1) Banks exposure massively reduced - no evidence of this - the...

1) Banks exposure massively reduced - no evidence of this - the only reference to the debt provided for the acquisition was that it was taken out in a combination of pounds and $A. The impact of a plunging pound is impacted right across the balance sheet (ie) WIP, receivables, payables etc. It all comes out in the wash

2) SGH's is in negotiations with its banks because it can't meet its debt obligations - The thought process that requires the banks to be more flexible to assist SGH is a little indifferent from reality. Hence any deal will ultimately see debt reduced and quickly. IMO of course.

3) Shareholders who work for SGH have already suffered massive equity losses and are currently staring down the barrel at 100% equity errosion. Owning a % of something is better than owning a % of nothing.

Any deal with the banks which includes debt reduction requirements is material at the time the deal is made. In a nut shell if debt reduction is required, then the magnitude and time frame must be announced at the time of a deal.

The prospects of a rally off the back of an announcement that does not outline substantial non operational debt reduction during the next 6 months are slim at best. Credibility is lost, revenues don't seem to convert to cash and faith in the Company's financials is gone.

Having been involved in many equity raisings, the one thing I can assure you that would not happen is a substantial increase in the share price prior to the event. Those that can impact the share price would sit on their hands and wait for a cheaper equity raising.

Your timeline, although beneficial for shareholders is at best wishful thinking, given that the details of a debt deal would require full disclosure and include any capital requirements.

BUT - these are all fanciful gap filling discussions until we get an outcome.