Ann: SGH advises Watchstone Group Plc of claim under SPA-SGH.AX, page-218

Some might say this is a desperate attempt to reclaim some of the cash it seems clear was overpaid for PSD (who was responsible for this - it wasn't fair - the vendors supposed to say: "we think you're overpaying"?). I make no comment except: "why now and not as soon as the events were discovered?"

What Mr Grech may cleverly have engineered for us here (as shareholders) by this latest move (if it does turn out that there is no substance to SGH's 'late in the day' warranty claims) is a situation where the share price isn't moved a lot by the market's perceived prospects of success, but gets slammed when the claims are rejected by the independent barrister (to whom WTG will be permitted to make representations).

There's a reasonable chance imv that this will finally result in 'curtains' for AG, whose performance throughout the negotiations and for the 6 months following (when he seems not to have been aware of what was really happening in a group of businesses he's just bet the ranch on) might finally be exposed. Maybe it was a great one - any thoughts anyone? $1bn? My understanding is that certain people within WTG are a little upset by this latest turn of events and may fight back.

Watch this space - might be fun and we could learn a fair bit about how not to do things if you're an adult in business who doesn't think he's Clark Kent. I hear there might be some good opportunities to pick up conveyancing businesses cheap in the Queensland area.

Don that cape.


all imho - dyor