"Cashflows are improving (2017 H1 normalised was positive) and restructuring and performance improvement plan complete or almost complete".............
.........still totally delusional.
The above (the implication that cash flow would be positive but for certain expenses that are non-recurring - actual cash flow is more relevant at this stage of the game) might persuade the banks not to put the group into administration. It might instead mean converting all - more likely most of - the debt into equity, eliminating existing shareholders in the process.
It's not the same as this time last year. I have no doubt the banks were furnished a year ago with a turn- around plan that supported what was eventually agreed as achievable and resulted in the revised facilities the banks granted SGH, which has failed to execute against those plans.
Again.
This is no surprise - the same people were left in charge. Silk purses and sows' ears come to mind.
What's 'plan B'? Borrow more until the $100m from WTG comes in?
all imho/dyor
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