Yes - tough day for holders...
I did run some numbers here:
https://hotcopper.com.au/posts/25562340/single
It works out as roughly $800M in debt exchanged for 95-96% of equity or effectively around $0.09 per share.
They have also effectively ring-fenced any Watchstone proceeds (at least the first £250M of them).
You can always choose to vote against it, but the choice will be between getting 5% and 0% - debt holders will just push it into VA - they will win either way.
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Last
$50.62 |
Change
-0.100(0.20%) |
Mkt cap ! $20.46B | |||
| Open | High | Low | Value | Volume |
| $50.53 | $50.78 | $50.10 | $1.153M | 22.84K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 20 | $50.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $50.65 | 96 | 3 |
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| Last trade - 11.26am 16/07/2025 (20 minute delay) ? |
| SGH (ASX) Chart |