Doug
Stuff up is absolutely not proven.
It is possible that we wake up soon to discover:
1. ASIC slap on wrist
2. SGS clearly generating profits and growing
3. SGH is generating net cash
4. Ins companies have had to come off the fence on HL case processing and agreed protocols and NIHL case portfolio is shrinking fast and generating material net cash
5. SGH OZ and UK , after 2016 WIP write downs have shrunk activity by 10% , and on theor own are clearly generating $60M cash pa.
6. debt below $500 m seems likely by this time next year and $400m in 2 years
7. SGH announce plan to place $100M of 2020 dated 10% convertibles and create a new class of shares ......with a broad expectation that net indebtedness ( excluding new convertibles) is headed below $325M in 2 years.
8. Alltogether it isn't exactly rocket stuff , but does point to measured Turnaround and a divy return for on 2 year horizon.
9. Then there is the Escrow money ......no idea but you never know.
..........or not.
Mel
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'Slater's ugly exit clause', page-64
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