, the words "believe", "intend", "estimate", "expect", "plan", "consider", "may", and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. These forward-looking statements are based on current expectations. The results or events predicted in these statements may differ materially from actual results or events and are no guarantees of future performance of Sino-Forest. Factors which could cause results or events to differ from current expectations include, among other things: our ability to cure our default under our notes, actions taken by note holders, other lenders, other creditors, shareholders, regulators, governmental agencies and other stakeholders to enforce their rights, the outcome of examinations currently underway by the Independent Committee, securities regulatory authorities and the Company's auditors, the outcome of class action proceedings initiated against the Company as a result of allegations made in the 'report' issued by Muddy Waters LLC, our reliance on key employees, our ability to acquire rights to additional standing timber, our ability to meet our expected plantation yields, the cyclical nature of the forest products industry and price fluctuation in and the demand and supply of logs, our reliance on the relationship with local plantation land owners and/or plantation land use rights holders, authorized intermediaries, key customers, suppliers and third party service providers, our ability to operate our production facilities on a profitable basis, changes in currency exchange rates and interest rates, the evaluation of our provision for income and related taxes, economic, political and social conditions and government policy in China, the Republic of Suriname and New Zealand, and stock market volatility, and other factors not currently viewed as material that could cause actual results to differ materially from those described in the forwarding-looking statements. For additional information with respect to certain of these and other factors, see the reports filed by Sino-Forest Corporation with applicable Canadian securities administrators. Sino-Forest Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
erst einmal vielen DANK für die Recherche.
Für mich ist Sino Forest ein Zock.
Sicher kann man sich bei solchen Werten selbst jetzt noch nicht sein.
Die Wahrscheinlichkeit das ALLES ein gutes Ende findet, hat sich aber deutlich erhöht.
Ich habe dieses Spiel vor ein paar Wochen mit Thomas Cook auch schon erfolgreich gespielt.
Habe auch schon oft bei anderen Werten daneben gelegen.
Aber - man kann ja nur 100% verlieren und XXX% gewinnen.
http://www.aastocks.com/EN/stock/...uote.aspx?&symbol=000…
Monaten die erste Positive News in Sache Zukunft abgeliefert und wohl doch noch mal die Kurve in der letzten Minute gekratzt und wird wohl bis März verkauft sein und hier rafft es keiner.
Muss gerade echt Lachen---
Und ,bist du wieder dabei und hast in der Tiefphase bei L&S gekauft !!!!
Denn kurz vor Handelsaussetzung im August warst Du ja raus .
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Wertpapier: Sino Forest |
an zu fassen -
Aber wie ich an L& S sehe hat man die Rettung von Sino wohl noch gar
nicht verstanden- News verstehen ist nicht so einfach-