Actually, it is not a bad thing to flick through picking up the major points of interest. The full financial reports are in here, so that pads it out a bit. There is a lot of extra financial information in there. It can be seen that they financed everything, it looks like - their cashflow was not supporting their expansions.
The document details a lot of the for/against as well as high/low valuations in the scenarios. Also in there are full details on which Senior Lenders are owed what about.
I did see this one:
"3.7 Reason for the Scheme. If the Scheme (as described in Section 7) is not implemented and an alternative debt repayment solution which is supported by the Requisite Majority of Senior Lenders is not found promptly, it is expected that the Directors of the Scheme Company would appoint a voluntary administrator and the Security Trustee (Aus) (on the instructions of the Senior Lenders) would appoint a receiver (or receiver and manager) over the assets of certain of the Obligors to the extent that they have provided Security in favour of the Security Trustee (Aus). See Section 2.5 for further information."
Well, the experts have spoken (in this document) and it is clear what is going to happen.
SGH Price at posting:
6.9¢ Sentiment: None Disclosure: Not Held
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