Mighty their risk profile has gone up significantly.
The market has questioned the value of WIP, they have questioned the value of the UK acquisition, now we know there is possible legislative changes in the UK which could have a significant impact on the value of SGS and FY17 EBITDA, market cap has plummeted and SGH will not disclose their debt covenants.
To top it off they have a shit investor relations dept and they seem to be treating the market as mugs.
All talk now is about their debt position. They must disclose their debt covenants to the market so we can understand them and make an informed decision re future potential and the risk of default.
This business is now in stress.
Next move will be impairment of the UK acquisition and a capital raise!
SGH Price at posting:
69.0¢ Sentiment: None Disclosure: Held
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