900 replies to this topic

[PickApprentice]

The one vital question is: If the results were encouraging, why would management not disclosed it immediately? 

 

 

[battleship]

Hi JHB 1972

I see it as follows

1The acumen and quality of afqawn is top class

2They showed what they can do....grindstone profits etc

3Since they almost run the mba degree etc they are in the medias eye and MUST deliver.ITS THEIR REPUTATION

4 Can you see them saying they sat on their b..hinds all year and did ...nothing..I CANNOT

5The question is...What did they gain by irritaying their shareholders and divulging zero info?

6This one I cannot comment on.

7 Since I don't believe 4 above applies,whatever they have done should be good for the shareprice.It should be both result sensitive and future growth indicative.

8the bottom line is that our painful top brass ....MUST....declare in a few days.They have won in telling us nothing, but their silence cannot be contained anymore

[ajax]

Battleship do you think the price is result sensitive or is the market waiting for some action that will underpin future growth - the best possible outcome is a slow down in bleeding - let's wait and see? As far as I understand a number of small shareholders are mustering media connections to 'investigate' the happenings including the Rights Issue and promises made by the Afdawn Board (SENS). There is also a lobby to look into the actions and substantial resource allocation focussing on Grindstone. The thinking is if there is no communication bring the media to the company.  

 

I believe a larger shareholder is considering a motion to relook at the Knife Capital deal and the RI. He won't have the clout to succeed but with media in attendance this can be uncomfortable for the Afdawn Board.      

[battleship]

true but volumes at 9c are very small and 10c this a brick wall resistance(until a sens is given).Where did the media representation at the AGM come from.This sounds positive.Would they do this if they did nothing for this year and were mullets? NOT LIKELY.I do believe the shareprice will go 14c plus shortly.Can you see a pathetic set of results sending us back to 5c.I JUST CANNOT

[ajax]

Volumes up and price from 7 to 9 cents.....looks good. I really like the idea that there will be media representatives at the AGM. 

[ponzi]

If that is indeed so why has he been 'released' from the Social And Ethics Committee as well and other, notably, Knife Capital Executives appointed in this regard maybe a more liberal approach to social and ethics?    

 

JG has a long history with the company and a good understanding of the historic nuances - this all seems to be pointing in one direction. Maybe he is not appreciating that he will become a casualty as many before him. Let's wait and see what will happen with Me Hickley and Lessing in the near future.

 

Let us hope that once KC and the new Chairman have cleaned up a more stable environment will be established.       

[Staghorn]

I can't think that JG is on his way out, but rather that he is "released" from all the other stuff to concentrate on running the business...what do you think?

[ponzi]

Is JG is on his way out? The Remco does not take 'management' time? (he is being sidelined) I think there will be more Board changes soon, firming the take-over up. The new look Board must have their own ideas and plans - can't wait to see how this pan out.  

 

More Afdawn/Grindstone associated companies have won awards. There must be eminent equity investments in a number of these companies that will catapult the Afdawn value. The share price is presently over-sold, the market still do not appreciate all the entrenched value. 

[Staghorn]

"Mr Jacques Groenewald (“Mr Groenewald”) has resigned from the
Company’s Remuneration Committee. Mr Groenewald will, however,
continue to serve as a director on the Company’s board of
directors.

Mr Chris Bull and Mr Stephen Roper have been appointed to the
Company’s Remuneration Committee."

 

Probably not a bad thing, now JG can focus more on operations...
 

[ajax]

AGM 12 December 09h00 in the morning;  hey hope we don't come!! Unsecured lending is an immoral model, take money from the poor at 30% p.a. and then distribute it to our friendly SMEs. The company has increased bad debts by 235%..... If they allocate Rights Issue funding to Elite; we will meet in court! They have done this on a previous occasion, some of the same Directors.  

[Shi]

The 27th is an estimated date. What are the odds of them missing the JSE's deadline of end of November - I find it very irritating when companies leave their results until the last possible moment.

[Fleetstroke1]

I think we will also learn how far they are with disposing of Elite the unsecured lending business. This will give management additional SME investment funding and with the Knife Capital know-how the company is set to fly. 

It is not appropriate to dispose of Elite at this point, ABIL's saga has created a gap in the market, therefore Elite has a place and an argument to be. ABIL will pull back, and if that happens Capitec will enjoy a smooth ride.

[ponzi]

I think we will also learn how far they are with disposing of Elite the unsecured lending business. This will give management additional SME investment funding and with the Knife Capital know-how the company is set to fly. 

[JR7800]

Well, at least there have not yet been a notice on 20%difference on previous year figures. So either it stayed the same (also an improvement compared to previous years increase in losses), or, and we all hope for this, an improvement.

 

Fingers crossed for the latter. 

 

I also think that they will ask for a name change approval at AGM. I think it could be a good thing, as we are trying to rid ourselves from the old AFDAWN problems/mismanagement/stigmas.

 

Hope to see all of you at the AGM, our one and only chance to speak our minds and make them count....

 

[ajax]

I am all doom and gloom but I really hope you guys are right. If not now then maybe never.... 

[battleship]

I do believe the expection after the announcement will be good and the price should move to about 12c.Anyone selling now at 8c after such a long wait would have defeated his objective.There is no reason for the announcement to be very good or darnright amazing.in this case it could rise to 16c or as Adw1 hopes,20c

[Mr_SA]

Noone wants to accept my 8c bid :-(

[ponzi]

I read this weekend that Afdawn has 10/20? investment opportunities that they have identified after a robust evaluation process. Will they announce something in this regard soon, before the AGM? Andrea Bommert and Keet van Zyl also tweeted that this is in the pipeline. After their huge successes to double the value of 10 companies over a 12 month period one can see the share price going to 20 cents plus before year end!!!  

[ajax]

Has anybody received notice of an AGM? I understand that a GROUP OF minority shareholders is planning to forward a motion that will put certain of the critical management activities in the public eye should the AGM go forward on the 12th December. They will be voted down but I think their plan is to get the discrepancies under the attention of the media and possible the JSE. 

[Staghorn]

Last year the interim results were announced on 29/11/13 and the trading statement(regarding the 20% difference from year before) on 22/11/14.

This means that we should hear whats been happening from Feb to this August within the next 10 days or so.The next 10 days should indicate what the results should be as info from within may start to leak out.

Results  August 2014 Interim estimated to be released on Thursday , 27 November 2014   AGM  Next AGM date: Friday , 12 December 2014