Ann: FY2019 Preliminary Financial Report and Appendix 4E, page-7

I've never been a holder of SDA so I won't post much after this. I provided my views on these threads a couple of months back after looking at their reports.

I'm not saying it's the only option but you may want to look at what happened with SGH. I believe the original holders of the SGH debt sold it to Anchorage for a fraction of the value. Anchorage then restructured and presumably made a decent profit but I believe the original shareholders were massively diluted in the process.

For holders voting on the arrangement it sort of came down to do you want a little bit or nothing at all.

Good luck and best wishes.