Another fine mess at PGW – blame the OIO
ANALYSIS: The listed company’s former chair has returned seeking to roll the board, despite failing the good character test for overseas investors.
Not such a good boy.
Perhaps it is simplest to begin by quoting the US Securities & Exchange Commission.
It said: “The SEC order found that Agria overstated the value of the stock it received by US$17 million [$28m] and assigned a value of nearly US$60 million to the effectively worthless land use rights.”
Charles
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