TIMMS CHO seems to be a small private partnership between Terrance Henry Charles Timms who is a Director of SOI and Michael Cho. (they have no website that I can find either which is why I reckon they must be very small)
Michael Cho lists himself on the linkedin website as having attended La Trobe Uni in Melbourne btween 1977 and 1989. He appears to be a capital markets guy. The site says he is Melbourne based.
Whilst Terrance Timms is Chairman of Timms Cho, Michael Cho is listed as CEO.
TIMMS Cho operate via a fully owned subsidiary called New Energy Asia Limited and this appears to be the Hong Kong based entity that has the rights to go do business with China on behalf of Timms Cho. The business connections in China probably come via Michael Cho.
One thing that makes it hard to assess is that whilst the original deal was stated by the company as being between Timms Cho via their subsidiary in China and "Chinese Authorities" we can't ascertain exactly who the other party to the contract really is.
With a 20% stake in SOI as well it appears that Terrance Timms is the commercial mind behind the float and the deal making which leaves the ex real estate guy, Callianotis to probably manage the agency relationships / product presentations . sales & marketing etc although I am guessing here.
It could be that Michael Cho roles is also accessing chinese capital to fund Timms Cho's operations / payments to SOI based on his profile on this linkedin website.
According to SOI under the terms of the licence agreement, Timms Cho Group Limited is required to ensure the planting of the 400,000 hectares over first 4 years of the agreement actually happens. This implies that they are responsible for actually making the project happen.
We do know that it is the Timms Cho subsidiary New Energy Asia (Jiangxi) Limited’s that is party to the contract with the customer though so unless this entity performs no function apart from perhaps a tax planning one then maybe they actually fulfil an operational role in structure via managing the operations in Southern China.
I'd expect that the way this whole thing has been structured would be tax driven though and most likely for the advantage of Timms Cho.
Terrance Timms background bio states he is an ex operations VP of Mincom and also that he has a mining background with BHP, RIO and Western Mining.
I hope the company reveals more detail though and then we can stop trying to play detective.
cheers
SOI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
