I have appreciated all your posts and your optimism throughout. I have registered for the class action today. What I do not understand is the seeming arrogance of these people. There was little consideration shown for the LT SH's. The layman's question is , what is the immediate future? Will the banks want their money back in 2017? Do they have enough cashflow to pay all their outgoings? What about staff morale?
Can it be successfully broken up? What will be the effect of the class action(s) on th e bottom line?
I still consider that both the chairman and the ceo should be removed. No one is indispensable and nobody has confidence in them any more. They need someone now with a different set of skills , somebody who can extract the company from the horrible mess they are now in.
One slender ray of hope. There cannot be any more bad news surely and in this mood hopefully they have taken the largest writedown they could. The banks will hold on while there is a slim hope of recovering their money
SGH Price at posting:
38.5¢ Sentiment: None Disclosure: Held