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DONACO88

4,427 Posts.

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01/03/17

15:56

Post #: 23016167
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Originally posted by Cato ↑

Dear Htran,

I think you are deeply wrong in your revenge.
If you hold the 51% you run a risk the banking syndicate don't buy your shares for your 1 cent.

But that is not the worst...If Maurice Blackburn win the action, than you will be liable for pay 51% of the claims..

I think you make much better if you accept (as hard as it is) to Grech the losses and so expressively high like to all other ones... Just recently his fortune was 50 million all in SGH shares... Now exactly this shares value is around 500,000. The worst for him? if he places his 7 million shares to sell, probably the last lot will not achieve a market price of 1 cent...meaning... his 500K is not even real... maybe he could collect 100K at most.

I'm 60 and I saw so many thinks in my life... but to be honest a change of status like SGH in Australia so profitable and well managed to an single mistake (single but crucial) that just bankrupt an entire business in less than 1 year... Honestly I never saw...
And fair remind... good or bad they make inspection and due diligence and third parties state the value was "ok" (even if over valued like always when you buy such businesses.

The sequence of bad news one after other have the highest point today with such article in market(true or false now is irrelevant) suggesting solicitors take money upfront if they will deal with SGH.. This is really the end of any acceptable "moral" a company has.

Really sad, really shame, really amazingly un explicable such sequence...

My only question mark here is:

If the assets worth 800 and the debt is 1.1 maybe still (if the company can prove be capable to pay 50M a year) the banks will prefer (without give one single new cent) hold the debt because better bet in 6 years the volumes match(in and out) and from there the business slowly can pay in 10 years.
Not easy for a bank just write down 1.1 .They also have shareholders that will question their risk management.

Cato

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ok, maybe i should stick to just 19.9% of the shares. at 0.001 that's 70 grand.

Jim & Denbo, how about you guys take up the other 19.9% each.

We could do a Nick Bolton and "threaten" the banking syndicate with VA. Buy us out for 0.002 shares, or face VA and loose a couple hundred millions. Worst case we throw our 70 grand each out the bin. Not that we haven't loss enough on this beast.

anyway, enough with fantasies and back to reality. i see we are now down to 6.8 cents.

SGH Price at posting: 6.9¢ Sentiment: None Disclosure: Not Held
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