Were Redde facing a massive CA at the time of the D4E? I can’t see anyone sane looking to put money into SGH until the risk of that is hived off. The only way to do that is to wipe out the current shareholders.
Given the repetitional damage already suffered by SGH and the rapid pace everything is unwinding, there is a pretty good chance the banks have given up on any SGH Mark II and will just sell of the few assets left out of administration. If the banks get back 20c on the dollar they will be pretty happy now.
SGH Price at posting:
7.1¢ Sentiment: None Disclosure: Not Held
