Nobody knows how the market will react. I'm going with the belief that FY16 result is now irrelevant; the SP is not factoring in anything other than a wealth destroying capital raise or lenders taking some action detrimental to the business.
If the lenders unequivocally support the strategy and that is clearly stated from a credible source then the first half can be negative with a full year guidance less than half or less of what previously stated and I still feel the SP would rise substantially - albeit extreme volatility. I don't disagree with GC guess that there could be an initial reaction before the market settles and realises that its the future that counts not FY16.
The very simple reason is lenders support = belief in the company producing a minimum of $1000m cash over the next five years and by definition sustainable thereafter.
SGH Price at posting:
68.5¢ Sentiment: Buy Disclosure: Held
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