I agree it has been a continuous sell off.... It is not stock...

I agree it has been a continuous sell off....

It is not stock specific though... Competitors MMS/SIQ/ECX   have all had the same trend... avg 30% off their recent peaks... AHG also the same pattern...

The reason stems from possible regulation changes at dealership level in regards to finance and insurance add on products... There has been complaints from individual customers that they are not getting all the info in relation to finance and insurance agreements..

I can only speak for SGF as I hold (since IPO) and have analysed .

On the following basis I believe the SP fall has been an overreaction:

• caught up in the current negative industry sediment
• fleet management is a large portion of the business which is not in review
• has large corporate/gov contracts that have been awarded on competitive bidding basis hence due diligence has been done by customers and will not be impacted by review
• continue to win large contracts
• certain areas of the business has become competitive squeezing margins... this was evident Y16 and continues... not a large impact
• growth outlook is good
• majority share holder has maintained stake 53% along with directors

I have been accumulating and continue to do so... It is a bargain stemming from an event that hasnt occurred and if does impact would be minimal...