To me a NO vote means that directors should work in the best interest of the shareholders. I don't know if directors have motivation to work for the shareholders. They are pursuing WTG which is good, otherwise they have rolled over to lenders, they are incorrectly leading employees and incorrectly managing business units. I think lender will push directors to properly lead employees and manage business units which is good, but if they roll over while doing it than current shareholders will not benefit. Directors need to accept lenders assistance when it comes to business unit management and employee leadership, but oppose them when it comes to gifting shares to them. If they decide to sell shares they should sell them at a fair price that assumes that lender is going to do a good job with WTG case, business unit management and employee leadership. This would value shares at much more than a current market value.
SGH Price at posting:
6.9¢ Sentiment: Sell Disclosure: Held
