900 replies to this topic

[ponzi]

Watch this space

[Taurus]

My last and final say.........(for now)

The people we believe are experienced and connected enough to do great things take over a useless jse listed company

for peanuts.They must have a plan (and a following)

Its now just a waiting game.

My last words to this are: if you did not get your share you will have to sit at the fence and watch thing(s) unfolding.

Edited by Taurus, 15 October 2013 - 02:42 PM.

[Taurus]

Hey Taurus, just a quick math on my side: if they issue 500Mil shares and together with their existing shares, their market cap will be a billion runt if the share price hits R1. This from an existing market cap of R40 MILLION ???

 

This sounds like a story similar to Sherbourne Capital, that one has gone nowhere fast.

Well, right you are. But I look at the balance sheet with no leverage. If you do investment you use others people Capital ( and not the shareholders only ) to make more money to put to other peoples viable business. If I am not mistaken I have not spotted any leverage in the BS. And there is lots of cheap money out there looking for return. If they have viable business the cheap moneys are queuing in. I have recently been offered myself two million to invest in our business.

I feel that there is too much money arround and too little viable business worldwide. That's why you get next to nothing from you savings from the bank. 

[battleship]

My last and final say.........(for now)

The people we believe are experienced and connected enough to do great things take over a useless jse listed company

for peanuts.They must have a plan (and a following)

Its now just a waiting game.

[Shi]

My matchbox maths:

 

If the ship sails right they should achieve a 500 Mil Capital to invest in viable business with excess of 10 to 15% EBITA. Assumed they issue another 500 Mil shares and looking at a conservative sector PE of 10-20 I expect the share to settle at R1 over the next two years.

On the other hand systemic failure can blow it up and than it is Zilch. So at these levels a reasonable risk return situation if you invest capital you do not need to liquidize on call. The tale is the time they need to turn it into reality. My hope is that they turn it into a divident yielding venture that pays out twice a year to help me foot my increasing cost of living. The quick get rich system has never worked for me.

 

Hey Taurus, just a quick math on my side: if they issue 500Mil shares and together with their existing shares, their market cap will be a billion runt if the share price hits R1. This from an existing market cap of R40 MILLION ???

 

This sounds like a story similar to Sherbourne Capital, that one has gone nowhere fast.

[Taurus]

My take is as follows.

1  Company AGM went well ie same directors in place and company not going turtle

2 The rights offer will generate new capital.With mvdm and keet vz it should be well supported.

3 Like we believed before, they must have a plan.

4 The new top brass can achieve the number of shares they require

 

Essentially its just like we believed before ,but starting now,not 5 months ago

There are no short term fireworks.I cannot see them go below present level on this news.

I see it as a wonderful spec buy today but believe i will profit(boughr at 12c and 14c)In 4 months time.

I agree,

 

the main thing was the possibility to issue more share to transfer more ownership to management and reward them in the future. It was not to dilute the the shareholding and disown the shareholder. And even I do not know I am sure they have a solid plan. Why did they clean up ADW if they could have folded it and set up a new Company? Sooner or later it will reveal and the missing information will be there to make in tangible what they have formulated vaguely in their business model. 

[Taurus]

My matchbox maths:

 

If the ship sails right they should achieve a 500 Mil Capital to invest in viable business with excess of 10 to 15% EBITA. Assumed they issue another 500 Mil shares and looking at a conservative sector PE of 10-20 I expect the share to settle at R1 over the next two years.

On the other hand systemic failure can blow it up and than it is Zilch. So at these levels a reasonable risk return situation if you invest capital you do not need to liquidize on call. The tale is the time they need to turn it into reality. My hope is that they turn it into a divident yielding venture that pays out twice a year to help me foot my increasing cost of living. The quick get rich system has never worked for me.

[battleship]

My take is as follows.

1  Company AGM went well ie same directors in place and company not going turtle

2 The rights offer will generate new capital.With mvdm and keet vz it should be well supported.

3 Like we believed before, they must have a plan.

4 The new top brass can achieve the number of shares they require

 

Essentially its just like we believed before ,but starting now,not 5 months ago

There are no short term fireworks.I cannot see them go below present level on this news.

I see it as a wonderful spec buy today but believe i will profit(boughr at 12c and 14c)In 4 months time.

[ponzi]

The underwriters of the shares offer will indicate who the believers are

[saint1]

That is exactly what I expected. Difficult to predict the time that it's effects filter down to the bottom line but the people involved have background and I see more upside than downside in this venture. The value is rock bottom. Only insolvency would top that. Keeping in mind that the clean up is done already there is only one way to go and that is up. If you see that the board of directors is paid a R100.000 anualy per person for their positions I reckon that they are serious about the lean and cost effective structure.

great thx

[Taurus]

That is exactly what I expected. Difficult to predict the time that it's effects filter down to the bottom line but the people involved have background and I see more upside than downside in this venture. The value is rock bottom. Only insolvency would top that. Keeping in mind that the clean up is done already there is only one way to go and that is up. If you see that the board of directors is paid a R100.000 anualy per person for their positions I reckon that they are serious about the lean and cost effective structure.

[saint1]

Taurus, what's your take on this?

[ponzi]

From SENS...

"The company will divest from non-core assets and

operations. The essence of the vision is that Afdawn will no

longer focus on unsecured lending as a business model"

[Shi]

Taken from today's SENS:

 

"The recapitalisation of the company by way of, inter alia, a rights offer; "

 

more pain for investors 

[ponzi]

Trading shares is all about greed, fear and ignorance. Afdawn is no different.

[Taurus]

And who is to blame? Look for greed and you will see........

Attached Files

•  ShareholderADW2013Sept.pdf   401.18KB   22 downloads

[Taurus]

Some news at last.Wendy Luhabe is no more on the board.Does this imply that MVDM is still in charge and keet  is still around.No mention of information of lies ?As before they remain cagey on what appears very slippery ground.Totally incredible

 

I would assume that the situation that has arisen is not her responsibility since she joined the board after the misleading information was published. I should look up her number ad give her a call  

Attached Files

•  SENS_20131001_S336993.pdf   121.08KB   8 downloads

[battleship]

Some news at last.Wendy Luhabe is no more on the board.Does this imply that MVDM is still in charge and keet  is still around.No mention of information of lies ?As before they remain cagey on what appears very slippery ground.Totally incredible

[Taurus]

the volumes are still relatively small today(70 000)It does not represent a stampede.(friday was 4million)We should be seeing an approx 15-20 million change hands if the new directors get a chunk of the shares

However the dispute on the 7.87% shareholding concerning Vaal mac reflects 40 million shares. That's quite a chunk if you consider that maybe 90 million are held tranches smaller than 500.000. The deal must have been negotiated with a major stakeholder. I am just wondering who will take the consequences of this misinformation. A sens declaring that Vaal Mac has acquired the shares on the 27th of November which was obviously not the case which is only now almost a year later corrected. That seems pretty misleading information.

And by the way the "due course" in which the shareholders will be informed could stretch a little bit as I assume that this mess will cause some trouble. Well at least we can travel to the AGM on the 25th next month and find out ourselves.

You never know. May there is still a position for you on the board. 

[battleship]

the volumes are still relatively small today(70 000)It does not represent a stampede.(friday was 4million)We should be seeing an approx 15-20 million change hands if the new directors get a chunk of the shares