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54.5¢ slater & gordon limited

SGH sell UK asset, page-14

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ZLHill

596 Posts.

17

26/01/17

17:05

Post #: 22154996
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Originally posted by Dr.Who ↑

ZLHill, in my view you are mistaken. The UK is where S&G growth will come, it is already 75% of the company, withdraw and it is destined to wallow in a quagmire.

Agree debt has to reduce to gearing of 40% = approx. equity $750m and debt approx. $300m. There is value embedded in the balance sheet (+ off balance sheet) to partially achieve that in 15 months then supplement operational CF with a minor equity injection, say $200m and it will fly - from current level; allowing for volatility and market vagaries around the time of explaining capital structure.

You have done well getting in at 22c in my opinion.

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I am new to SGH. Are you saying UK actually ear money? I was surprised that SGH only 26C. It's under value...

SGH Price at posting: 26.5¢ Sentiment: Hold Disclosure: Held
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