It may be pride - but most likely naivety. Do 2 minutes of google searching - UK wide NIHL resolutions are approximately 10K cases per annum. SGH has what, 10% market share?
Insurers are also quoted saying that most of the time, 90% of the costs relating to NIHL is legal expenses (e.g. internal legal expenses), and small settlements to claimants.
Yet Grech still thinks he can settle even 20% of 50K extremely low quality cases? LOL... It is like saying, historically the incidence rate of cancer is 1%, but this year we think it will be 5%, because we are good lawyers and can prove it for you. You don't need to be a CEO to conclude that this is 100% idiotic
I wrote to investor relations explaining this before - got no reply. I would have loved to go to the AGM to express my disgust on this matter, but I am based in London.
I hold this stock on the basis that one day SGH will dump this NIHL b.s. and continue with their profitable work
Watchstone will get $0 from the NIHL resolutions. zip. nada. Well that's not true, they may get a lawsuit
SGH Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
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