900 replies to this topic

[ajax]

Elite Group is apparently still in the stable? Senior management is not available and caretaker manager left office early? 

[ajax]

Elite Group is apparently still in the stable? Senior management is not available and caretaker manager left office early? 

[ponzi]

So true, maybe they know things that we don't?  

[Fleetstroke1]

Unfortunately the share price has nothing to do with what is happenning within this company. Its just the "share buyers/sellers" who mess things up for the true investors. They were there when the share was 8c and still there when it went up to 20c and are still there at 8c now. What they are doing is that they buying more when it goes to 7,8,9 cents to build on their positions. The "share buyers/sellers" will come and go...... Since the rights issue I have not seen the directors selling... there must be something we don't know. 

[ajax]

I am new on Afdawn and bought 6 weeks ago at 16 cents per share - yes eina! This was on the back of a cautionary, Elite transaction and the Rights Issue and some positive media. Maybe I have not done enough homework! When last did Knife Capital bought anything? What happened to Moyo under their beat? Are they successful in raising the fund that they are referring to on their Web site. Who is managing Afdawn?      

[JR7800]

I think LWVI make some valid points, especially about the shareholders going to their offices and demanding some answers (tempting).

 

I think every shareholder must at least make an effort to attend the next shareholders meeting and then we can demand answers.

 

This newly formed company/management must not disappoint, I think I still my grandpa's flame-thrower somewhere,

 

Come on management you can do it..

[Staghorn]

I admit this is painful, but there must be an explanation and I would really like to hear it…management does owe us that!

 

“Afdawn is not planning to execute its stated plans” – I am working in the corporates and executing and putting these deals together can take forever.  A principle agreement or plan is one thing, but the actual executing with all the conditions, ring-fencing, etc etc that goes with it, is necessary to protect your own.  This can become very complex and time consuming.

 

“Not the first time that they have raised funds and not following through on promises” – True, I have owned ADW shares since 2005/6 and that is unfortunately the track record, however the previous "suspect" executives of ADW are flushed out and on face value the KC bunch have it all to make this a success.

 

Looking at this stone cold, I cannot think that KC would have got involved with ADW if there was not some sort of advantage/incentive for them.  The KC bunch has a good reputation (it seems?!) and KC was a good business on its own (it seems?!), …why would they waste all that with/on ADW?

 

I am holding my shares.

 

Shouldn’t we pull up to their offices and demand answers? They are not far from my office…  

[ponzi]

At any price, a bargain.

[ponzi]

Shareholders are not being considered, this is a ridiculous situation. Not the first time that they have raised funds and not following through on promises. Who is pulling the strings? This is definitely a KC take over - good or bad. Afdawn is not planning to execute its stated plans. Shareholders are and should be very nervous. My few shares are up for sale....     

[ponzi]

Shareholders are not being considered, this is a ridiculous situation. Not the first time that they have raised funds and not following through on promises. Who is pulling the strings? This is definitely a KC take over - good or bad. Afdawn is not planning to execute its stated plans. Shareholders are and should be very nervous. My few shares are up for sale....     

[Taurus]

Eish.... what is Afdawn doing? I am sure that there is a story behind the story. It was in the media a couple of months ago that this was in actual fact a reverse take-over by KC to do a backdoor listing. Can we expect some transparency from management, what are they doing with the funds from the Rights Issue?    

Well as stated recently on Afdawn website: "Afdawn acquired Knife Capital in March 2014 to capacitate the group to execute its vision of investing in innovative entrepreneurial companies"

 

lt would be beneficial if at some stage management stands up and straightens out the chaos of the current situation. It looks more like Knife Cap took over Afdawn since everybody else of the former Afdawn seems to be running for cover.

 

seems ridiculous at the moment. I'd love to get a recent shareholder distribution to see who is who in the zoo.

[ponzi]

Now what is next level - 5 cents per share? 

[OreoRaider]

I'm thinking the exact same....

[ponzi]

Eish.... what is Afdawn doing? I am sure that there is a story behind the story. It was in the media a couple of months ago that this was in actual fact a reverse take-over by KC to do a backdoor listing. Can we expect some transparency from management, what are they doing with the funds from the Rights Issue?    

[battleship]

Things are not making sense.MVDM pulled out from afdawn for something like a conflict with his family financial interests conflicting with afdawn.He still runs VMI venture partners which is similar to what we think afdawn is doing.The joining forces of MVDM and KC was very positive.MVDM's conflict of interests  makes no sense as he knew what he was doing.He was in charge.KC's weak patch up announcement was not taken seriously by anyone.KC must urgently restore credibility on their move forward.Lionsden mentions a hostile takeover?Lets be honest, the mood is very cold.

[ponzi]

Why the mushroom treatment? Is there a delisting or hostile take-over in the making?

[Fleetstroke1]

Back to 8c today

I should have grabbed my profit at 20c and bought again at 8c

I know you are not a doctor, but just have a little patience it will turn around... 

 

 

[Queen B]

Back to 8c today

I should have grabbed my profit at 20c and bought again at 8c

[ponzi]

I wonder who walked away from the deal and what the implications are? Maybe management should use the opportunity to show their turnaround or venture investment management skills by focussing on Elite? For me I am expecting the 'KC entrepreneurial team' to do their magic with Elite. 

Will there be management changes at Elite after all this was a MBO that went wrong, is it prudent to keep the same Elite management to run the company.   

[Goliath]

It is/was part of the plan to sell Elite, so I reckon they will still sell it to the next taker that comes along. Alternative is to turn it around, but that will take time...

 

I also believe that the new management are a good bunch - they've got a good entrepreneurial track record and I also back them (not with all that I've got, but with some that I've got  ).

 

BUT...to be honest the few SENS's that came out the last month almost let one with the impression that something is not "cool runnings" in/amongst management. I actually hope that management will come out and calm shareholders down and just confirm their plan for the company again...

 

I still believe there is great potential here...

 

As Hendrik said on the other thread, this is currently just speculative/gamble at the moment(worse than that he said!), financials speak louder than promises and potential.. but as they are in turn around and new management I'm also willing to take a small stake in but if you put everything in with current info out there you asking for trouble!