Ann: SGH Successfully Agrees Bank Facility Amendments-SGH.AX, page-173

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BarrenBuffett

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02/05/16

13:55

Post #: 17652648
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Originally posted by tim8wilson ↑

Hi Arpit95,

Assume you mean this article:
http://www.copyright link/brand/cha...ks-with-amended-debt-facility-20160502-gojuy9

This part of the article is either intentionally misleading or shows a lack of understanding of the current state of affairs:
"To get an idea of the task facing Grech and his management team it is worth noting that since it was listed Slater & Gordon's net operating cash flow over the past five years has totalled $164 million.
Even if Slater & Gordon achieves the highest annual cash flow of $54 million achieved in 2014, it will still be $380 million short of repaying its first tranche of debt in May 2018."

Given the size of last year's aquisition, the business over those past 5 years is simply not comparable to the current business. It makes the AFR's comparison entirely useless. Surely they realise this.

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I need to read up a bit more on the Quindell acquisition and how much money it is likely to bring it in the year to understand better the debt situation. Anyone kind enough to share any posts in which some analysis has been already done - saves me reinventing the wheel again.

I waswaiting for significant risk to pass before jumping in - looks like it has happened so I bought in. Happy to take the ride now - missed out on the 85% jump in the morning but feel much more comfortable now

SGH Price at posting: 57.5¢ Sentiment: Buy Disclosure: Held
4 Upvote

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Ann: SGH Successfully Agrees Bank Facility Amendments-SGH.AX, page-173

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