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Sino-Forest Corp Message Board

  • roosting_vulture roosting_vulture Jul 6, 2011 9:22 AM Flag

    PR text

    6 July 2011
    To : All Investors and Analysts
    Dear Investors and Analysts:
    On behalf of the management team of Sino-Forest Corporation (“Sino-Forest’), we are writing to inform you that we are postponing the analyst trip that was previously proposed for mid-July.
    When we first proposed the analyst trip on June 6, following the unfounded allegations made by Muddy Waters, LLC, our aim was to showcase Sino-Forest’s forestry assets and business partners to the sell-side and buy-side analysts who follow the company. However, following management’s recent conversations with the analyst community who cover Sino-Forest, it has become apparent that many of you have been precluded from resuming coverage of the company and otherwise discussing its affairs publicly until after the Independent Committee reports on the unfounded allegations made by Muddy Waters, LLC.
    Similarly, the Board of Directors and management believe it is appropriate to wait for the Independent Committee to report before commenting further on the issues under consideration by the Committee. In the meantime, management’s overriding priorities are to maintain the operations of the business and to support the work of the Independent Committee and its advisors, and to provide them with the information and access that they require, to ensure that they can complete their work as quickly as possible. We have been advised that, as previously announced, it is likely that the Committee will require at least two to three months to complete its work.
    We look forward to rescheduling this trip and providing you with an opportunity to speak with management, customers, suppliers and forestry bureaus and to answer any questions that you may have at that time.
    Should you have any questions related to the postponement of the analyst trip, please do not hesitate to call either of us. We do apologize for this change of plans and hope you understand the circumstances that required this change.
    Yours sincerely,
    Allen Chan Dave Horsley
    Chairman and CEO Senior Vice President and CFO

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