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#41 JR7800

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Posted 22 May 2017 - 08:07 AM

NotsoIntelligent Investor - I am not placing my faith in saving the company in KC. However, as I am dealing with high nett worth individuals on a regular basis, they are always looking for ways to expand and grow their wealth. With KC obtaining their SARS section 12J VCC it means that they could possibly attract more investments to be invested in new startups with the potential of great returns in future. VC investment is a long term play.

 

So, I still think that KC can provide future profits. I also noticed a while back that  FlightScope, the global developer of 3D Doppler ball-tracking radar for sports, has bought out its venture capital partner. As I read it, the investment was not made by KC but by HBD. KC only manged the investment. SO I do not think AFDAWN will benefit from the deal. I do agree that there is a lot of work still to be done by KC and AFDAWN to exactly show to the shareholders what investment are actually done by KC and which investments are only managed. This will give a better understanding to shareholders as to what benefit the investment is to AFDAWN shareholders, be it potential large returns via exiting of investment or just a small management fee on the managing of the investment for a 3rd party.

 

So we are back to the old issue of transparency. This is where management lacks big time. I am also invested in Jubilee Platinum. This company have also gone through a rough patch with shareholders left confused and looking for answers. Their management team realised that their shareholder needs to be informed on what is going on in the company and how they are managing their issues and business as it is the shareholder who will need to fund future investments. Look at their sens, brilliant. Although the business is slowly turning around, at least we as shareholders are not left in the dark.

 

I would really like to hear what the so called large investors have to say about their additional losses on the share consolidation. But as I was told during the voting session, it is easier to apparently to grow the share price from 40c to R4 than to get it back form 1c to 10c, both are 10x, I know but for some reason it feels easier to take a punt at 10c than for R4 on a AFDAWN share...

 

So, to sum up. KC will not be the savior but with right investment and transparency can add value in long run.


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#42 NotsoIntelligent Investor

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Posted 19 May 2017 - 06:28 PM

With respect JR7800, on what do place your faith in KC? I was initially fooled by the smoke and mirrors as well, but once you peel back the layers of that onion, you release its rotten to the core...

By release, I mean realise...


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#43 NotsoIntelligent Investor

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Posted 19 May 2017 - 06:27 PM

Wow - so AFDAWN is exactly were it was 3-4 years ago. Have not heard anything from KC lately (although I still believe that they can add value).

 

What about the money from the property sale? Wasted on salaries again or used to pay SARS?

 

I was basically made to look the fool in seeing the value of a share consolidation (previous posts of mine), and at last years AGM and vote on resolution to consolidate I was there and voted against it.

Reasons for consolidation: easier to do deals and no big swings in daily share price (percentage wise).

 

The share is going back to 1c, again. I am for a share consolidation if you have all your issues sorted out and is ready to do new and profitable business, not before then.

 

Again, shareholders lost more money via consolidation and I would like to find one person who can convince me otherwise.

 

Take the Elite and build it into a successful micro-finance player. There are many opportunities out there. Even consider to get government involved (PIC) to use this as vehicle to roll out state loans as reduced rates, even if only to state employees during test it.

 

I am sure AFDAWN management can come up with a business plan to make money, they have the experience.

 

Don't know anymore.....????

With respect JR7800, on what do place your faith in KC? I was initially fooled by the smoke and mirrors as well, but once you peel back the layers of that onion, you release its rotten to the core...


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#44 NotsoIntelligent Investor

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Posted 19 May 2017 - 06:24 PM

So the BIG Elite deal is formally off the table after it was announced as a done deal and that the buyer had fulfilled their obligations.

SARS negotiations are stil ongoing; really?  

Are we surprised? I'm certainty not. The level of incompetent management that both AD and KC are riddled with is reflected in this latest announcement.  Ajax, I will be in touch!


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#45 ajax

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Posted 19 May 2017 - 01:57 PM

So the BIG Elite deal is formally off the table after it was announced as a done deal and that the buyer had fulfilled their obligations.

SARS negotiations are stil ongoing; really?  


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#46 Ifnotwhynot

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Posted 18 May 2017 - 07:23 PM

Wow - so AFDAWN is exactly were it was 3-4 years ago. Have not heard anything from KC lately (although I still believe that they can add value).

 

What about the money from the property sale? Wasted on salaries again or used to pay SARS?

 

I was basically made to look the fool in seeing the value of a share consolidation (previous posts of mine), and at last years AGM and vote on resolution to consolidate I was there and voted against it.

Reasons for consolidation: easier to do deals and no big swings in daily share price (percentage wise).

 

The share is going back to 1c, again. I am for a share consolidation if you have all your issues sorted out and is ready to do new and profitable business, not before then.

 

Again, shareholders lost more money via consolidation and I would like to find one person who can convince me otherwise.

 

Take the Elite and build it into a successful micro-finance player. There are many opportunities out there. Even consider to get government involved (PIC) to use this as vehicle to roll out state loans as reduced rates, even if only to state employees during test it.

 

I am sure AFDAWN management can come up with a business plan to make money, they have the experience.

 

Don't know anymore.....????

 

I think the ability to make money and the actual will to do so are two different things... It begs the question: what on Earth is going on in this company?


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#47 Ifnotwhynot

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Posted 18 May 2017 - 07:21 PM

Investigation? he he he he.... They told the media in 2015 'we will announce our latest plans very soon'. After a number of fake Elite deal announcements (SENS) they still manage to string the JSE, Advisors, shareholders and media along. In Jan 2015 JG also stated that it will soon be clear how profitable Grindstone/Knife Capital is....we are still waiting but then again soon can be in another 2 years time. :ph34r: A listed company with no communication to stakeholders at all....Someone should take control of the shell, fire all the crooks and create some value for shareholders! Where are all you entrepreneurs????    

 

Right here! But to be honest, it looks like it may be easier to just sack the board, liquidate the remaining assets and close up shop!


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#48 JR7800

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Posted 18 May 2017 - 08:56 AM

Wow - so AFDAWN is exactly were it was 3-4 years ago. Have not heard anything from KC lately (although I still believe that they can add value).

 

What about the money from the property sale? Wasted on salaries again or used to pay SARS?

 

I was basically made to look the fool in seeing the value of a share consolidation (previous posts of mine), and at last years AGM and vote on resolution to consolidate I was there and voted against it.

Reasons for consolidation: easier to do deals and no big swings in daily share price (percentage wise).

 

The share is going back to 1c, again. I am for a share consolidation if you have all your issues sorted out and is ready to do new and profitable business, not before then.

 

Again, shareholders lost more money via consolidation and I would like to find one person who can convince me otherwise.

 

Take the Elite and build it into a successful micro-finance player. There are many opportunities out there. Even consider to get government involved (PIC) to use this as vehicle to roll out state loans as reduced rates, even if only to state employees during test it.

 

I am sure AFDAWN management can come up with a business plan to make money, they have the experience.

 

Don't know anymore.....????


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#49 ajax

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Posted 13 May 2017 - 08:17 AM

Investigation? he he he he.... They told the media in 2015 'we will announce our latest plans very soon'. After a number of fake Elite deal announcements (SENS) they still manage to string the JSE, Advisors, shareholders and media along. In Jan 2015 JG also stated that it will soon be clear how profitable Grindstone/Knife Capital is....we are still waiting but then again soon can be in another 2 years time. :ph34r: A listed company with no communication to stakeholders at all....Someone should take control of the shell, fire all the crooks and create some value for shareholders! Where are all you entrepreneurs????    

 

 


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#50 Ifnotwhynot

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Posted 07 May 2017 - 06:52 PM

There's investigation that was done by FM journalist his/her surname is Maake if my memory still remember well. It was about AFDAWN minority shareholders being treated unfairly by the board. It was 2015 when this story was under investigation but it seems the journalist lost interest into it.

 

Thanks for the info! Maybe we should all club together and voice our concerns at the next AGM...

 

I'd be willing to go.


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#51 Pratlou

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Posted 07 May 2017 - 06:18 PM

There's investigation that was done by FM journalist his/her surname is Maake if my memory still remember well. It was about AFDAWN minority shareholders being treated unfairly by the board. It was 2015 when this story was under investigation but it seems the journalist lost interest into it.

Edited by Pratlou, 07 May 2017 - 06:19 PM.

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#52 Ifnotwhynot

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Posted 07 May 2017 - 05:31 PM

What happened to the story that was being investigated by financial mail journalist?

 

Sorry, a bit out of the loop here - which one?


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#53 Pratlou

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Posted 07 May 2017 - 04:47 PM

What happened to the story that was being investigated by financial mail journalist?
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#54 Ifnotwhynot

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Posted 07 May 2017 - 04:45 PM

This is really an indication of the JSEs inability or lack of interest to 'control' a company that uses the JSE and SENS to misappropriate shareholder funds. The Board members and especially Jacques Groenewald the Executive Chairman are ignoring (minority) shareholders and when they communicate it is based on rubbish and disinformation. The again they the Board got a thumbs up from shareholders on various AGMs! So we as shareholders must accept the status quo..

 

 

I see this one continues to limp on...

 

 

Isn't it time for an upbeat SENS announcement? New deal? New plan? Or whatever the Board can fabricate...   

 

 

Surely if the JSE is incapable of assisting us, we should sign over proxies to a collectively appointed representative and be heard!


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#55 Ifnotwhynot

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Posted 07 May 2017 - 04:32 PM

Hi All,

 

Long time lurker, just registered.

 

Just as an aside, if we are all resolved that we as minority shareholders are essentially being ignored, and we're sure that the company is not being managed correctly, why not club together and do something about it?

 

If you look at the shareholder analysis of the company, individuals constitute something like 57% of the shareholding.

 

We could award proxy to a central representative and make ourselves heard.

 

Maybe I'm just being optimistic - thoughts anyone?

 

 


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#56 ajax

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Posted 05 May 2017 - 12:14 PM

This is really an indication of the JSEs inability or lack of interest to 'control' a company that uses the JSE and SENS to misappropriate shareholder funds. The Board members and especially Jacques Groenewald the Executive Chairman are ignoring (minority) shareholders and when they communicate it is based on rubbish and disinformation. The again they the Board got a thumbs up from shareholders on various AGMs! So we as shareholders must accept the status quo..


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#57 JR7800

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Posted 25 April 2017 - 02:02 PM

Has anyone heard anything from anyone recently?

 

I am not sure what Shareholders will be advised of any further developments in due course means to the AFDAWN directors or the advisers PSG Capital Proprietary Limited. From this notice date 30 Nov 16 (below) till now is almost 5 months.

 

How long is in due course? Reasonably?

 

Is this deal still going ahead? What about all the promises at AGM yet again?

 

​How has the share consolidation brought about business ventures/deals or realised  any form of shareholder value?

 

Any comments?


UPDATE OF ELITE TRANSACTION

Shareholders of Afdawn are referred to the announcements released by
the Company on SENS on 7 December 2015, 22 January 2016 and 28 June
2016 (“Transaction Announcements”) relating to the proposed disposal
by Afdawn of its 100% shareholding in Elite Group Proprietary Limited,
African Dawn Property Transfer Finance 1 Proprietary Limited and
African Dawn Property Transfer Finance 2 Proprietary Limited,
currently wholly-owned subsidiaries of Afdawn, to Dzothe Finance
Solutions Proprietary Limited (“Dzothe”) (“Elite Transaction”) and to
the Circular issued by the Company on 16 September 2016 relating to,
inter alia, the Elite Transaction (“Circular”).

Shareholders are advised that Dzothe is in breach of its obligations
in terms of the Elite Transaction as it has failed to pay a portion of
the purchase consideration to Afdawn in accordance with the terms as
set out in the Transaction Announcements and the Circular.

Notwithstanding the above, Shareholders are advised that Afdawn and
Dzothe are in the process of negotiating in order to rectify the
breach.

Shareholders will be advised of any further developments in due
course.

30 November 2016

UPDATE OF ELITE TRANSACTION

Shareholders of Afdawn are referred to the announcements released by
the Company on SENS on 7 December 2015, 22 January 2016 and 28 June
2016 (“Transaction Announcements”) relating to the proposed disposal
by Afdawn of its 100% shareholding in Elite Group Proprietary Limited,
African Dawn Property Transfer Finance 1 Proprietary Limited and
African Dawn Property Transfer Finance 2 Proprietary Limited,
currently wholly-owned subsidiaries of Afdawn, to Dzothe Finance
Solutions Proprietary Limited (“Dzothe”) (“Elite Transaction”) and to
the Circular issued by the Company on 16 September 2016 relating to,
inter alia, the Elite Transaction (“Circular”).

Shareholders are advised that Dzothe is in breach of its obligations
in terms of the Elite Transaction as it has failed to pay a portion of
the purchase consideration to Afdawn in accordance with the terms as
set out in the Transaction Announcements and the Circular.

Notwithstanding the above, Shareholders are advised that Afdawn and
Dzothe are in the process of negotiating in order to rectify the
breach.

Shareholders will be advised of any further developments in due
course.

30 November 2016

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#58 JR7800

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Posted 20 April 2017 - 08:20 AM

Anyone heard anything lately?

 


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#59 NotsoIntelligent Investor

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Posted 13 March 2017 - 12:12 PM

I see this one continues to limp on...


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#60 ajax

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Posted 15 January 2017 - 12:32 PM

Isn't it time for an upbeat SENS announcement? New deal? New plan? Or whatever the Board can fabricate...   


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