I dont understand your reasoning of the so-called benefit that the debt buyers bought the debt at a 75% discount and that a debt owners discount is somehow of any benefit to current shareholders. If i was a Debt buyer at 25% i would be thinking of using the 100% still owed by SGH to all the possibilities to gain the maximum advantage the original 100% might offer. ie convert all 100% into shares after receiving my original 25% cash or more back in cash and the rest in equity to the maximum leverage possible which might mean the absolute watering down of other shareholders interests to next to nothing but at same time keeping the asx listing rules satisfied. There are numerous possibilities to be worked out because the debt owners need to keep the staff happy to keep working and motivated in the current structure, but i dont see any benefit to non-operational staff shareholders.
I was surprised the sp rose today and good luck to those who benefitted but i still see holding shares in SGH as a very high-risk spec which could easily lead to a 100 to 1 style consolidation to benefit the important stakeholders being the Debt owners who will still be entitled to 100% plus accrued interest and the workers at SGH.
What we dont know is if some of the partners bought the discounted debt. interesting possibility.
