I agree the board must have thought there was some value in PSD. However I believe AG was keen to keep the roll up growth train moving to cover past anomalies. There is absolutely no way I beleive that AG & Co didn't know some six months later that PSD was losing money but SH were not told that. To the contrary we were told in essence everything was going as planned as late as November 2015. That is why I say shareholders were conned.
Do you think the fact that AG has so much skin in SGH could be a good reason why the company outlook was so optimistic? I don't even want to go into the ridiculous SP bonus for AG that some here voted him and was approved last AGM.
I beleive the upcoming financials will be poor. If they are good the CA settlement will not happen and current SH will not vote in favour of the recapitalisation plan. I was looking forward to the semiannual SGH cup race but unfortunately for those who want to unload I think it may be rained out.
