According to both AFR and MF articles, banks have asked the company to reduce debt and not eliminate the debt. MF suggests that is about $100 million at 50 cents. That is 200 million shares. Some may wonder why banks will by paying a premium. It is because they know that once bank says " Yes", SGH will be trading above $1 mark. They can make big gains within short period of time. By the way, considering the dire situation we had, I do not mind having 200 million more shares. If goes well, Slater and Gordon again will be a profit making, dividend paying stable company with Westpac as their largest shareholder. Not a bad outcome. Enough for today. more later.
SGH Price at posting:
27.5¢ Sentiment: Buy Disclosure: Held
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