D4E takes place which sees the banks take over basically all listed equity in the company.
Proceeds from D4E is used to repay part of the debt but not all... this means any proceeds from possible asset sales will still go straight to repaying personal debt.
Once gearing is reduced, banks wanted the company to remain listed so they can sell the equity back to punters at a higher price. Not only have they benefited from getting part of their debt repaid, they now benefit from selling equity back at a higher price that wouldn't have been possible if not for the D4E meaning their support would continue. They wouldn't commit to the D4E unless it resulted in them having the complete equity value for future benefit.
SGH Price at posting:
10.5¢ Sentiment: Sell Disclosure: Not Held
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