SGH bear is dead and burried, page-8

Here is the ANN with break up from my side into points so Einsteins of the board can understand it .

28 December 2016 Market Update:

Bank Facility Amendments.

1.
Slater and Gordon Limited (ASX:SGH) yesterday reached agreement with its Lenders to make further amendments to its bank finance facilities.
(Means agreement has already been reached and it is in relation to bank finance facilities. Means no D 4 E OR ANY capital refiancnicng has been signed because maturity date is May 2018 and SGH got lot of time to do that HAHAHAH),
2.
As previously disclosed the maturity date for the Group’s facilities is May 2018, and there are a number of financial covenants and operational milestones that apply through the term of the facilities. The maturity of the Group’s facilities remains unchanged.
3.
The Company is working pro-actively and co-operatively with its Lenders to explore and manage options for the refinancing and recapitalisation of the Group.
4.
The process has commenced well ahead of the May 2018 deadline, with the objective of achieving an appropriate and successful outcome for stakeholders and a smooth process leading to that outcome.

(Now this is v v telling. The dead line is May 2018. This recapitalisation and refinancing has to be completed before that. So all those who think it is happening tomorrow or has already happened .....what R they doing.U can fill in the blanks)
5.
The Company anticipates that as the process unfolds there will be media speculation concerning its bank facility arrangements. The Company does not intend to provide a running commentary on the process it is undertaking with the co-operation and support of its Lenders and will make such appropriate further announcements as required in the ordinary course.

My summary.
Agreement has been reached. no change in maturity terms. No D 4 E of refinancing done so far.
Comapany got time till May 2018 to finalise if need be refiancing and recapitalisation.
If and when that is doen , market will be informed.