You also don't capitalise $32M in interest payments if you think that the Company is profitable, paying its way and able to pay the interest back /as it is incurred.
Key dates:
* 26/5 - SGH defence to MB CA.
* 26/5 - SGH to file crossclaims against its auditors, lawyers and other advisers.
* 26/5 - SFA requires the recapitalisation to have been agreed to. Despite the secondary debt holders, nothing has changed, the SFA is still in force, and time is ticking down.
* 27/5 - The bulk of the SFA facility amounts move from non-current to current (<12 months).
* 27/5 - Risk of the 14 day countdown under the SFA if the recapitalisation has not yet been agreed to. This risk remains until the SFA is replaced by something else.
* Before end May - file claim against Watchstone.
* Before end May - production of documents required.
* 2/6 - MB CA Directions Hearing.
* 28/6 - Capitalised interest occurs. Otherwise, this is the revise dinteerst due date.
* 30/6 - Financial Year end.
* 1/8 - $20M capital repayment required (first off the rank under the SFA - refer H17 report).
* Before end August - Financial results released.
SGH Price at posting:
9.3¢ Sentiment: Sell Disclosure: Not Held
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