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Slater & Gordon Ltd (SGH.AX)

SGH.AX on Australia Stock Exchange

0.07AUD
19 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Slater & Gordon appoints Belinda Nucifora as CFO
Wednesday, 20 Sep 2017 07:47pm EDT 

Sept 21 (Reuters) - Slater & Gordon Ltd ::Belinda Nucifora has been appointed as chief financial officer and will commence with Company on 2 October 2017.  Full Article

Slater & Gordon enters into agreement to settle class action
Wednesday, 20 Sep 2017 07:47pm EDT 

Sept 21 (Reuters) - Slater & Gordon Ltd ::Entered into a binding agreement to settle class action brought against it on behalf of Matthew Hal.Terms require approval by federal court​.  Full Article

Slater & Gordon undertakes strategic and operational review of Australian business
Monday, 11 Sep 2017 08:00pm EDT 

Sept 12 (Reuters) - Slater & Gordon Ltd :Australian strategic and operational review.Updates on strategic and operational review of Australian business, including consideration of proposed cost out initiatives.Overall, approximately 7% of our australian employees are impacted.A number of office locations nationally are impacted, but majority of existing national office network will be maintained.Implementation of business-wide transformation plan, with cost reductions and structural changes, is necessary for future sustainability of australian operations.  Full Article

Slater & Gordon's group CFO Bryce Houghton to step down
Thursday, 31 Aug 2017 05:30am EDT 

Aug 31 (Reuters) - Slater & Gordon Ltd :Board has agreed with group chief financial officer Bryce Houghton that he will step down.Says will no longer require group executive roles upon separation of UK and Australian operations.  Full Article

Slater & Gordon says FY loss attributable $546.8 million
Thursday, 31 Aug 2017 05:29am EDT 

Aug 31 (Reuters) - Slater & Gordon Ltd :FY loss attributable $546.8 million versus loss of $1 billion.FY revenues from ordinary activities $611.5 million, down 32.7 percent.No current year final dividend.  Full Article

Slater & Gordon enters amended binding restructure support deed with senior lenders
Thursday, 31 Aug 2017 05:27am EDT 

Aug 31 (Reuters) - Slater & Gordon Ltd :Entered into an amended binding restructure support deed with 100% of its secured senior lenders in relation to a recapitalisation of co.‍Senior lenders have committed to increase company's existing a$40m working capital by a further a$50m​.Directors continue to hold view that current levels of bank debt materially exceed total enterprise value.Company's directors unanimously support revised terms of recapitalisation.On implementation of senior lender scheme, senior lenders will be issued with approximately 95% of equity of co.Additional funding will comprise an a$25 million aud denominated tranche and a gbp-equivalent a$25 million denominated tranche.All uk operations and uk subsidiaries will be separated from company and transferred to a new uk holding company.‍Directors unanimously support entry into rsd and proposed terms of recapitalisation​.‍Existing shareholders will hold approximately 5% of company post recapitalisation​.  Full Article

Slater & Gordon reaches conditional agreement to settle class action proceeding
Monday, 10 Jul 2017 08:13pm EDT 

July 11 (Reuters) - Slater & Gordon Ltd ::Reached in principle conditional agreement to settle class action proceeding brought on behalf of Matthew Hall through a mediation process.Company has also received notification of one other potential class action proceeding by former and existing shareholders.Settlement is subject to completion of formal legal documentation and will also require approval by federal court of settlement terms.Terms include payment of approved legal costs incurred by hall proceeding claimants out of shareholder creditor scheme fund.Terms include an agreed settlement amount relating to all shareholder creditor claims of $32.5 million.  Full Article

Slater & Gordon announces recapitalisation agreement with lenders
Wednesday, 28 Jun 2017 10:19pm EDT 

June 29 (Reuters) - Slater & Gordon Ltd :Entered into a binding recapitalisation agreement with its lenders.Slater & gordon ltd - ‍discussions between supporting lenders and company have been led by anchorage capital group llc​.Terms of amended and restated facility agreement will also provide for a new a$5m senior debt facility.Slater & gordon ltd - ‍ on implementation secured lenders will be issued with approximately 95% of company's equity​.Slater & gordon - outstanding secured debt will be permanently reduced by combination of changes to, & restatement of, portion of debt & release of remaining debt.Andrew grech has decided to step down from his position as group managing director, effective immediately.Slater & gordon - ‍under restructuring support deed, board agreed to undertake a board renewal process to will enable new lending group​ to elect new directors.Has received notification of one other potential class action proceeding by former and existing shareholders.Under rsd, all existing directors will resign in due course as new directors are appointed.  Full Article

Slater & Gordon says co was served class action suit
Monday, 19 Jun 2017 09:43pm EDT 

June 20 (Reuters) - Slater & Gordon Ltd ::Class action proceeding.A class action proceeding was served on it yesterday evening by Babscay Pty Ltd.Allegations focus on way in which co recognised revenue &, in FY 2015, accounted for acquisitions in accordance with Australian accounting standards."Claim has not been quantified".Class action on behalf of persons who acquired an interest in shares of company between 24 August 2012 and 19 November 2015."Company will defend claim vigorously".  Full Article

Slater & Gordon updates on Manus Island class action
Wednesday, 14 Jun 2017 01:22am EDT 

June 14 (Reuters) - Slater & Gordon Ltd :Announces that an in principle agreement has been reached to settle landmark Manus Island class action for $70m.Total legal costs are expected to be more than $20m and will be subject to independent assessment and court approval​.  Full Article

BRIEF-Slater & Gordon to file claim against Watchstone Group

* UK unit intends to file a claim against Watchstone Group in High Court of England and Wales for about £600 million over coming weeks Source text for Eikon: Further company coverage: