rear guard action, page-16

below are some posts on sgl.

http://www.aussiestockforums.com/forums/showthread.php?t=1963&page=9&highlight=sgl

The way I read it, AGK own 139mill SGL as at 6/1/09 and have 79 mill shares pledged ( by BNB & AJL) that will be theirs only in the event a higher bid does not emerge. (See substantial holding notice detail 24/12/08). Therefore they are yet to own 50% outright....ie, <30% if a higher bid is pitched by another party. Purposely ambiguous imo....


Col,

I think you may be right for two reasons:

1) AJL/BNB have not issued a change in substantial holding notice.

2) One of the annoucements released 24/12/08 is partially titled "Lending Agreement".

I'm a little surprised that AGL did not make more out of gaining 50% acceptance.

I'm guilty of having invested too much emotional capital in SGL. Time to move on a little.

Bill