The banks took 15% of the company in this agreement, an expensive agreement not an unconditional vote of confidence I would say.
WIP and receivables will cover the debt so the only thing I am sure of is that the banks will do well if cashflows fail to materialise and if SGH returns to positive cashflow both banks and shareholders will do well.
I don't like the odds.
Sold all my SGH shares today, page-161
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