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54.5¢ slater & gordon limited

Ann: Becoming a substantial holder, page-14

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28/12/17

14:18

Post #: 29909027
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Originally posted by dswau ↑

It does need to be remembered that the new shares issued to the senior lenders are in escrow - see item 2 of schedule 2 to the variety of 'Becoming a substantial shareholder' announcements at: http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=SGH&timeframe=R&dateReleased=22/12/2017

The new shareholders are prevented from trading their shares until:

"...from 24 hours after the earlier of: the date on which the Company's half year results for the period ended 31 December 2018 are released to ASX; and 28 February 2019"

Presumably this escrow period was included to provide some sort of stability to the restructuring to avoid existing shareholders being wary of a potential dumping of shares on the market in the imminent future.

Late February 2019 however will be an interesting time I imagine.

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They can do a cross trade off market with agreement

SGH Price at posting: $3.35 Sentiment: Buy Disclosure: Held
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