New China contract, page-31

wow, lovely spread of delusional take out prices, all with no valuation justification whatsoever.

This would all be fine and dandy apart from the fact that Frank hasn't bid, QIN have sold next to no product and the apparently the only way they could offload their 2014 plantations was by paying investors to take them off their hands by granting them a guaranteed return through put options!

Those 'investors' also included Frank, who holds a $15.8m put option over 175ha of his plantations of that vintage, which guarantees him a 46% return.

Strange lack of discussion on here of what that means when Frank and the other $35.5m of HNW investors with guaranteed returns become due, plus what happens when QIN stop paying the institutional put owner 15%pa not to redeem their $30.48m $33.924m $36.04m option?