RBC

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Looking good for Arborgen. No wonder the execs want to be paid in stock. But I don't know why the research needs to be done in the US when the founding IP of Arborgen was developed in NZ.

 

 

http://www.ecoseed.org/en/general-green-ne...-biofuel-source

 

"Although market forces will ultimately determine the end value of tree biomass, understanding the role of the tree as a feedstock for cellulosic biofuels is a key part of the necessary research that must be done in the United States," said Barbara Wells, president and chief executive of ArborGen.

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Citigroup are advisors to these people which includes the renown Hugh Flecther.

 

I think we are about to get "another" lesson on why one should never go near a company with either of them involved.

 

GENERAL: RBC: Rubicon to Undertake Capital Raising Initiative 24 February 2010: Rubicon Limited (RBC) announced today that it has requested NZX to place a trading halt on its shares while RBC is finalising a capital raising initiative, which it expects will involve an accelerated, pro-rata entitlement offer to its shareholders. The trading halt is required to provide certainty as to entitlements during the accelerated component of the proposed offer.

 

NZX Regulation has advised RBC that it will grant the requested trading halt. RBC has requested the trading halt remain in place for two business days from the commencement of trading on Wednesday 24 February 2010 until the recommencement of trading on Friday 26 February 2010, at which point RBC would expect to make an announcement to the market of the finalised terms of the capital raising.

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Perhaps it is something to do with Arborgen. RBC were one third partners in that venture but now according to this they don't even rate a mention....perhaps because they are no longer a partner.

 

http://www.canadianbusiness.com/technology...301_10016_10016

 

 

Could tinkering with the genes of trees rescue AmericaÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s forestry sector? South CarolinaÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s ArborGen LLC ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ a biotech joint-venture between U.S. forestry giants International Paper and MeadWestvaco ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ wants to find out. It hopes to introduce swaths of genetically engineered eucalyptus trees in the southeastern United States. If it succeeds, it could do for forestry what Monsanto did to agriculture.

 

Eucalyptus is native almost exclusively to Australia, but has been widely cultivated elsewhere, notably Brazil. Owing to the rapid, dense growth and the considerable size of certain eucalyptus species, the hardwood has enjoyed commercial success and now dominates the tropical timber industry. But it typically thrives only in tropical or subtropical climes ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ frost is its bane. So ArborGen has introduced a genetic trait to help the tree withstand mild freezing conditions as far north as the Carolinas. The company hopes it will prove a substitute for native pine, allowing for higher yields and quicker rotations. Proposed uses include saw timber and biofuels.

 

Detractors fear eucalyptus may become an invasive species, as it has in South Africa. ArborGen has therefore introduced another trait it hopes will neuter the tree by inhibiting pollen production.

 

The companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s experimentation has been limited to date, but the U.S. Department of Agriculture is now considering whether ArborGen should be allowed to perform a much broader ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“controlled field releaseÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ in which cloned plants will be allowed to flower. Either way, the species is unlikely to provide any relief to CanadaÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s forestry sector ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ cultivators will have enough trouble keeping it alive in Florida.

 

 

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They're gearing up for something on the ag. front.

 

ArborGen Welcomes Greg Mann as General Manager Australasia Operations

 

Posted by Editor Sunday, 14 March 2010

 

ArborGen, a world leading tree improvement and production company, announces that Greg Mann will join the organization on April 6 as general manager of ArborGen Australasia. In this role, Mann will oversee ArborGen New Zealand and Australia operations.

 

 

Mann comes to ArborGen with more than 15 years of business and science experience. Most recently he was the commercial general manager at The New Zealand Institute for Plant & Food Research Limited, a New Zealand science company specializing in elite cultivar development, sustainable production systems and bioprotection. In this role, he led the team responsible for the commercialization of technology and intellectual property. Prior to that he held national sales manager and general manager positions at Southward Engineering Company Limited, New Zealand's largest manufacturer of tubular steel products and a major supplier of components for the Australasian automotive industry. Mann began his career in sales management with the specialty chemicals company W.R. Grace Limited in Auckland, New Zealand.

 

 

"Greg is a tremendous addition to the ArborGen team as he brings a wealth of experience in the development and commercialization of very technical products," says Barbara Wells, president and chief executive officer of ArborGen. "Greg will be a member of the ArborGen executive team and will oversee our Australasian research and development, commercial production, and sales and marketing programs, providing forest landowners access to the rich and broad portfolio of ArborGen superior Radiata Pine and Eucalyptus products."

 

 

Mann has a bachelor of science (honors) degree from Victoria University, Wellington.

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RBC to be bought out shortly by the other partners in ArborGen. Must be why they have just dropped of the radar in all the latest media releases. Is only the American interests that get a mention now.

 

RBC was only ever set up as jobs for the boys after the Fletcher Challenge empire got dismantled and they got bumped sideways. It took a rag tag bunch of assets that were left over, fitted none of the other business units but had intrinsic value.

 

There is only 20% of the registery available on the retail end.

 

I guess all we can do is speculate at what the deal might look like.

 

Considering these guys are the same guys who took Capstone to the NASDAQ about ten years ago I will guess the structure will be much the same. ArborGEN to list on the NASDAQ, RBC taken out in exchange for equity in ArborGen, pro-rata distribution to all shareholders. Then watch it fly.

 

It is worth noting Capstone reached a peak of US$10bn. What price ArborGen? Much more I would expect.

 

Pity the G bought in the cap-gains tax on all companies registered outside NZ and Au. Can expect to get pinged on that one.

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There is only 20% of the registery available on the retail end.

 

Not entirely correct. 20% not accounted for in the listed shareholders at the Companies Office. I assume it is the retail end but in actual fact I am probably wrong. I expect the real figure is much less with the bulk of that 20% being held by different institutions or funds.

 

Noteworthy are the three largest shareholders. ACC (NZ govt agent), ANZ and Citigroup.

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Big volume going through now on this. Takeover must be imminent. That or Arborgen is to be listed in the US.

 

Makes TEN good buying too.

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Last time these same guys took a company to the NASDAQ it peaked at US$10bn. People made a fortune. Hence the reason why these guys gave up their salaries in exchange for equity.

 

 

ArborGen Inc. Announces Proposed Initial Public Offering SUMMERVILLE, SC - October 1, 2010 - ArborGen Inc., the world's leading developer of biotechnology tree seedling products and one of the largest providers of conventional and technology-enhanced seedlings to the global commercial forestry industry, announced today that it has filed a registration statement with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined. Goldman, Sachs & Co. and Citi will act as joint book-runners for the proposed offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale will be made only by means of a written prospectus forming part of the effective registration statement. When available, a preliminary prospectus relating to the proposed offering may be obtained from either: Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, or email: prospectus-ny@ny.email.gs.com; or Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor Brooklyn, NY 11220, telephone: 800-831-9146, or email: batprospectusdept@citi.com.

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Rubicon's fate is no longer its own it would seem. The SSH notice yesterday says it now rests with Sandell Asset Management. Taken out of the hands of Citibank by Castlerigg to be vested with Sandell for the most part.

 

The lesser part to be sold by Castelrigg Master Investments Ltd to Castlerigg Merger Arbitrage Master Ltd.

 

Hot on the heels of the ArborGen IPO announcement too.

 

It appears to me Rubicon's life expectancy is short. TEN as well.

 

 

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Goldman Sachs and Citi acting as underwriters in the Arborgen float. Some very interesting tid-bits of info in there. For some sort of idea on valuation it pays to read the prospectus of GEN. Arborgen was founded on their IP and used them for contract research before things went pear shaped. Ultimately things were resolved in deeds of agreement entitled the Arborgen and Watson deeds but were never revealed in detail. My guess is one of them was a licencing agreement.

 

But as it stands the only way in to Arborgen is through RBC and at these prices, especially when you do the sums these prices are as cheap as chips. No wonder management wanted stock before salary.

 

http://sec.gov/Archives/edgar/data/1497288...2774a1sv1za.htm