Don't be fooled

Key takeaways:
Bad news:
Billion dollar loss for the 6 months ending 31 Dec 2015
Key line: The Company has agreed to deliver an operating plan and restructure proposal to the banking syndicate and its financial advisers in March 2016. Facility maturity may be shortened to no earlier than 31 March 2017 if no agreement is reached.
This is horrible news, this is disclosure that if SGH can't satisfy banks, the banks will be calling in debt!!!
Good news:
Increase in headroom by 20million (not going to last long)
ASIC did discountinue enquiries (but with the billion dollar write off and loss, damage is done already)