G3 owners

[wmoebis]

Trying to watch Bunge/Viterra deal I Google searched who owns G3 Grain. Nowhere does it say that Canadian farmers own any shares in G3 only Salic and Bunge. Did farmers get bought out or what happened to their shares?

Just asking I haven't been following what is happening with them.

[farmaholic]

"Statements" get mailed. I can't imagine anything will come of them.
Remember how Mr. Mayo was able to devalue the shares of SWP.

"Wooden Nickel token shares"....

[farmaholic]

To me it sounded and looked more like a "patronage dividend".
The $5/t is "granted", it's not like the equity was literally paid for.
I don't know how anyone will get their money out.

[farmaholic]

Dig here...

[wmoebis]

This is about as good as I could come up with. Did farmers do themselves justice by this deal? After all they put Ritz into the Hall of Fame for masterminding it.

I was only wondering if I was missing something and farmers were going to win or lose with Bunge/Viterra deal. Like Paul Harvey saying "And now for the rest of the story" LOL

[url]https://www.producer.com/news/farmers-retain-role-in-g3-thanks-to-cwb-legacy/[/url]

[Rareearth]

When G3, took control of the Canadian Wheat board assets, I didn’t receive any G3 shares that should have represented the CWB asset value.

[farmaholic]

Seems to me G3 had to allocate $5/t back to Producers who delivered to them. I don't know if they reached that cap yet or where they are in that process. The information that comes out with the yearly statement from the "Trust" company usually showed how much more they needed to allocate to Producers yet.

That hardly seems fair to the producers who never had a viable G3 delivery option.

[farmaholic]

From their website, Says something about 499,000 trust units first available and as of Nov 30/2024 the number of units available for full allocation is nearing completion.

What is each unit actually worth, they're considered a Class B share in G3.

If each unit was initially valued at $5, does that mean there was only $2,495,000 value in CWB "assets" coming back to Producers who delivered to G3 since they took over?

Question will be what are the units worth now or in the future?
Will this end well for Producers?

[farmaholic]

Here:
[url]https://www.farmersequitytrust.ca/faqs[/url]

[bucket]

I don't know all the details but the first thing that should have happened is Bunge should be divested of G3. Not sure there will be anything stopping Bunge from buying out G3 now. This sets a precedent.

[sumdumguy]

Trudeau would love to leave us all out to dry.

[foragefarmer]

This is about as good as I could come up with. Did farmers do themselves justice by this deal? After all they put Ritz into the Hall of Fame for masterminding it.

I was only wondering if I was missing something and farmers were going to win or lose with Bunge/Viterra deal. Like Paul Harvey saying "And now for the rest of the story" LOL

[url]https://www.producer.com/news/farmers-retain-role-in-g3-thanks-to-cwb-legacy/[/url]

While farming Ritz was involved in an Ostrich Ponzi Scheme before becoming a politician.

Funny how it's become the norm that if you're a dud in the real world and live in the right demographics you can enter into politics and have a lifelong career.

Gerry couldn't even invest or manage his own operation, why would any farmer expect him being capable of negotiating the assets or favourable dividend from the sale of the CWB be returned to the rightful stake holders (farmers).

[Old Cowzilla]

For the past 4 years we hauled canola past 3 other buyers to g3 (another 20 mins drive ) for best price and most often the only buyer at times. Spread as high as $0.50 sometimes ( $1000) a load. Guess you could say we got our dividend in advance. That shareholder statement makes good wall paper next to my lottery tickets from what I read.