900 replies to this topic

[Staghorn]

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...

Edited by LWVi, 19 June 2014 - 02:07 PM.

[JR7800]

I know that they want to go into venture capital project, but why don't they get some skilled people to turn the micro-lending business around?

 

Treat it as a already revenue generating business (as they would a venture capital investment in another company), build it up, get it cleaned out and then sell it on.

 

The micro-lending business is tough at the moment but there is still lost of profit to be made with the right management. Get the micro-lending side to cover the operating cost( not referring to lavish offices/company cars and bonuses)  of AFDAWN and let the other investments be the money makers.

 

They guys must not drop us in this newly formed management/company direction. I believe in them that's why I am backing them with almost everything I got...

 

[battleship]

Not sure if if the Elite Group sale not happening is good news or bad?

[vlam]

SENS out this morning :/

 

Company : African Dawn Capital Ltd.

News Type : Official Announcement

Afdawn-disposal and cautionary withdrawn

Shareholders are referred to the SENS announcement dated 30 May 2014 (the Announcement), wherein shareholders were advised that the Company had entered into an agreement with Elite Group 1 Pty Ltd (the Purchaser or Elite Group 1), in terms of which, if successfully implemented, Afdawn would dispose of 100% of the issued shares, claims and assets in Elite Group (Pty) Ltd, a wholly-owned subsidiary of Afdawn to the Purchaser (the Agreement) (the Elite Group Disposal).

Shareholders are hereby advised that certain of the suspensive conditions as set out in the Announcement have not been fulfilled and the Agreement has lapsed. Accordingly, the Agreement is no longer of any force or effect and the Elite Group Disposal will no longer be implemented by the Company.

Cautionary withdrawn
Shareholders are referred to the cautionary announcement  included in the Announcement and are hereby advised that as  the Elite Group Disposal to Elite Group 1 will no longer be  implemented by the Company, caution is no longer required to  be exercised by shareholders when dealing in their securities.

Edited by vlam-hobbyist, 19 June 2014 - 08:48 AM.

[Fleetstroke1]

Stick it out buddy, good things will come... the guys have not started any moves on the grand plan yet... don't lose hope.

[Devonvest]

I definitely became complacent and burnt my fingers here. Now I am forced to stay in and hope the turn around doesn't take years to happen. I'm just hoping it doesn't delist.

[ponzi]

Has the Knife Capital new fund been fully subscribed yet? Will they do investments before then? Very uncertain. 

[Magnet]

Afdawns will recover. My patience has run out for BSS - out today at .59.

Sent from my GT-I9500 using Sharenet Sharechat mobile app

[yusufm]

Trades going through at 9c

 

I still prefer to trade the price rather than invest at present in this one. I would wait for the 'turnaround' to actually occur before investing. BSI Steel on the other hand is still baffling me 

[Queen B]

Trades going through at 9c

[ponzi]

Shareholders rely on the Afdawn/KC team and their views and actions. A small company cannot have differences and possible conflicts. The share price will over time mirror the market sentiment.    

[battleship]

The share price confuses me.

Firstly the feb14 results were terrible,but the new business way was not started and the money from the rights issue had not arrived at that point.

The resignation of mvdm was unexpected and the reasons given Family conflict of interest etc seem unlikely.his resignation is not good news.However the anticipated

new business strategy with the KC people is happening as per expected.The fall from 20c to 10c seems too harsh.Afdawn need to reassure shareholders

all is good or state what positive moves have happened.The other issue is if mvdm keeps or sell his huge stake in afdawn.This too can affect the price.

[Devonvest]

So, the stock price...ouch.

 

Are we headed down to 8 or 9 level again?

[ponzi]

Look at Taurus' comments, the new business will establish value. 

[Staghorn]

When the backdoor listing is more clear things will return to normal. 

Could you elaborate a little more on this...?

[ponzi]

How about the Here be Dragons fund from Mark Shuttleworth coming into play - look at the KC website? The new Chairman will be a clear indication. Will we soon see a KC man as CEO? 

[ponzi]

When the backdoor listing is more clear things will return to normal. 

[Taurus]

A look at their website www.afdawn.co.za explains most of what is going on. The fluctuation in share price is not surprising. Adw is a complete new business. It is KC's business model. Last they have to do is dump the property out of their balance sheet and maybe re-brand the current shell. Although they did some adjustments it seems that they can't avoid to carry the baggage of AFDAWN's history.

Unfortunately I could not find any public data on the profitability of KC so it is still to speculate heavily on the share price. 

 

[battleship]

Things were going to plan.The microlending business is in the process of being sold for what we thought it was worth.

The announcement of mvdm comes as a surprise and the announcement was rather cold.The important question is ,how valuable was mvdm to afdawn?I believed he was valuable and so the news does not look good.However, the new directors look very capable with or without mvdm.To me it reads almost as a hostile situation.mvdm covered the rights offer,so I do not believe he will let the value drop like this.

more info is needed,but essentially little has changed.We await afdawn to announce new purchases,products,vision etc.

The present 12c is on a small volume and the share price should go north again

[JR7800]

The problem is when it is your blood in the street...

 

I have been involved in the trading of ADAWN shares since the original listing when it was still ABC Cash Plus and they were just micro lenders.

 

I was one of the original franchise branches but bought out my shop from them very soon after the listing when their troubles started. I finally sold my original ABC Cash shop last year, almost 15 years after opening the doors.

 

I know the tainted history of AFDAWN well.

 

What I am not so sure of is the potential/current revenue streams regarding Knife Capital.

 

Does any one have any idea what the companies current financial look like? And if they at least are currently profitable?

 

I see this purchase of Knife by Afdawn as a backdoor listing, maybe we also still see a name change in future.

 

I am just wondering how long before Knife capital profits (if any) will start to reflect in the dismal financial figures.

 

Hope we can all still make some profit from our shares....