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#21 HighRiskGain

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Posted 28 February 2017 - 02:04 PM

Confused  !!!

The NAV was last reported at 37.5c 

If anything it is in a short squeeze and should gravitate back to 40c

 

I might be wrong though ..............

 P/E (Price/Earnings) 1.74  Price/NAV 0.87
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#22 Alpha 101

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Posted 24 February 2017 - 07:18 PM

Soletrader - no they cannot due a rights issue - at the AGM  in November it was voted down (75% against a rights issue)

 

Magnet - you cannot write the Prefs to Zero - it will create Legal Precedent in South Africa - and will have huge ramifications for all other Preference Share minority rights in South Africa.

 

So I am afraid you are stuck with a Nominal Preference Share structure (hybrid equity) of R1.13 billion.

 

Remember the shareholder base has now changed with 51% new shareholders - I doubt they are buying shares for a new NAV play (one without an experienced board or strategy or prospectus ) - Remember when you buy on new prspectus you pay 1 x NAV not 1.5x NAV  - me thinks these share price moves are for a veto vote of 25% and value for rightful value for Prefs. 


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#23 SoleTrader

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Posted 24 February 2017 - 07:00 PM

Rumour that AXL going to do a R500m to R1bn rights issue to make some very large acquisitions. As I said, rumour, don't quote me! As long as management pays my pref dividend, the stock can go to 100c for all I care
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#24 HighRiskGain

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Posted 24 February 2017 - 05:16 PM

Sleekone - you get nothing because you did not recapitalise it - it was recapitalised by the Big 5 banks and PIC @ R10 billion - yes they put R10 bn in 

 

Highrisknogain - ABL is now AXL - they did a name change - that is all - the results to SEP 2016 are AXL's (African Phoenix) - and the NAV of African Phoenix at 30 Sep 2016 is 37.5c (cash backed)

 

 Go figure - why would you want to pay 60c for 37c 

 

OK 

 

I bought in at first 52 cent sold for 70 - I know its short , check my name if i wanted to do long term , i will let you know :) 


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#25 Magnet

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Posted 24 February 2017 - 03:27 PM

Sleekone - you get nothing because you did not recapitalise it - it was recapitalised by the Big 5 banks and PIC @ R10 billion - yes they put R10 bn in 

 

Highrisknogain - ABL is now AXL - they did a name change - that is all - the results to SEP 2016 are AXL's (African Phoenix) - and the NAV of African Phoenix at 30 Sep 2016 is 37.5c (cash backed)

 

 Go figure - why would you want to pay 60c for 37c 

 

It is only worth 37 if full value is attributed to the preference shares.  Zero value to prefs and NAV would be around R1.10.  Currently Prefs trading at a 3rd of that value so 60c is reasonable.


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#26 Fleetstroke1

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Posted 24 February 2017 - 03:24 PM

Sleekone - you get nothing because you did not recapitalise it - it was recapitalised by the Big 5 banks and PIC @ R10 billion - yes they put R10 bn in 

 

Highrisknogain - ABL is now AXL - they did a name change - that is all - the results to SEP 2016 are AXL's (African Phoenix) - and the NAV of African Phoenix at 30 Sep 2016 is 37.5c (cash backed)

 

 Go figure - why would you want to pay 60c for 37c 

 

I hear you well Alpha 101, My point is before the R10 bn of the big guns shareholders did put their money into the entity. To me this is tantamount to Highjacking. The entity is revived, yes but they cannot alone enjoy a free ride. This is bad precedent. At least some money should be given to AXL who in turn can grow the business and give some sort of dividend to ordinary shareholders. We cannot just lose like this. All listed companies will use this precedent in future when they are in the red. Where is our recourse on this one.  


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#27 Alpha 101

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Posted 24 February 2017 - 03:07 PM

Sleekone - you get nothing because you did not recapitalise it - it was recapitalised by the Big 5 banks and PIC @ R10 billion - yes they put R10 bn in 

 

Highrisknogain - ABL is now AXL - they did a name change - that is all - the results to SEP 2016 are AXL's (African Phoenix) - and the NAV of African Phoenix at 30 Sep 2016 is 37.5c (cash backed)

 

 Go figure - why would you want to pay 60c for 37c 

 

 


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#28 HighRiskGain

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Posted 24 February 2017 - 03:07 PM

yes, you get nothing

:lol: - Straight to the point sleekone 

 

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#29 SLEEKONE

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Posted 24 February 2017 - 02:15 PM

On the issue of African Bank, the good bank.... does it mean African Phoenix and its shareholders cannot lay claim on the successes of the good bank? We are the ones who took the risk and capitalised the bank before it went under. Now that it is resurrected we get nothing? 

yes, you get nothing


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#30 Fleetstroke1

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Posted 24 February 2017 - 01:58 PM

On the issue of African Bank, the good bank.... does it mean African Phoenix and its shareholders cannot lay claim on the successes of the good bank? We are the ones who took the risk and capitalised the bank before it went under. Now that it is resurrected we get nothing? 


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#31 Blackobar

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Posted 24 February 2017 - 01:39 PM

@Fleetstroke1 unfortunately the JSE doesn't do anything about insider trading, they just release lame press statements and it ends there.
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#32 HighRiskGain

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Posted 24 February 2017 - 01:27 PM

Confused  !!!

The NAV was last reported at 37.5c 

If anything it is in a short squeeze and should gravitate back to 40c

 

I might be wrong though ..............

Correct me if Im wrong here :

AFRICAN BANK INVESTMENTS LIMITED - Condensed Audited Financial Results for the Year Ended 30 September 2016  goto.png ABL ABLP 201612210011A
Condensed Audited Financial Results for the Year Ended 30 September 2016

Now that you see reporting of AFRICAN BANK (ABL) and not Phoenix which is a separate entity to African bank . So in other words the NAV was reported by African bank and not Phoenix .

 

They will not have a NAV as yet as they have not released any Results data as yet due to its “Special Resolution” . 


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#33 Alpha 101

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Posted 24 February 2017 - 01:03 PM

Confused  !!!

The NAV was last reported at 37.5c 

If anything it is in a short squeeze and should gravitate back to 40c

 

I might be wrong though ..............

 


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#34 Fleetstroke1

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Posted 24 February 2017 - 12:49 PM

This share is held down under 60 cents by sinister people, the JSE should investigate this share (PHOENIX (AXL)) trading. I might be wrong though.....


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#35 Alpha 101

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Posted 20 February 2017 - 10:01 AM

Latest SENS: Peregrine Equities bought approx 7.7%, Peregrine Capital 5.1%, and Steyn Capital 5.4% - that is nearly 20% in new hands 

 

As the company is trading far above NAV - and the face value of the Ords is still less than that of the Prefs - In essence if you own both and can veto resolutions (25% or more Ords) - you could profit from the uplift of the preference shares. There will come a time when the trade might swing - and shareholders could start shorting the Ords - and thus make money the other way too !  as long as they have 25% voting rights to look after their Pref shareholding. 

 

I would make sure you know what you are doing before departing with your cash 

 

Anyone agree - or am I missing the boat !!


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#36 LouahZA

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Posted 20 February 2017 - 09:32 AM

any idea why there is such a rapid rise in the sort term?


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#37 HighRiskGain

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Posted 17 February 2017 - 04:32 PM

They have R2bn in cash why would they need a rights issue?

I don't know what to believe anymore - Lonmin train - Lets go 


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#38 Magnet

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Posted 17 February 2017 - 03:02 PM

Maybe still short covering?

 

If they are doing a rights issue - it would surely be close to cash NAV - i.e 35c-45c

 

Directors promised news in Q! - so I guess we will all know within 40days

They have R2bn in cash why would they need a rights issue?


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#39 Alpha 101

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Posted 17 February 2017 - 11:27 AM

Maybe still short covering?

 

If they are doing a rights issue - it would surely be close to cash NAV - i.e 35c-45c

 

Directors promised news in Q! - so I guess we will all know within 40days


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#40 MrDividend

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Posted 17 February 2017 - 08:34 AM

Sorry to burst your bubble but your prefs are probably worthless.  Wait for the update. No dividends incoming for a VERY long time.

 

I also don't get it - not even sure where the cash  is going to be allocated. Maybe they will be the new grants company. Think it really is a black/red bet at the moment, but with the volumes, many seem to want to play. 


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