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14:12
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Originally posted by Krisp
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As a shareholder of SGH I read this often and I am surprised, amused sometimes irritated by what is going on here. Few things I will like to say. So much has been written here re the company secryy going. Is it a big deal in anyway. It is common practice in many companies that a CFO also holds the position of a company secry.. Poor AG. Was a hero. Could do no wrong.Now a zero. Strange are the ways of the world. It takes you up and then in a breath pulls you down. No one should be surprised if AG saves the company and becomes a super hero or a super star or a living legend who saved a great law firm SGH. No wonder board of directors retained him and rejected his resignation.Let us wait the verdict of time. Purchase in UK. All the top guns did the DD.Too many to name. CEO signs on it.But CEO takes the crap. Rest take 40-50 million dollars of fees.Banks salivate too and pay 700 millions or so. Did they do any DD. Sure they did.World has delivered the verdict rightly or wrongly it was all crap. Not worth a dime. I have a lurking suspicion that all the brains that did the DD and signed on it know more than what the market knows. Di they sign because NIHL was thrown into the bargain for free and they were told off the record that it can fetch them 250 million dollars in 18 months time or so. I do think that AG did not buy UK business for the profit that it was making but for the scale and size of the market. As many have written here that UK PI market is around 10 billion pounds and SGH now having share of voice of 25% if that turns into market share, that is around 2.5 billion pounds in few years .Let us assume that we are wrong and we convert that only by 50% of share of voice even then it comes to 2.5 billion AUS D IN few years. Only time can confirm this. Regarding CA, I think the longs that have lost are fuming and fretting and some can have free advertising. But when it comes to reality, no one has heard the story line from SGH side. I am pretty sure that if a CA was filed, even a well educated well informed SGH bull could present a very solid counter/response to the CA case. Forget what the top gun QC'S will do in shredding the case to bits. Not very sure are we re the first half performance . It was a one off very extraordinary time with so many things conspiring against SGH AT THE SAME TIME. Oh poor AG too lost a fortune. You think there is a need to wait till the end of August 2016 when final numbers come out. Oh yes one thing more. Many here writing that UK buy out crap and no work no revenues.so where did that revenue come from in the first half where I see 87% jump in 6 months revenue. I also heard there was no NHIL revenue there. So all cases must B be fraud cases all bogus in UK to deliver 2500 million or so to the revenues to SGH. Ha ha. The big one. Banks are gonna pull the plug. Most of the bears here are dead certain like day light. WOW. So you mean banks are financial terrorists. Banks role you mean is to destroy themselves as well as their clients. Perfect thinking. Thankd God for that. All those writing that and thinking that are not bankers.Dont know with that approach under such a situation how many companies that could survive will blwo up into ashes and how many hundreds of billions may be trillion dollars of banks all over the world will be destroyed.Whereas all banks have to do is support and work together with their client under such situations to tide over the lean patch. So folks keep it coming. Keep us amused. Don’t be shocked though to see banks supporting SGH and SGH coming out successfully as a great miracle from the dead.
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Welcome to SGH forum. Such enthusiasm reminds me of me several months back. For the record I think banks will support for their own best interest. SP may even jump 100% whoopee for ST traders. In reality it will be a long time before we see any real recovery. I don't think investors or fundies will trust AG again.
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