Its been over 1 year since the decision to exit GoGetta and the...

Its been over 1 year since the decision to exit GoGetta and the senior lenders wanted $45m of increased subordination. At that time, SIV could have done a rights issue at a 25% discount to the post announcement share price of around $4.80, which was $3.60 or 200% higher than it is today.

The last update I read was that while the senior lenders want $45m of extra enhancement, the sub-debt provider that they had been talking to wanted $20m of ordinary equity to support them, bringing the total to $65m....which of course is now higher than the current market cap. Congratulations.

There has been very little out of the company on any progress to date on the sub-debt or the rights issue, but something has to be done or the share price will continue to decline below the current $1.145 as it has done almost every day over the last year that they have allowed this issue to go unresolved.

How can a company allow an issue of this importance to go unresolved for 12 months???