AGT going private

[bucket]

Not defending Katib, but the break fee is to cover part of the costs to put together the financing. Fairfax would get a hefty fee to look at the deal and probably even more if it proceeds. It won't go to pad his bank account.

The reason he is going private is because the shares are undervalued in his opinion which likely puts him in breach of his lending covenants with current lenders. If his current package was put in place when the share price was much higher his debt to equity would be off. I have talked to several people who went public and regretted it exactly because of the way the market doesn't value potential as much as steady results every quarter. Small business rarely works that way.

His shares are undervalued because when they phone me to ask if I am interested in doing business and their price is the same as Richardson or viterra but want me to finance him for 3 weeks ....as far as being businessman of the world. ....it don't matter he's not getting my product....


BTW neither does viterra because I can't leave with a scale ticket....

But AGT in the last three weeks has seen a 1.20 a bushel increase on their inventory. ...some invested in them might start to ask questions ...

When they called me they were at 17.5 on reds. ...had I sold by the time I delivered it would have been 18.5......

I don't need assholes calling me and not answering truthfully about the outlook on price....


I already pay a checkoff for that kind of misinformation or lack of new information.

AGT doesn't portray itself as a small business....billions in sales ...very little profit. ...and a constant intravenous of government money and photo ops.....