There selling the SSF.debt to Allegro because they got a good deal. Allegro used a carrot to entice the debt holders and a sledge hammer for shareholders.
By keeping their shares the hedge funds continue to control Slaters.
Hedge funds are here to make money. Why crystallise huge losses selling at 55cents, when they can run the show as major.shareholders without the burden of the SSF. Dont forget Slaters is after 8yrs of losses profitable to the tune of 16m in the first half alone, 30m to 40m potentially for the FY.
This takeunder bid isn't a fait accompli!!
SGH Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
