Sorry guys, this was an even worse announcement than I expected. To me it seems clear that the banks were not impressed with SGH's proposal, and are now back to the drawing board. They're after blood, no doubt about it. AG doesn't want to propose a massive dilution as it would significantly reduce his own wealth, but its what the banks are looking for *AT THE LEAST*. For all those looking for AG to suffer, this is about as bad as it gets without also being told to go to jail.
SGH Price at posting:
21.0¢ Sentiment: None Disclosure: Not Held
