I am back. So is SGH, page-1407

In relation to our upcoming $1billion Watchstone lawsuit it is interesting to note that SGH already in February 2017 notified the market about various claims against Watchstone (so not just the escrow in my opinion). It stated that SGH had a positive based opinion of its claims from an independent barrister.

http://www.asx.com.au/asxpdf/20170227/pdf/43gbmcq5zq8kdw.pdf

Watchstone Group Plc
On 19 September 2016, the Group notified Watchstone of various claims it intends to bring against Watchstone from its acquisition of Watchstone’s Professional Services Division (PSD) in May 2015. On 29 November the Group obtained a positive merits based opinion of its claims from an independent barrister, in accordance with the provisions of the Share Purchase Agreement (SPA) between the Group and Watchstone. Having met this threshold requirement, under the SPA provisions, the escrow amount of GBP50 million will not be released to Watchstone until such time as the claim made against Watchstone is resolved (through court proceedings or settlement). The Group has until 19 June 2017 to issue court proceedings or settle these claims. End quote.

It is more likely than not that our new lenders were aware of this. They know about the merits of the CLAIMS. Based on this and the outlook of SGH they bought the debt imo

Interesting day today.

Are the shorters continuing to cover?

Buying up shares on the cheap?

All in my opinion.