SGH (ASX) Aquisition video

Originally posted by walkingeagle ↑

"It appears you are claiming false expertise as much as anyone else"...................

.........that's a pretty low accusation, Nick. Have a look back through my posts and see if there's any other evidence I don't know what I'm talking about - I did this for a living and I've been totally open about my career and who I spent it with. My comments (which don't speculate on what precisely is in the warrant clauses in the S&P agreement here) are all based on experience, not on hypothesis or what I want to be in there.

I speak as I find, not as others want me to or as I might ideally want to if, as is the case here, I happen to own shares in the company I'm criticising. It's called being an adult and striving for balance. I don't have a huge holding in SGH - why would I with all the risks involved - but it's still over 100k shares which I paid a fair bit more for than they're worth now. Recently I have got a much better handle on why this is so and I have truthfully said I intend to reduce when ("if" more like) there is an opportunity to do so at a price that doesn't lock in as much loss. It was a worthwhile try and it might have turned out differently, but I am now convinced Grech is not the right person to take the business forward, if only because he'll be too scarred by what's happened and won't be able to judge risk properly. This isn't to say he shouldn't take it - it's all a matter of judgement, but his judgement may be clouded. The evidence suggests to me it is.

I worked on many corporate deals over the years so I know what I'm talking about and what warranty clauses are intended to cover. I don't know what is being claimed here but whatever it is the case is likely to be a weak one, if only because it was abundantly clear throughout the period SGH carried out its pre-acquisition work that QPP was in a mess, Grech himself publicly stated he hadn't taken any notice of PSD's numbers and SGH was satisfied with what it had bought. Unless SGH's people were deliberately misled (lied to) there isn't a snowball's chance in hell of walking away with a lot of money here. It looks to me like a try on.

The above is my genuine opinion. Others are entitled to theirs.

That's it from me on this board - there is no point in me trying to put forward balanced, experienced views for reasoned debate if all I am going to get is insults when I post material that isn't popular because it doesn't say Grech is wonderful and SGH is a winner. I again raise the subject of the emperor's clothes.

Good luck

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