SGH (ASX) Ann: Recapitalisation and AGM

Originally posted by walkingeagle ↑

"

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

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The only problem with above is likening SGH to a proverbial rat.

SWC will now be out all night rounding up rats in the hope they are also worth billions based on a DCF of future earnings (as scholars know all to well)

Incidentally, to show how little he knows and why it's clear he is still a uni student he doesn't realise that it's rare to find a scholar who has made a lot of money in real life.

The saddest thing of all of this is the actual size of SWC's holding. I would bet a sack full of rats his losses are no more than 20k.