Ann: Market Update Amendment to Syndicated Facility Agreement, page-221

Stay grounded please.

You cannot compare a quality company such as SGH with others.

This were the actual announcements:

17 March 2017 Market Update: Update on Capital Structure Slater and Gordon (ASX:SGH, the "Company") updates the market in relation to recent confidential discussions with its Lenders regarding the stabilisation of its capital structure, as previously disclosed on 28 December 2016 and 16 February 2017. The Company notes recent media speculation regarding trading in its debt. The Company has recently been notified that in excess of 94% of its debt facility has traded from its original syndicate of par lenders to secondary debt buyers (the “New Senior Lenders”). The Company has been informed by the New Senior Lenders that they fully intend to implement a solvent restructure of the Company (‘Restructure’) and to work cooperatively with the Company to enter into binding agreements to reset its debt structure to ensure that the company has a sustainable level of debt and a stable platform for its future operations both in Australia and the UK. The Company and New Senior Lenders believe a Restructure by a debt for equity Lender Scheme of Arrangement is in the best interests of all stakeholders. The Company is continuing its confidential discussions with the New Senior Lenders regarding the Restructure and anticipates that a further update will be provided in the coming weeks. ENDS

31 March 2017 Market Update: Amendment to Syndicated Facility Agreement Further to the update provided on 17 March 2017, Slater and Gordon (ASX:SGH, the "Company") updates the market in relation to further discussions with its newly comprised senior lenders (“New Senior Lenders”) regarding its financing facilities and the stabilisation of its capital structure.

Following those discussions with the Company the New Senior Lenders have unanimously agreed to make further amendments to the Company’s Syndicated Facility Agreement. This amendment agreement was executed earlier today. These amendments include capitalisation of $32m of interest payments otherwise due for payment on 28 June 2017 and consent for the Company to incur new super senior debt of up to $40m from one or more of the New Senior Lenders (“New Facility”). The key terms of the New Facility have yet to be fully developed by the New Senior Lenders and accordingly it remains subject to credit approval and documentation.

The purpose of the New Facility will be to provide the Company with the working capital headroom required to continue to execute its plan to restore its financial performance. This provides the Company with confidence that its current discussions with the New Senior Lenders will result in the provision of the ongoing support required for the Company to execute its plan to restore financial and operating stability.

The support of the New Senior Lenders continues to be fundamental, as current levels of bank debt exceed total enterprise value. The New Senior Lenders have also endorsed the Company completing a share buy back to wind up a legacy employee ownership plan (EOP). The EOP was introduced in 2007 and the last allocation to employees was made in 2012. Staggered vesting based on performance hurdles and sale restrictions applied over a six year period from allocation. The buy back price set in accordance with the terms of the EOP will be applied against outstanding EOP loan amounts. The cash impact of the buy back is less than $250,000. No Key Management Personnel will benefit from the buy back. Following the buy back the EOP will be discontinued as it has ceased to fulfill its intended purpose. The Company expects that discussions with the New Senior Lenders will be successfully concluded in the next few weeks, at which time a further announcement to the market will be made. ENDS

Clearly the restructure will be in the best interest of ALL stakeholders.

If not it will be voted down. Simple.

With a share price of $8+ less than two years ago that may be what the aim is again?

Are you working for the shorters Steve?

Or are you a competing lawyer?

Let's be honest and move forward.

My shares are not for sale