As commented on already, it makes tactical sense to have ASX trade suspended, albeit on a technicality, while so much is up in the air. Like others in this forum, i dont have insider info. I would have liked the financial reports released sooner and more announcements to update the market. However I also recognise the many, sometimes competing responsibilities of directors and CEO to act in best interests of the corporation, and that may include some lawful tactics as we are observing.
Reading between the lines on media speculation, adequate full disclosure isn't possible until some agreement is made, strategy decided on, or BATNA committed to. SGR will not trade until the day after announcements. So if announcements, and required reports on Friday, won't trade till Monday.
Many significant issues are in need of a path to resolution and when revealed via announcement, the market will have information needed to make trade decisions.
I would anticipate an announcement soon to comment on items of media speculation, the regulator report, financials and future plans.
While daunting, none of thrse problems are insurmountable. The new CEO and team are taking the right steps to pathfind. The J-curve may be imminent, things can dip before turn. Loan terms can be extended for harsher rates, assets can be mortgaged, orher assets can be sold, future revenue assigned, current liabilities deferred, taxes deferred, and funds raised one way or another, costs cut, leases renegotiated, revenue raised, etc. There are many levers to pull.
By takeover or turnaround, or carve up, SGR is undervalued. Prospective buyers know that. Just depends on if the price is right. The retail cohort of 48% of holders might accept a lower offer, maybe even mid 60's cents, and only a few of the larger holders need to switch sides to get a majority, and maybe a final offer in 70's cents. Typically a SP would get close to whatever the offer figure is. If more than one bidder, who knows, for the better. If turnaround, thinking monger term, the value will he better in a year from now, and even better in years after.
IMO. DYOR. NFA.
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