Hi Westcott, Thanks for this. Of course, a lot of the above...

Hi Westcott,

Thanks for this.
Of course, a lot of the above appears in the June 2014 slide show presentation of SDL and as we all know - things have changed drastically since that time. The environment/landscape has changed for the worse and SDL management certainly seems to have lost all hope based on their recent actions (...had they been on track to lock away funding in the near future there would have been no need for cost cutting and the cash preservation initiative to TRY AND SEE THEM THROUGH TILL 2016).
I'm not sure if you have had recent discussion with GC or anyone else in the SDL office to see if Standard Bank is actually working on the supposedly "signed debt funding strategy". That is all it ever really was - a "strategy" that were meant to pursue debt funding. I'd imagine that this mandate for Standard Bank also had to be terminated because of the cash strapped situation and there is no way that Standard Bank will provide these service for free. And it wouldn't be cheap either. It is sad and a disgrace that SDL continues to keep everybody in the dark. ... and only to come out with the sort of quarterly report as only SDL can do. They are masters in BS everybody. Their silence on the Standard bank must probably be seen as yet another "failed attempt" by these guys.

All IMO and always hoping that I'm 100% wrong.
cheers