814 replies to this topic

[orca]

Gamma. Please show me where it states that they were Shorts. You go waaaay back to 2013 and you still cannot show if the recent trades were longs or shorts. Please enlighten me.

[WINH]

@ Gamma, interesting list of trades indeed. There definitely was questioning before the arrest, and these dudes spoke among each other... it's a good thing that today PNC gave a window for some investors to bounce, pity those that are still going in...

[gamma]

Did that. Guide me here as I can't see if it was a closed long or a new short. 

 

Ok, they knew that they would have to announce this right? The guy was arrested a couple months ago. So look at the transactions in between.

 

Name of Director GJ Wiehahn
Position Executive director
Nature of Interest Direct / Beneficial
Type of Transaction Sale of Securities (Contracts for
Difference)
Class of Security Ordinary shares in Pinnacle
Number of shares 1 trade totalling 10 000 shares
Price 2020 cents
Value of Transaction R 202 000
Date of Transaction 12 March 2014

 

Then look even further back - Did they know something was up? e.g. was there an investigation before the arrest that alerted them? Lots of sales all the way back to June or so last year. Its nothing conclusive but a little suspect. I didn't find any 'long' to suggest this last sale was not a short sale.

 

Name of Director Arnold Fourie
Position Chief Executive Officer
Type of Transaction Sale of securities involving transferring
the shares from Die Fourie Familie Trust
account to a private unit trust
Class of Security Ordinary shares in Pinnacle
Number of shares 1 200 000 shares
Price per share 2427 cents
Value of Transaction R 29 124 000
Nature of Interest Indirect / Beneficial
Date of Transaction 25 November 2013

 

Name of Director R D Lyon
Position Executive director
Nature of Interest Direct / Beneficial
Type of Transaction Sale of Securities
Class of Security Ordinary shares in Pinnacle
Number of shares 15 trades totalling 70 000 shares
Price - High 2396
- Weighted average 2387.56
- Lowest 2385
Value of Transaction R 1 671 290.34
Date of Transaction 14 November 2013

 

Name of Director T P Humphreys-Davies
Position Executive director of a major subsidiary
Nature of Interest Direct / Beneficial
Type of Transaction Sale of Securities
Class of Security Ordinary shares in Pinnacle
Number of shares 21 trades totalling 72 450 shares
Price - High 2240
- Weighted average 2234.14
- Lowest 2229
Value of Transaction R 1 618 634,00
Date of Transaction 8 October 2013

 

Name of Director B A Clarke
Position Executive director of a major subsidiary
Nature of Interest Direct / Beneficial
Type of Transaction Sale of Securities
Class of Security Ordinary shares in Pinnacle
Number of shares 21 trades totalling 34 332 shares
Price - High 2309
- Weighted average 2302.61
- Lowest 2300
Value of Transaction R 790 532,06
Date of Transaction 2 October 2013

 

Name of Director B A Clarke
Position Executive director of a major subsidiary
Nature of Interest Direct / Beneficial
Type of Transaction Sale of Securities
Class of Security Ordinary shares in Pinnacle
Number of shares 3 trades totalling 4463 shares
Price - High 2330
- Weighted average 2330
- Lowest 2330
Value of Transaction R103 987.90
Date of Transaction 27 September 2013

 

Name of Director B A Clarke
Position Executive director of a major subsidiary
Nature of Interest Direct / Beneficial
Type of Transaction Sale of Securities
Class of Security Ordinary shares in Pinnacle
Number of shares 26 trades totalling 45 000 shares
Price - High 2324
- Weighted average 2313.37
- Lowest 2300
Value of Transaction R1 041 020
Date of Transaction 26 September 2013

 

Name of Director B A Clarke
Position Executive director of a major subsidiary
Nature of Interest Direct / Beneficial
Type of Transaction Sale of Securities
Class of Security Ordinary shares in Pinnacle
Number of shares 12 trades totalling 34 000 shares
Price - High 2311
- Weighted average 2300.84
- Lowest 2300
Value of Transaction R782 285,79
Date of Transaction 25 September 2013

 

Name of Trust Louis Fourie Trust
Name of Director L Fourie
Position Executive director of a major subsidiary
Nature of Interest Direct / Beneficial
Type of Transaction Purchase of Securities
Class of Security Ordinary shares in Pinnacle
Number of shares 5 trades totalling 18 400 shares
Price - High 2200 cents
- Weighted average 2194,79 cents
- Lowest 2187 cents
Value of Transaction R403 840,69
Date of Transaction 23 September 2013

 

Name of Director B A Clarke
Position Executive director of a major subsidiary
Nature of Interest Direct / Beneficial
Type of Transaction Sale of Securities
Class of Security Ordinary shares in Pinnacle
Number of shares 5 trades totalling 28 260 shares
Price - High 2319
- Weighted average 2303.82
- Lowest 2300
Value of Transaction R651 059.40
Date of Transaction 19 September 2013

 

Name of Director T A M Tshivhase
Position Executive director
Nature of Interest Direct / Beneficial
Type of Transaction Sale of Securities
Class of Security Ordinary shares in Pinnacle
Number of shares 2 trade totalling 25 000 shares
Price - Weighted Average 2 400.18 cents per share
- Highest 2 401 cents per share
- Lowest 2 400 cents per share
Value of Transaction R600 045.00
Date of Transaction 28 June 2013

 

Name of Director T A M Tshivhase
Position Executive director
Nature of Interest Direct / Beneficial
Type of Transaction Sale of Securities
Class of Security Ordinary shares in Pinnacle
Number of shares 3 trades totalling 1 319 149 shares
Price 2 350 cents (for all three trades)
Value of Transaction R31 000 000.00
Date of Transaction 24 June 2013

Edited by gamma, 27 March 2014 - 06:09 PM.

[orca]

Director dealing in securities

In compliance with paragraphs 3.63 and 3.64 of the Listings Requirements
of the JSE Limited (“Listings Requirements”), Pinnacle advises that the
following dealings took place by a director of a major subsidiary of
Pinnacle:

Name of Director GJ Wiehahn
Position Executive director
Nature of Interest Direct / Beneficial
Type of Transaction Sale of Securities (Contracts for
Difference)
Class of Security Ordinary shares in Pinnacle
Number of shares 53 trades totalling 161 518 shares
Price - High 1786 cents
- Weighted average 1666.66 cents
- Lowest 1470.00
Value of Transaction R2 691 956.74
Date of Transaction 25 March 2014

The trades were done on-market and clearance to deal was obtained in
terms of paragraph 3.66 of the Listings Requirements.

Midrand
27 March 2014

 

 

 

 

Here we go. Point to me where you see that it was a Short please. I REALLY can't see it.

[orca]

Easy to establish...
Scroll back in the SENS archives

 

 

Did that. Guide me here as I can't see if it was a closed long or a new short. 

[gamma]

Easy to establish...
Scroll back in the SENS archives

How do you know it was a Short? I thought he closed his Long. It just says "Sale of shares". Some other manager closed his CFD long recently as well.

[orca]

Just saw via SENS one of the directors (GJ Wiehahn) short selling.<br /><br />Cant be good!<br /><br />Sent from my GT-I9300 using Sharenet Sharechat mobile app<br /><br />

 

How do you know it was a Short? I thought he closed his Long. It just says "Sale of shares". Some other manager closed his CFD long recently as well.

[Shortboy]

Some brave people out there, after that horrible interview with the director I'll not touch this one, any speculation where this one will flat out?

See note below - R4.75

[ryanm]

Someone with inside information taking advantage of the naive buyers out there and that also announced 2 days after the transaction.... these PNC Clowns!

This transaction took place on the 25th. Maybe he was hedging his position?

[WINH]

Just saw via SENS one of the directors (GJ Wiehahn) short selling.<br /><br />Cant be good!<br /><br />Sent from my GT-I9300 using Sharenet Sharechat mobile app<br /><br />

Someone with inside information taking advantage of the naive buyers out there and that also announced 2 days after the transaction.... these PNC Clowns!

[Stefan]

Just saw via SENS one of the directors (GJ Wiehahn) short selling.<br /><br />Cant be good!<br /><br />Sent from my GT-I9300 using Sharenet Sharechat mobile app<br /><br />

[gamma]

Some brave people out there, after that horrible interview with the director I'll not touch this one, any speculation where this one will flat out?

 

Who knows but as I said last night this is the opportunity to off-load if you own PNC. Yes it could go up but with the ongoing uncertainty and court cases to come, down is much more likely.

[Goliath]

PNC seems to have lured many buyers today, be wary of a dead cat bounce though!

 

Some brave people out there, after that horrible interview with the director I'll not touch this one, any speculation where this one will flat out?

[WINH]

PNC seems to have lured many buyers today, be wary of a dead cat bounce though!

[Shortboy]

Why was this guy so highly rated? Sounds dof.

I listened to a brief interview earlier and was also very unimpressed. Came across as hiding something.

 

LOL!

CEO Arnold Fourie told TechCentral on Tuesday that it was not necessary to alert shareholders earlier as it was a “private issue” and not one that affected the company’s financial performance.  — © 2014 NewsCentral Media

Sold the PNC CFDs I bought yesterday at today's open for a very small profit, thankfully, as well as my long term holdings in Datacentrix where I see the bribe suspect (who at this stage looks to me like he is about to become the sacrificial lamb) is also a director.

 

I saw the sens today. For me, not disclosing the arrest of a director under suspicion of a serious charge like bribery of a senior state official, directly in connection with a large business contract, is not a private issue in my opinion and definitely should be disclosed to me immediately it happens, whether or not a formal charge has been laid....its a material event and also because its the RIGHT THING TO DO.

 

Another aspect to this company is the huge amount of debt it is carrying relative to its capital and reserves....I can just imagine how much "work-out" strategising is going on in those greedy bank head offices that fell over themselves to lend to PNC in the good times...not to mention trade creditors.

 

Lets see how it rolls. Personally I don't think PNC will survive this. I really feel for all those employees who are going to go down because of this.

 

In their Dec 2013 accounts the posted Tangible net asset value of PNC is R6.63. After taking out other items that are not clearly described, my assessment of tangible NAV is around R4.75.....at the very most in this sad situation.

 

As for all the other CEO's out there whose companies are involved in this shady type of business and haven't been busted yet, all you can say is:

 

"There but for the grace of God go I"

[gamma]

Here is the Whitfield interview. make up your own mind

 

https://soundcloud.c...ie-group-ceo-of

[Goliath]

I found the part where Bruce asked if he thinks the whole bribe thing is a personal matter or company matter very funny... Fourie at first quite confidently answered "person issue!" but quickly became silent when Bruce connected the whole "bribe to get a contract for the company" as actual company business. By that time if was way too late to backtrack on those comments. Can't be fun... and after all of this the striking workers will still ask why CEOs get paid way more. Nobody wants that CEO job when things turn ugly.

 

Just goes to show how quick things can turn around.. lucky those that climbed out at R25! (remember someone on one of the threads did say so or something along that line if i'm not mistaken..)

 

Edit:

 

CEO Arnold Fourie told TechCentral on Tuesday that it was not necessary to alert shareholders earlier as it was a “private issue” and not one that affected the company’s financial performance.  — © 2014 NewsCentral Media

 

Good heavens, what a joke!

Edited by Goliath, 26 March 2014 - 10:21 PM.

[gamma]

CEO Fourie interviewed on Bruce Whitfield's show tonight - what a disaster. Did not instill any confidence whatsoever, unsure of himself and the matter at hand, a bad communicator. And he asks BW: "So what do you suggest we do?". Really??

 

The director was arrested on 5 March, no communication to the market, CEO sells R23m shares after that - according to him a "forced" sale due to a derivative-based transaction (collar) dating from 2012. Then the alleged briber sells R4m shares after he apparently asked in January to sell, but had to wait for end of closed period.

 

So conveniently they delay the SENS until after their sales go through at R20 and their investors sit with a share worth half that after 3 days? Maybe Fourie's sale was forced, but why not SENS the facts on the day after the arrest?

 

Side note: Orca - you have been quick and very vocal to high-five yourself on anything that resembles a share forum on your stock picks in the past. A constant rhetoric for a very long time. I guess we see who has been swimming naked when the tide goes out...

 

And losses an asset? Good heavens - you keep accumulating those assets "my good man" - sounds like a great approach.

 

Why was this guy so highly rated? Sounds dof.

I listened to a brief interview earlier and was also very unimpressed. Came across as hiding something.

 

LOL!

CEO Arnold Fourie told TechCentral on Tuesday that it was not necessary to alert shareholders earlier as it was a “private issue” and not one that affected the company’s financial performance.  — © 2014 NewsCentral Media

Edited by gamma, 26 March 2014 - 10:11 PM.

[Jonny]

CEO Fourie interviewed on Bruce Whitfield's show tonight - what a disaster. Did not instill any confidence whatsoever, unsure of himself and the matter at hand, a bad communicator. And he asks BW: "So what do you suggest we do?". Really??

I found the part where Bruce asked if he thinks the whole bribe thing is a personal matter or company matter very funny... Fourie at first quite confidently answered "person issue!" but quickly became silent when Bruce connected the whole "bribe to get a contract for the company" as actual company business. By that time if was way too late to backtrack on those comments. Can't be fun... and after all of this the striking workers will still ask why CEOs get paid way more. Nobody wants that CEO job when things turn ugly.

[Immobilier]

CEO Fourie interviewed on Bruce Whitfield's show tonight - what a disaster. Did not instill any confidence whatsoever, unsure of himself and the matter at hand, a bad communicator. And he asks BW: "So what do you suggest we do?". Really??

 

The director was arrested on 5 March, no communication to the market, CEO sells R23m shares after that - according to him a "forced" sale due to a derivative-based transaction (collar) dating from 2012. Then the alleged briber sells R4m shares after he apparently asked in January to sell, but had to wait for end of closed period.

 

So conveniently they delay the SENS until after their sales go through at R20 and their investors sit with a share worth half that after 3 days? Maybe Fourie's sale was forced, but why not SENS the facts on the day after the arrest?

 

Side note: Orca - you have been quick and very vocal to high-five yourself on anything that resembles a share forum on your stock picks in the past. A constant rhetoric for a very long time. I guess we see who has been swimming naked when the tide goes out...

 

And losses an asset? Good heavens - you keep accumulating those assets "my good man" - sounds like a great approach.