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AFDAWN

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#881 Taurus

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Posted 29 May 2013 - 03:20 PM

Wait for a definite turn-around that is shown in their results and not in promises, currently its a big punt till proven otherwise.. Too much such companies making such promises! That's my opinion..

If you look at the caliber of people on the new board one should have more confidence. To me the whole thing looks like a reverse take-over. Then there is KnifeCapital in the background to be injected and maybe some more leftovers from the HBD Shuttleworth imperium. I just can't believe that the brains that suddenly appear on the board of Afdawn do this when there is no perspective.

I will buy now before it will be suspended from trading.......


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#882 Taurus

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Posted 29 May 2013 - 01:50 PM

Well, here we go. Some changes. Now I wait for some capital to be invested. Leverage. The share is now with a negative PE. Can't get much cheaper unless the start diluting and issue more shares but that makes no sense to me. If you want to collect capital from investors sure a penny stock has not the right reputation to do that. They must restructure to cross the R1. Maybe buy some of the shares back cheaply and issue options for staff and management.

But I will wait to see what happens and get in when it starts climbing through the 20 cent barrier. 

African Dawn Capital Limited
Incorporated in the Republic of South Africa
(Registration Number:1998/020520/06 )
JSE share code: ADW
ISIN: ZAE000060703
(“Afdawn” or the “company")
CHANGES TO THE BOARD
In terms of paragraph 3.59 of the Listings Requirements of the JSE Limited, the board of Afdawn wishes to advise of the following changes to the board of directors which are in line with the ongoing operational and strategic repositioning of the company. This is another step towards the new announced vision of becoming an active investment holding company and these appointments are building capabilities to enable the vision. The Board will pursue a re-engineering phase that will see the establishment of a platform based on capabilities, resources and entrepreneurial acumen. The Board members have the strategic skills to evaluate proposals of the acquisition of new investments, consider management’ endeavours towards adding value to these investees as well as the strategic ability needed to guide the tactics of unlocking of value.
APPOINTMENTS TO THE BOARD
Afdawn wishes to announce the following appointments:
WENDY (“WENDY”) LUHABE as independent non-executive director, effective immediately and who will be appointed to the audit committee of the company.
Wendy is a social entrepreneur activist who has extensive board experience in Corporate Strategy, Marketing, Corporate Governance and Human Capital Development in both the private and public sectors. Wendy was recognised by the World Economic Forum in Switzerland as a Global Leader for Tomorrow, the Osaka Junior Chamber in Japan as an Outstanding Young Person and by Unisa Business School in South Africa for Leadership in Practise. She was featured in a Sunday Times survey as one of South Africa’s 20 most powerful women she was also honoured as one of 50 Leading Women Entrepreneurs of the World. She is a recipient of 3 honorary doctorates and a member of the International Council of Business Women Leaders initiated by Ms Hilary Clinton, on the Economic Empowerment of Women. She is currently an advisor to The Big Break Legacy TV production, an initiative to make South Africa an Entrepreneurial nation. She is also on the Supervisory Board of the IMD business school in Lausanne, Switzerland
VANYA (“VANYA”) LESSING as independent non- executive director, effective immediately and who will be appointed to the audit committee of the company.
Vanya is the CEO of the Sure Travel Group; she is also the Vice-President of (Association of South African Travel Agents). In this position Ms Lessing was responsible for looking after the broader interests of the travel industry, liaising and negotiating with many Government and world body travel organizations. This was
a time of change management for the travel industry, in that a new business model was introduced. Ms Lessing led travel companies and suppliers through a series of sensitive negotiations, resulting in a successful transition to the new model. Board positions held during this period were ASATA, Tourism Business Council of South Africa, THETA (now Cathsseta) and the United Federation of Travel Agents Associations (global body) Vanya has extensive experience in collaboration interaction with related SMEs and expediting turn-around strategies. The Sure Group has more than 100 franchisees. Her strong negotiating abilities will bring ‘on the ground’ expertise to the Board.
KEET (“KEET”) VAN ZYL as independent non-executive director, effective immediately.
Keet is a ‘Venture Catalyst’ with extensive high-growth investment experience. He structured various private equity funds in Southern Africa for a US fund-of-funds investor and worked in growth finance at industry-leading companies such as Procter & Gamble, Investec Bank and Here Be Dragons (HBD) Venture Capital – the fund managers behind SA internet billionaire Mark Shuttleworth's successful venture capital fund. He co-founded growth equity fund manager: Knife Capital (where he is a partner and board member of various portfolio investments) to fund and support knowledge-enabled entrepreneurs. Keet is passionate about building the early-stage funding ecosystem in Sub-Saharan Africa. He co-founded business angel investment group AngelHub as well as the new Grindstone business accelerator that will assist SA technology SMEs to become sustainable and fundable. Keet
has expansive experience in the total Venture Capital value chain and will bring VC experiences and skills that will reduce risk and improve desired outcomes in line with the new vision of the company. The appointment of Keet van Zyl also establishes a bilateral relationship with Knife Capital that will result in strong operational synergies between the entities.
The board wishes Wendy, Vanya and Keet well in their new roles with the company. The additional technical and financial skills which they bring will benefit the company as it progresses in implementing its growth strategy.
RESIGNATION FROM THE BOARD
Mrs Lynnette (“Lyn”) Taylor, resigns as an independent non-executive member the board effective immediately.
The board wishes to thank Lyn for her valuable contribution to the board and the company during her tenure on the board.
Johannesburg
29 May 2013
Designated Advisor
Sasfin Capital
(a Division of Sasfin Bank Limited)

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“In order to know how good you are at something requires exactly the same skills as it does to be good at that thing in the first place” 


#883 Taurus

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Posted 29 May 2013 - 12:21 PM

Well, here we go. Some changes. Now I wait for some capital to be invested. Leverage. The share is now with a negative PE. Can't get much cheaper unless the start diluting and issue more shares but that makes no sense to me. If you want to collect capital from investors sure a penny stock has not the right reputation to do that. They must restructure to cross the R1. Maybe buy some of the shares back cheaply and issue options for staff and management.

But I will wait to see what happens and get in when it starts climbing through the 20 cent barrier. 


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“In order to know how good you are at something requires exactly the same skills as it does to be good at that thing in the first place” 


#884 Goliath

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Posted 28 May 2013 - 10:20 PM

Wait for a definite turn-around that is shown in their results and not in promises, currently its a big punt till proven otherwise.. Too much such companies making such promises! That's my opinion..
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#885 Taurus

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Posted 28 May 2013 - 11:56 AM

Please guys, help me here...I am looking for some more meat. Has anybody the current shareholder distribution and some info on the background of the new management. I have seen the past and that was bleak but I can't believe some new people getting on board without a perspective of a lucrative turnaround.

 

Joost


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#886 Taurus

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Posted 28 May 2013 - 07:56 AM

Dear Members,

 

I observed the latest development in Afdawn. It seems that the share has bottomed out and if I read their report correctly there are no further hidden liabilities.

I have tried to gather some more information than the the statement "...change the vision of the company to that of an active investment holding company, acquiring shareholding in entrepreneurial companies, with a strong innovation drive and which are in proven growth

phases, by enhancing the capabilities of these entities to accelerate long term sustainable growth." but it was thin. I did not want to pick up the phone and waste their time before I have tried every other avenue.

If somebody here is closer and can give me more insight it would be great. My feeling is that if they have really turned around and their intentions are upright this is a good opportunity to get on board.

 

Joost

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“In order to know how good you are at something requires exactly the same skills as it does to be good at that thing in the first place” 






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