Ann: Recapitalisation Agreement, page-187

I believe AG got done over by some of his own crew (kickbacks perhaps ) as regards Quindell and probably did his best to save himself the company including the shareholders . Realize he was the captain of Good ship Slaters so whatever happens he's responsible for . The months and months of constant bad press had a lot to do with the hedge funds I believe , hard to imagine they were not well and truly involved long before they made their real intentions known to eventually own SGH and use the shareholders to help pay down the massive debt then chuck them overboard when it suited them by means of an unfair dilution . Pretty obvious the dilution would devastate share holder value just thought they might announce dilution closer to the half year result report . AG had a lot of his own money not just the generous share options directors give themselves . The press went awfully quiet after the hedge funds bought the debt , weird after all that constant daily SGH bashing months on end then almost nothing for some time leading up to this . Well it seemed to work out pretty well for the US hedge funds I must say good to having friends in the right places , shareholders screwed once again . Without prejudice my opinion only .