SGR

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Ann: Pause in Trading, page-104

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noomxx

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1110

19/02/24

21:35

Post #: 72490686
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Originally posted by Tren1: ↑

So Syd is leasehold

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Originally posted by Oldbloke: ↑

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Originally posted by volf: ↑

It is easy to serve a breach notice on a commercial tenant but it is not easy to actually terminate the lease and evict them.

However, if they did, the lease does not require the landlord to reimburse the tenant for any improvements. In fact, the tenant must remove all their improvements and leave the government with vacant land at the end of the lease, no matter whether it is 2093 when the lease expires or if the lease is terminated early for breach.

The government would unlikely do this of course but it just means SGR has very little leverage because if the government wants, they are within their legal rights to.

Expand

Originally posted by volf: ↑

To be specific.

SGR does not own the underlying property.

They lease the land from a government entity.

SGR has breached a number of terms of the lease by allowing illegal and unlawful conduct to occur on the premises and not complying with statutes and regulations. The landlord, being the government, could issue a breach notice to the lessee SGR and attempt to evict them.

So SGR could not play hardball in this way.

Expand

Originally posted by Tren1: ↑

does tseg actually own full rights to the land and property on top?

government can’t force a sale can they?

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Some great hotcopper scuttlebut investigations going on here.
Maybe that's why the market ignored the value of 'property' in the balance sheet.

Anyway well done to the above posters and thanks.

SGR Price at posting: 56.0¢ Sentiment: None Disclosure: Not Held
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Last 27.0¢		Change 0.010(3.85%)		Mkt cap ! $774.5M

Open	High	Low	Value	Volume
26.5¢	27.5¢	26.0¢	$4.172M	15.58M

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No.	Vol.	Price($)
4	218000	26.5¢

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Price($)	Vol.	No.
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No.	Vol.	Price($)
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48	1975137	0.260
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48	1537442	0.245

Price($)	Vol.	No.
0.270	342654	3
0.275	1303049	16
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0.285	1360331	16
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