Can past holders sue ASIC, page-31

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croasian

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27/03/17

16:50

Post #: 23655681
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Originally posted by Ausbert ↑

Recent Events
1. Everyone was expecting banks to pull the plug by 17 March, and many holders panicked and exited at around 7 cents.
2. The D-Day passed without any incident because banks sold debt to discounted debt holders, who seem happy to give the company a better deal.
3. ASIC, that had been investigating the company accounts for months has concluded that the company has not done any fraudulent activities in its accounting books.
4. Market responded to all these new developments favourably and the share price has risen by almost 100% from its bottom within weeks and traded more than 130 million shares in the last six days alone.

What to expect next
1. D4E outcome with much better terms for the company and its existing shareholders. This is entirely possible because real cost of the debt to new senior lenders is only about $200 million as opposed to $730 million for the original debt holders.
2. Escrow money of $80 million. This is a real possibility because the business that SGH acquired was worthless and it had to write off the entire value of the acquisition within a year. Previous UK owners are being investigated for cooking books. I do not think the judge will have any difficulty in making his/her judgement in this case. Considering current MC is only of $44 million, a favourable escrow decision alone will triple current MC of the company.
3. High profile VW settlement is very likely in the near future. We know that the USA, and Belgium car owners have already received compensation amount to $billions ( $15 billion in the US alone), but the UK car owners have not. It is reported that the UK government is going to put more pressure on VW because more than 45000 UK car owners have already signed up for the CA at the moment.

As a current shareholder I am very excited about the future of SGH and as you can see I have really good reasons for that.

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Your reason is that the new debtholders seem "happy to give the company a better deal".
Where did they say that, I must have missed the announcement?

SGH Price at posting: 13.0¢ Sentiment: Sell Disclosure: Not Held
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Can past holders sue ASIC, page-31

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