Ann: Results of 2017 Annual General Meeting, page-21

While the grim reality of dilution representing your best prospect for survival is far from the only negative consideration of SGH by the market at large, you could say that the SP reflects market opinion on SGH and that the markets low opinion of this stock is inclusive of the likely acceptance of dilution of equity to save the company and that this is reflected in the SP. Hold this stock post vote and choose between your holdings reduction to 5% or zero tends to dampen enthusiasm.

Your shares are to be converted from one for every 100 you hold as I understand it and then new shares created at a volume of 19x that number and these will be given to the hedge funds in a D4E swap and the hedge funds will peel off the non-Aust business and take 100% of that. This is the dilution, until now no dilution has actually occurred, it's pending likelihood has simply played into the markets negative opinion of equity in SGH as reflected in the massive reduction in the SP.

Post dilution SH will be left with 5% of the Australian business and some debt (I don't know how much but I'm pretty sure that they are keeping some debt against you all). The hedge funds will have 95% of the Australian business, 100% of the non-Australian business, and will still be owed money by SH.