Australia's largest stock trading and investment forum Australia's #1 stock forum

SGH

Click for more information

0.00%

54.5¢ slater & gordon limited

Who exactly is throwing money at MB?

First 4 Last

Share
Profile

Follow
Blackrivered

3,337 Posts.

1

24/12/15

08:37

Post #: 16679965
Share

Originally posted by researchandwin ↑

I thought I would just take a little time and objectively review some timelines, significant price movements and correlating market information.

I will then correlate this with the proposed timeline within which aggrieved SGH shareholders should entertain the prospect of a class Action.

REMEMBER IF YOU ARE GOING TO LAUNCH A CLASS ACTION YOU NEED TO BE ABLE TO QUANTIFY THE IMPACT THAT MALPRACTICE, MISGUIDANCE etc ON BEHALF OF THE COMPANY HAD ON THE SHARE PRICE.

Lets work backwards shall we

December 16^th
Share price (day) low $1.05 – close $1.08, (5 days including) low $0.88 – high $1.13
After the announcement of the 17^th the share price traded from 97 cents down to 76cents and back to $1.01 within 5 trading days. Interestingly enough it’s the class action news that stopped it from trading back towards the $1.10 range.
The share price 5 days from the announcement traded less than 5% lower than the low of the 16^th.
SO YOU CAN COMPLETELY SCRATCH DECEMBER 16^TH as a day upon which you could have been an aggrieved shareholder.

November 26^th
The UK Govt announcement – This sent the share price to a low of 60cents. This is not culpability on behalf of SGH. So November 26^th is now a date that is out.

November 20^th
AGM – Closed on its low of $2.68.
Now this is where I’m afraid you have to be realistic. The share price plummeted on the 21^st because of technical breaches and heavy shorting. This can be simply proven. (I also suspect a few insiders knew of the impending UK announcement)
Any way you can scratch November 20^th as a date for being agreived.

June 24^th
Yes folks we are now way back at June 24^th.
Why, because this is the first real tanking. What happened on June 25^th. I don’t really need to explain the Quindell suspension and regulatory enquiry.
Anyway after a close of $6.13 she tanked off the back of something else that would appear to be largely out of SGH’s control.
So if you’re a shareholder on June 24^th, feel aggrieved and believe it was SGH’s fault, then I guess you can go and throw money at MB.

Now you can try and rip this apart all you like. The fact is these are the key dates. 4 key dates four key price movements. These are the dates preceding significant price movements and point to the information flow that caused it. YOU CAN QUANTIFY THE ENTIRE PRICE MOVEMENT OFF THE BACK OF THE INFORMATION RELEASED THE DAY AFTER THESE DATES. NOT ONE OF THEM RELATES TO MISINFORMATION etc on SGH's behalf.

To use a timeframe of April to December is just disgraceful. But I guess they will need all the willing donators they can.

The whole thing could get crushed by February if SGH is able to right the ship. Tough times ahead though I fear.

Anyway as a free carried share holder I can afford to hang on. I feel deeply for those who have been tortured by the events of this year.

MERRY CHRISTMAS

PS,
I would also not want to stand before the court and explain that I lent my shares out to some hedge funds who tanked the share price and caused me to loose money.

Expand

Who exactly is throwing money at MB?

SGH Price at posting: 91.5¢ Sentiment: Hold Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

EEG

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

IRX

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

CUF

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

CLE

Cyclone signs MOU with Vale for development of Iron Bear play

GDM

Banshee's historic trenches prove rich in antimony and gold for GDM

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

TYX

Tyranna wraps up lithium drilling in Angola; says looking for other projects with different metals

BNL

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

First 4 Last

Add SGH (ASX) to my watchlist

SPONSORED BY