Australia's largest stock trading and investment forum Australia's #1 stock forum

SGH

Click for more information

0.00%

54.5¢ slater & gordon limited

Ann: Recapitalisation and AGM, page-105

First 105 Last

Share
Profile

Follow
walkingeagle

840 Posts.

4

06/12/17

09:31

Post #: 29406458
Share

Originally posted by Successwillcome ↑

Tomorrow is D day for holders in my opinion.

1. We can go for the known and vote yes meaning that 100% of our SGH UK arm and 95% of our SGH Australia arm is gone to the American lenders (subject to court approval).

Even a yes vote will not guarantee that we get anything for our shares in the end.

2. We can also go for the unknown and vote NO and keep (for now) 100% of our UK and Australian arms but with what appears to be unsustainable debt attached to us. One reason to vote NO could be that we could hope for the American lenders to give us a better deal or they could perhaps sell their debt to someone else more reasonable. The American lenders could also attempt to put SGH into administration or liquidation although that could lead to some problems for them such as for example our service contracts with our clients that may be deemed void (not certain about this) and the Regulators could move in to protect our clients (not certain about this). Several other things could happen after a NO vote. Fact is that we don't know what will happen if we vote NO.

So a NO vote will certainly not guarantee that we would get anything for our shares in the end either.

My reason for voting AGAINST the American lenders and AGAINST the SGH directors is because I do not believe they have been transparent with us in relation to for example how SGH is going today cash flow wise.

Is that because SGH is now going well and the American lenders don't want us to know before the vote?

It certainly would harm the yes votes significantly if we knew SGH was going well. Fact is that the lenders themselves have written in their explanatory notes that SGH is not expected to need more cash injections.

One must ask the question why do the American lenders want to take over all of SGH all of a sudden?

Also they were not transparent with our lawsuit of WTG for $1billion in their explanatory notes.

The above raises serious questions about transparency in my opinion.

All in my opinion.

Do your own research.

We all vote the way we find is best. We all have different circumstances, risk profiles and thoughts.

Good luck to all shareholders regardless of voting yes or NO. Also good luck to the hard working SGH employees who deserves the best possible company to work in.

SWC

Expand

"
My reason for voting AGAINST the American lenders and AGAINST the SGH directors is because I do not believe they have been transparent with us in relation to for example how SGH is going today cash flow wise"........

...........your reasoning might be compared to that of the captain of the Titanic asking over the tannoy as the ship lists violently to port, seconds before beginning its 12,500 ft descent to its final watery grave: "can anyone tell me if the deckchairs are lined up straight?".

All you need to know is that Slater & Gordon is as bust as the proverbial rat. How much cash it is or isn't presently making, or might make in the future doesn't make an ounce of difference to anything because the company you own shares in can't pay its debts NOW. The shares you hold are worth nothing - this has been independently confirmed - the proviso being that if shareholders accept the proposals that have been tabled, they might be worth a smidgeon. When you and others owned the company it failed - utterly and completely. All value was wiped out. What is it about this you don't understand?

The damage you have managed to cause to many will at least now stop - the die is cast. I wish everyone except you the best possible outcome.

Well over 1000 posts - none well-founded - as you confidently predicted outcomes that could never be achieved. All the time steadfastly refusing, despite countless requests to do so, to state what qualifies you to make the statements you have done, all of which have been wrong. Calling people like me (retired partner in a leading accounting firm) and others with very credible backgrounds who have truthfully declared what they do or did for a living: "apprentices", "puppets", "losers" and many other insulting terms, when it is clear from the composition of our posts and their content that we are experienced professionals who have views we want to share for the benefit of others.

I trust when the vote is 'yes please" you will do everyone a favour and disappear for good.

jmofwiw

SGH Price at posting: 3.8¢ Sentiment: None Disclosure: Not Held
10 Upvote

0 Great analysis

Reply

Top Stories

NWC

New World Resources inks complete PFS for Antler Copper Project in Arizona, USA

ATH

Trial for Alterity's neurodegenerative drug ATH434 shows reduced disability

CTT

Cettire shares jump on FY24 revenue growth up 80% vs pcp – but stock still badly bruised

AI stocks: What to expect in 2024-25

LRL

Labyrinth shares rocket by 219% on news of Comet Vale and Vivien gold project acquisitions

There are more pages in this discussion • 1 more message in this thread...

First 105 Last

Add SGH (ASX) to my watchlist