Posted by @tobyjack over at SGH threads FYI - extract from The...

Posted by @tobyjack over at SGH threads

FYI - extract from The Age.....

4:09pm: The dramatic fall in Slater & Gordon's share price has hit the wealth of executives hardwith around $63 million of combined losses since June 2015 shared among 11 directors and management.

Directors contributed around $22.8 million towards the April 2015 rights offer resulting in a $20.27 million loss from those funds committed excluding proceeds from selling rights to buy shares at a discount.

Andrew Grech's equity in the company has declined by $20 million while Ken Fowlie's stake is worth $16 million less than it was five months ago. Hayden Stephens and Cath Evans have also suffered seven figure losses.

Employees of the firm have also been hurt by the sell off. According to the annual report 3,071,740 shares worth $10.9 million at June are owned by staff who took out interest free loans on the company; with the value of those shares having lost around 80 per cent or $8.75 million of value.
Possible margin calls on these loans could lead to more selling ahead.

"If you thought it was a bad week for Slater & Gordon, it could be about to get worse," APP private wealth adviser Matt Felsman notes.

"With shares trading at 72¢ as I am writing this, Slater & Gordon employees are down 80 per cent on borrowed funds they will more then likely be subject to repay," Felsman says.

Slater & Gordon share fell 27 per cent to 68.5 cents today and have lost a whopping 74 per cent this week.


Read more: http://www.theage.com.au/business/m...r-pressure-20151126-gl9bzf.html#ixzz3sffZphCy