Ann: Half Yearly Report and Accounts, page-234

"For SGH to be taken private I believe AC et al. will offer a premium to SP for ordinary SH vote OR get a court order for mandatory acquisition at fair value thereby owning 100% of company. SH will be paid at least fair market value at the time in any case."

Except it won't be fair. If real fair value is $15 or $20 they'll pay out much less than that even though $20 won't cover many people's losses.

They've already softened SH up by saying it's worth $1 or less. That would make $5 "fair value" ( ie 5c before they divided the number of shares by 100) look generous.

AC et al can let the company tick over at a low level then make a miraculous comeback after 100% shafting the SH.

If they had wanted to not totally screw the shareholders they would have diluted to 85% rather than 96% allowing us to exit with an ounce of grace. May they rot in a hot place. I'm not sure why they didn't just liquidate ...

Of course if they handed over $30 per share I'd be over the moon and I don't think anyone would complain.

If they do go for maximum SH destruction maybe the pollies should legislate to keep hedge funds out of the Australian share market.