900 replies to this topic

[ponzi]

Vanya is a very professional Director with hands management experience and the CEO of the Sure Travel Group. Their aim was to establish a springboard for Grindstone which I have heard from the previous FD as they told him so and at that stage JG denied it but later after the fact endorsed it. They will milk the company until the liquidity dries up completely.    

[battleship]

Hi Ponzi

Am curious what Vanya (a property expert)  actually did for Afdawn.We never heard a peep from or about her.But then again as far as we know the entire workforce  could have been on paddle boards drinking champagne, as nothing indicating work done was told to us.(except the minor involvements in other peoples deals) 

 

It looks like they put our R10 bar and MvdMs money  to improve KC and then will let adw die away.

 

I hope this is not so!

[ponzi]

Now this is surely the endgame. A year ago they were consolidating the costs now they foresee the FD moving back to KC? They will not be able to appoint a credible FD at AD. Assets are channeled to the KC vendors and Andrea Bohmert is a shareholder in Taxtim being subsidised by Afdawn. This is obvious as with other actions a clear indication that KC is being repositioned as unaligned with AD.  

 

Although on this forum I have been very critical of the AD Board I have great sympathy with Vanya Lessing and a lesser extent Hester Hickey two of the non-executives. Jacques Groenewald and the other executive Board members strung them along. Stephen Roper the other non-executive was part of the KC DD blunder (manipulation). 

 

There are so many discrepancies and seemingly 'don't care less' actions that in an ideal world they would be held responsible for their actions.     

 

There is a case to be made that the Board did not fulfil their fiduciary duties –

in SA company law these are duties based on the concept of good faith, and are owed to the company as a result of the control that directors exercise over the assets of the company, and the power that is held by such directors to act on behalf of another (the stakeholders). Fiduciary duties are non-negotiable and cannot be waived in any manner or form. 

 

 

They clearly acted only on behalf of the Knife Capital vendors. 

[ajax]

Battleship on the head is this what one can expect from a listed entity under JSE 'control'? 

[battleship]

Looks like KC conned ADW in investing R10 bar and then then treating ADW as a nothing but making it pay for non reached goals and even poaching Eben v Heerden , leaving Adw as a spineless useless jellyfish which will dry up.

[ajax]

Anybody recognize this company?

 

Sens re KC transaction; "Knife Capital is an ideal fit for Afdawn in light of its new strategic vision. Knife Capital has an envious investment record that includes successful international exits. (they now agree this is not so)The Knife Capital team has proven investment and growth enabling skills diversified across all investment phases. Knife Capital has a deep local and international network in the investment industry and of value-adding service providers. The structured and disciplined investment process and the business building capabilities of Knife Capital will ensure the required return on capital is achieved by Afdawn."

 

 

[LiarLiar]

Hi everyone - indeed - please send through your details and encourage all other shareholders that you are aware of to do the same.  In due course, the plan of shareholder action will be communicated to all shareholders as the success of the plan will require significant support. 

 

Regardless of any SENS announcements issues, existing shareholders have lost complete faith in the AD board and indeed with KC and all of its purported achievements.  Shareholders are not likely to support any further AD initiatives unless the board is replaced, and all on the non-performing assets disposed of.   

[ajax]

It is obvious that KC is milking all that they can get from AD. AD is giving up the one 'attractive' element of the transaction with KC sharing in the carrying upside of the HBD investments. This will now be seeded to the KC vendors. So what is left? Jacques Groenewald and the AD Board messed up badly. 

 

Very interesting that KC will establish a 'fund' to invest in companies, three years ago they tried the same with no success. Then in future they foresee that AD will be their primary source of funding - seriously!!

Another scheme with no chance of success. 

 

Somebody urgently stop the rot. shareholder value will be destroyed even more. (if that is possible)

 

Let u all join LiarLiar as it seems that he has a plan.

[ponzi]

Adding insult to injury. For not performing they (KC) get even more from Afdawn. It is now time to act. 

[julzM]

Afdawn sens update,wtf?

[Eagle eye]

Stephanus Botha_stephanus304@gmail.com/ prost@thabanet .co. za<br /><br />Sent from my SM-N910C using Sharenet Sharechat mobile app<br /><br />

[LiarLiar]

Will all shareholders that view this forum please direct message me with your name and email address?

[sharechat]

swallowed my bitter pill at 4c. 

never felt so dirty after a big bath before. - glad i did!!!

 

as we say here in SA - EISH!

[LiarLiar]

The share has now been suspended... Now the fun and games start... Watch this space!

[ajax]

Taurus, they are not open to suggestions, there is still money in the bank so no reason to change the status quo.    

[LiarLiar]

For their reputations to have gone down the drain, they would have needed some form of reputation and track record to begin with, which they simply don't have.  This is the fundamental AD problem - the entire management structure are incompetent.  All of this bodes well though for the impending shareholder action to try and salvage whatever is left at AD...  

[ajax]

Ya well great remember the' any day now' promises.... I can see reputations of the whole Board going down the drain. 

[ponzi]

So as predicted SARS declined the Article 200 settlement, I guess because they had the funds from the Rights Issue to pay SARS. The only motivation for a new application is that the company can now not pay SARS. What this mean is that the financial position of the company has deteriorated to such an extent from the previous application.

 

We will once again go through the cautionary stages (SARS application?) and reasoning for not being able to expedite their vision. Also impacting on the motivation for the KC acquisition and Rights Issue.

 

The BIG question is why have they made a fictitious cautionary and why did the Board approved that and why did their Corporate Advisors agreed with the cautionary?

 

Come on Board members you owe it to the Shareholders!  

[Taurus]

lies have short legs. Soon the truth will reveal.

[ajax]

Today a misnomer, things are not what they seem to be. I really hope that they actually present their AFS tomorrow. I had sympathy for the non-executives but now I think they are brought this on themselves! I am still very interested to know who is actually running Afdawn? Is it JG or is he just a puppet on KvZ string?