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Steinhoff


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#1 BradH

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Posted Today, 12:51 PM

Exactly Larry!
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#2 LarryK

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Posted Today, 12:41 PM

Here’s my opinion.

We are all a bunch of people hoping to make a buck. Nobody has a clue what’s going to happen tomorrow but we share our opinions, thoughts and ideas.

Anyone that uses this information to make an investment decision should seek help!

We should stop being so critical of people with enough courage to actually post on here.

It’s the weekend so let’s have a few beers and take it easy.
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#3 DayTraderDad

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Posted Yesterday, 08:11 PM

I have warned before Brexit is playing a role on the share price. Keep good track in what is happeneing, The reason price is up is negociations resumed again today.

 

My believe why Brexit is important a big chunck of Pepco Group will be affected by the final result of the negociations.

 

Also remember the volumes traded in SA of much less than traded in Europe. If I am correct the share holding in Europe is now has high as 75%.


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#4 DayTraderDad

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Posted Yesterday, 08:05 PM

Very true.

 

There are liars here that claim to be or to will be making money on this share, while the truth is that they've lost huge amounts of money, and continue to lose more, and cause others to also lose, and on top of that some of them post using multiple screen names on here and on other chat and comment sites.

Again lots of bla bla but not one single figure. I hope you have a big mouth because one day soon you going to have to swallow your insults.


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#5 Tom

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Posted Yesterday, 07:43 PM

On the pump and dump scale it is clear that the dump is the best payer.

 

Very true.

 

There are liars here that claim to be or to will be making money on this share, while the truth is that they've lost huge amounts of money, and continue to lose more, and cause others to also lose, and on top of that some of them post using multiple screen names on here and on other chat and comment sites.


Edited by Tom, Yesterday, 07:48 PM.

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#6 Tom

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Posted Yesterday, 06:54 PM

Correction:

 

 

Interesting ruling, and actually according to the law in South Africa,
 
I agree with it because I don't see why should Van Huyssteen or Wiese be treated any different than any other share holder.
 
But unfortunately Steinhoff has bought into that and in its settlement has decided to actually treat them favorably.
 
It looks like Van Huyssteen was wrong NOT to accept the settlement, however that doesn't apply to Wiese where his only and best option for now is to fight his case in The Netherlands or Germany, because in South Africa he would probably lose the case, even though Steinhoff is Dutch, while Pepkor is South African, but still Wiese need to try to take his case to The Netherlands or Germany to stand a better chance at winning.
 
If Steinhoff has a proof that Jooste facked the accounts, why are they not showing it yet, and what do they gain by keep locking the PwC report, knowing that they can't lock it for ever.
 
Takkie Town claim is relatively not big or game changer value wise, but important in that it indicates what can happen to Wiese's claim.
 
Wiese's claim is big and a game changer, but involves Conservatorium, and that's probably why the "all or nothing" settlement previously announced by Steinhoff has failed, and the declared main goal of this failed settlement which is avoiding costly and exhausting court cases has failed.
 
 
Highlights from the news article:
 
"they never actually proved fraud by former Steinhoff CEO Markus Jooste, the SCA says, and their claim that Steinhoff and Pepkor had faked internal sales of Pepkor was also not substantiated" ... (This really makes me wonder of what proofs Steinhoff management of Dec 2017 had against Jooste to substantiate their claims that it was Jooste that cooked the books, and why until now they haven't produced definite evidences to prove their claims, despite that the PwC has been finalized it's been time).
 
"The high court which had granted that order had erred, the SCA said, and no legal basis had been established for such a ban".
 
"Van Huyssteen group "produced no evidence to substantiate fraud" they claim was perpetrated by former Steinhoff CEO Markus Jooste".
 
"The group had also wrongly argued that Steinhoff controlled the legally-separate Pepkor, the SCA said, and had not shown that Tekkie Town had ended up with Pepkor through simulated transactions", rather than in a genuine series of transactions for value".
 
"In June the SCA threw out, with costs, an appeal by Van Huyssteen and other former Tekkie Town executives against an order that they may not sell shoes in direct competition to their former business, after they had set up the Mr Tekkie chain".

 


Edited by Tom, Yesterday, 06:57 PM.

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#7 Snippit

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Posted Yesterday, 06:48 PM

On the pump and dump scale it is clear that the dump is the best payer.


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  1. Trusting strangers on an anonymous chat forum can be a risky business. Even more risky than the stock market.
  2. I have tried to warn the vulnerable, being those without adequate savvy: e.g.: https://swrict.blogspot.com/2018/11/sharechat-warning.html
  3. Vultures circle hereabouts. Give them control and say goodbye to your money. 
  4. Learning links: http://swrict.blogspot.com/2018/11/trader-links.html

 


#8 Tom

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Posted Yesterday, 06:47 PM

Interesting ruling, and actually according to the law in South Africa,
 
I agree with it because I don't see why should Van Huyssteen or Wiese be treated any different than any other share holder.
 
But unfortunately Steinhoff has bought into that and in its settlement has decided to actually treat them favorably.
 
It looks like Van Huyssteen was wrong to accept the settlement, however that doesn't apply to Wiese where his only and best option for now is to fight his case in The Netherlands or Germany while in South Africa he would probably lose the case, even though Steinhoff is Dutch, while Pepkor is South African, but still Wiese need to try to take his case to The Netherlands or Germany to stand a better chance at winning.
 
If Steinhoff has a proof that Jooste facked the accounts, why are they not showing it yet, and what do they gain by keep locking the PwC report, knowing that they can't lock it for ever.
 
Takkie Town claim is relatively not big or game changer value wise, but important in that it indicates what can happen to Wiese's claim.
 
Wiese's claim is big and a game changer, but involves Conservatorium, and that's probably why the "all or nothing" settlement previously announced by Steinhoff has failed, and the declared main goal of this failed settlement which is avoiding costly and exhausting court cases has failed.
 
 
Highlights from the news article:
 
"they never actually proved fraud by former Steinhoff CEO Markus Jooste, the SCA says, and their claim that Steinhoff and Pepkor had faked internal sales of Pepkor was also not substantiated" ... (This really makes me wonder of what proofs Steinhoff management of Dec 2017 had against Jooste to substantiate their claims that it was Jooste that cooked the books, and why until now they haven't produced definite evidences to prove their claims, despite that the PwC has been finalized it's been time).
 
"The high court which had granted that order had erred, the SCA said, and no legal basis had been established for such a ban".
 
"Van Huyssteen group "produced no evidence to substantiate fraud" they claim was perpetrated by former Steinhoff CEO Markus Jooste".
 
"The group had also wrongly argued that Steinhoff controlled the legally-separate Pepkor, the SCA said, and had not shown that Tekkie Town had ended up with Pepkor through simulated transactions", rather than in a genuine series of transactions for value".
 
"In June the SCA threw out, with costs, an appeal by Van Huyssteen and other former Tekkie Town executives against an order that they may not sell shoes in direct competition to their former business, after they had set up the Mr Tekkie chain".

Edited by Tom, Yesterday, 06:48 PM.

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#9 Lionelza1

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Posted Yesterday, 05:05 PM

Get excited when price goes over previous high of R1.02
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#10 Leadingedge

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Posted Yesterday, 02:02 PM

Tradegate seems to be responding positively, strange that the SA market is not following on for a change...maybe a good thing to be breaking the same old trends?


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#11 Investment novice

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Posted Yesterday, 01:43 PM

Oh dear Ho dear another success:

https://www.business...ie-town-2020-10



Lining up nicely...
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#12 DayTraderDad

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Posted Yesterday, 01:13 PM

Hi All
Been following for a while, but only just got account approved.
Surely this should also help snh

I think so PEPKOR up over 5% so far today.


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#13 AMG76

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Posted Yesterday, 10:42 AM

Hi All
Been following for a while, but only just got account approved.
Surely this should also help snh
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#14 AMG76

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Posted Yesterday, 10:42 AM

Hi All
Been following for a while, but only just got account approved.
Surely this should also help snh
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#15 DayTraderDad

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Posted Yesterday, 09:00 AM

Oh dear Ho dear another success:  

 

https://www.business...ie-town-2020-10


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#16 BradH

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Posted 21 October 2020 - 11:07 AM

It looks as though Steinhoff will be paying much of the bill for the JSE’s investigation into possible wrongdoing by former executives of the international retail group.

On Monday the local bourse announced it had imposed R13.5 million of fines on Steinhoff for various contraventions related to the group’s accounting contraventions, which were disclosed to a shocked market in December 2017.

 

The contraventions perpetrated by key executives resulted in the share price plummeting within weeks and shareholders losing around R200 billion of value.

In a move that is likely to address criticisms of the JSE fining companies that are already struggling to deal with the consequences of malfeasance, the JSE has said it will draw on the R13.5 million to pay any costs incurred in future enforcement actions.

Move against directors

In Monday’s statement, the JSE made clear that its investigation into the company has been concluded but that it is continuing to investigate potential breaches of the Listings Requirements by directors. It is costs related to these investigations that the JSE will be drawing from Steinhoff – up to an amount of R13.5 million.

*taken from Moneyweb article


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#17 DayTraderDad

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Posted 20 October 2020 - 09:07 PM

The JSE SENS Letter: https://www.sharenet...020_S437562.pdf


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#18 DayTraderDad

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Posted 20 October 2020 - 09:05 PM

Be careful, this forum is used to post false "sales pitches" to promote Steinhoff share. 

Hi Tom live a bit!!! No one on this forum is selling SNH shares. Haha I think you are overestimating the importance of the forums. Further I dont think anything said on this forum has the capacity to make the share to rise or fall. Its all about diferent people having their own views and sharing it with others. Why dont you for once share your estimates?

 

I put figures down on this forum that are the output of the model I built over the years. Yet I hear some always very negative but to this date never have produced any sensible figures with explanations for thier views.  If I had to be a reader on this forum who would I believe someone that writes good posts with supporting figures or the one that isalways making statements without a single shread of supporting evidence for their views? 

 

Anyway why dont you give it a try and provide some figures to suport your comment for example explain to all with supporting figures why I am wrong about my R25 target in time? I put my figures down so give it a go!!


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#19 DayTraderDad

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Posted 20 October 2020 - 08:50 PM

Thank you. Have they paid that amount of 13.5mil?

Yes SNH will have to pay that fine. Its not much is just E690k.  Of interest I wounder maybe they can add this value to their futre claims against the wrong doers together with the E650k so claims settlements.


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#20 KP7

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Posted 20 October 2020 - 04:22 PM

Out of interest, what makes R9 your number?

 

Crappy dip at the end of yesterdays trading...

R9.76 (5 January 2018) was the prior major high, before this protracted sideways to lower price action from R3.82 (19 July 2018).

Although every rally since,  has been sold into new lows, the share has  been bought on three occasions from my lower trend line in red (most recently on 2 October 2020). 

The wedge formation tells me sellers are becoming weak hence why I’m long. 
Granted yesterday was a poor daily close, however, I’m more interested to see how the Monthly candle closes. Anything above 98c would engulf September and if positive SENS is released by next week, then it is possible.

Anyway, that’s my 90% Techs and 10% Fundi view.  :D


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