501 replies to this topic

[Francoisfin]

Thanks!

[Magnet]

François you will get a payout from Stangen sale. Look at their financials released this week. Will depend on the sales value. 550m will need to be paid to creditors 1st. Expecting a sale price of around 1.5bil so 900m to split between pref and Ord. Shareholders.

Sent from my SM-G920F using Sharenet Sharechat mobile app

[Francoisfin]

and news re Abil prefs then anyone please?

[Magnet]

Received a letter in the post from the business rescue practitioners. They say the Stangen sale will cover all liabilities (550m to creditors) and a surplus to be issued as a dividend to all shareholders. Good news at last.

[Magnet]

So Curator did say last year that equity investors "should" get something back from a Stangen sale. Wonder what this business is worth?

[PB82]

A quick question, what would have happened to any traders who had long future potions on ABIL just before they were delisted?

[Shi]

http://www.fin24.com...e-deal-20150421

 

African Bank debt holders fail to strike deal

[Magnet]

I had ABL - bought and sold, then bought small quantity @ R1. It was at R28 in 2013. The fact that they cannot even come up with better names than Good bank and Bad bank, must tell you something. I will not put anymore money into ABL, even if they call it Good Bank or Super Bank. If I can get and can sell options, will be a bonus, but I doubt it. The curator is burning money, and same sens every couple of months, nothing new, the ex CEO ran for the hills, scott free I might add, selling his 4 bedroom holiday house for R60 million. Like I said, either they re-list my shares, and I will keep it, but there is no way I will put anymore money into it.

 

Agreed.  The Curator did mention something about "the date for lifting of suspension has not been provided yet" in the last newsletter.  Meaning that these shares could actually relist?  We will know mid-May.

 

How I see it though is if they don't offer current shareholders anything - Then it will be pointless to hold an IPO next year as new shareholders will be too afraid to gamble on the Good bank...

[jaDEB]

I had ABL - bought and sold, then bought small quantity @ R1. It was at R28 in 2013. The fact that they cannot even come up with better names than Good bank and Bad bank, must tell you something. I will not put anymore money into ABL, even if they call it Good Bank or Super Bank. If I can get and can sell options, will be a bonus, but I doubt it. The curator is burning money, and same sens every couple of months, nothing new, the ex CEO ran for the hills, scott free I might add, selling his 4 bedroom holiday house for R60 million. Like I said, either they re-list my shares, and I will keep it, but there is no way I will put anymore money into it.

[Magnet]

And after loosing all our money (ABL Shares good bank & bad bank) , they want to give us a option to buy shares in the "Good Bank" -  either you give me free shares or u can F%$k right off.......

 

JadeB - The Options to buy new Shares will be worth something.  Hopefully there is decent discount for current shareholders to buy into the new bank, then you may be able to sell your Options at the margin discounted to others wanting to invest in the good bank.  

 

We may also get an additional return from the sale of the Insurance business to the good bank - Depending on its value and if anything filters down past the preference shareholders.

[jaDEB]

And after loosing all our money (ABL Shares good bank & bad bank) , they want to give us a option to buy shares in the "Good Bank" -  either you give me free shares or u can F%$k right off.......

[Magnet]

Shi, Restructure and Offers will be released mid May alone with results. Should know by then... IPO for new bank only next year though..<br /><br />Sent from my GT-I8200 using Sharenet Sharechat mobile app<br /><br />

[Shi]

Nothing new on the re-listing?
 

[gamma]

So Allan Gray carries a bit of ABIL debt

http://www.cnbcafric...an-bank-impact/

 

more odd is that they were buyers at 50c? Now we know who were buying from CML.

[Bullhunter]

Hahaha! Now you're really exposing our 'clever' HBD, I'm sure the possibility of people cashing on their rpunts on ABL, and him missing out, is giving him sleepless nights...and nothing to show for the '10' years (since 2009) he's been on this platform...

 

McE

 

..as further evidenced by the failure of the picture of our mutated genius to age! 

[Queen B]

Thanks Magnet. Interesting reading

[Magnet]

Interesting developments with Capitec today! Moodys downgrade cant be sitting well with them! Down 5%. An unfair downgrade it seems as they are nowhere near the depths of controversy that ABIL fell into.

Regarding ABIL, I've kinda written my shares off. But there is still a possibility that they may be worth something in the future? Is there any clarity on what the due process is regarding the suspension of shares and the possibility of them being carried over to the "new" bank?

 

http://www.rollingal...selves-exposed/

[Mr.Balls]

Interesting developments with Capitec today! Moodys downgrade cant be sitting well with them! Down 5%. An unfair downgrade it seems as they are nowhere near the depths of controversy that ABIL fell into.

Regarding ABIL, I've kinda written my shares off. But there is still a possibility that they may be worth something in the future? Is there any clarity on what the due process is regarding the suspension of shares and the possibility of them being carried over to the "new" bank?

You can call 36One Asset Management, they are buying OTC @ 5c so maybe you can still get something out

[Queen B]

Interesting developments with Capitec today! Moodys downgrade cant be sitting well with them! Down 5%. An unfair downgrade it seems as they are nowhere near the depths of controversy that ABIL fell into.

Regarding ABIL, I've kinda written my shares off. But there is still a possibility that they may be worth something in the future? Is there any clarity on what the due process is regarding the suspension of shares and the possibility of them being carried over to the "new" bank?

[Sugafoot]

I think this whole thing is taking on emotional proportions now...<br />Anyone who puts money into a company does so knowing it might fail or succeed...<br />And the ABIL guy on the ST is entitled to his opinion... And those who buy newspapers do so to read about such opinions <br /><br />Let us just sing our hymns and bury this one, fellas