Estimated close today, page-12

SGH is a turn around story. Look at how far the SP has fallen and what has been resolved since that time. ASIC investigation into revenue recognition approach over. Debt facility renegotiated on largely the same terms with 41% of banks taking their arrangement fee in SGH shares (!). A significant amount of goodwill has already been written off to reflect the new outlook for UK business performance and potential UK reg changes. IMO already reflected in the SP. Note they still see the Quindell acquisition as a strategic move into the UK despite clearly overpaying for it. I can't begrudge people for bailing out of this with a 2x return (it is a short term trader's dream stock) but given the option I expect this to be a 5-Disallowed in time. It is a well established business in Australia, just needs to clean up the mess in the UK and get back to BAU. It has already demonstrated that the worst is behind us. All IMO of course.