I have emailed dan mccrum (alphaville) asking for clarification...

I have emailed dan mccrum (alphaville) asking for clarification on the net debt/ cash flow figures. SGh pro forms net debt was $537m which alphaville agree with. They have purportedly back calculated the cash flows based on the closing net balance of $720m. However if you check the waterfall chart the opening net balance figure is $527m - this should account for $10m of the $41m difference. I am sure if someone spends time analysing the accounts the balance could be reconciled too. In the meanwhile I suggest SGh shareholders sending dan email asking for clarification. If he fails to respond or makes the correction he is spreading false/ misleading information

I am tempted to cc Andrew g a copy of my email to Dan

Dyor