Ann: SGH advises Watchstone Group Plc of claim under SPA-SGH.AX, page-216

First 216 Last

Share
Profile

Follow
Krispytech

4,431 Posts.

20/09/16

08:13

Post #: 19270157
Share

Originally posted by SilentPartnr ↑

I don't know what was in the Warranties but reading Note 9.3.2 of SGH's financial statements (released 3 weeks ago) you could say there was plenty there to be considered as a claim against the warranty including:

"The initial accounting for the acquisition of SGS had previously been provisionally determined. The necessary fair valuation of consideration and net assets acquired has now been finalised and is reflected in the amounts detailed above. The respective changes to reported provision fair value of net assets acquired are:
• $31.4m reduction in the fair value of work in progress;
• $93.5m decrease in the fair value of trade and other receivables and other assets; ...."

and

wrt to "accounts" :

"On 5 August 2015, Quindell Plc, the vendor of SGS, published qualified financial statements in which the current directors and auditors of Quindell Plc explained, inter alia, that relevant information relating to transactions entered into by the former directors that could impact on the accounting, intention, commercial purpose or value of certain transactions was not available to them.

On 5 August 2015 the Serious Fraud Office in the United Kingdom advised that it had opened a criminal investigation into the business and accounting practices of Quindell Plc. "

If there was a chance of a claim against the warranty, SGH would be negligent not to have pursued it given what has transpired.

Regards

SP

Expand

WOW.
That is a truckload of solid reasons to expect a payout on the claim to SGH

SGH Price at posting: 40.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

ASX hits all time high out the gate on Friday trades following bullish US inflation data

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

SKS

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Bitcoin investors need to know the risks

BHP

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

There are more pages in this discussion • 170 more messages in this thread...

First 216 Last

Add SGH (ASX) to my watchlist

Ann: SGH advises Watchstone Group Plc of claim under SPA-SGH.AX, page-216

Top Stories

Immutep reports strong response rate from immunotherapies treating carcinomas

Almonty locks in govt agreement for tungsten oxide plant in South Korea

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Nimy to raise $1.21M to explore 'newsy' WA targets

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Bitcoin investors need to know the risks

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Featured News