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researchandwin

932 Posts.

21/04/16

13:20

Post #: 17567037
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Originally posted by lakota6 ↑

Agree , if loans are called at 31/3/17 SGH can not survive. I do disagree with you on current loan terms , and imo they are likely to remain as is unless called in as discussed. If the loan terms were altered in the amendments to SFA it would have had to been reported in H1 results and if after H1 results via an announcement as to inform the market. This did not happen therefore the loan repayment time frame remains 2018/2020 imo. As Grant indicated in one of his posts an increase in interest rate occurred for increased risk and breaching bank covenants due to write down.

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"As at 31 December 2015 the Group remained in compliance with its financial covenants and continues to work co-operatively with its banking syndicate to amend the facilities" = Current loan terms out the window.

SGH Price at posting: 27.0¢ Sentiment: Sell Disclosure: Not Held
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