Hi Trader001, see my response and view:
1. Why the share can trade in a narrow band for a substantial time around one price such as is happening today. I saw 10 X similar trades at R1/s for 1000 shares reported at 12:03. Is this perhaps a type of price manipulation?
To be honest I do think that the share price is being kept low by manipulation. Reasons would be: If litigants would be settled in shares they would receive a huge amount of shares to settle any litigation. The lower the current share price is the bigger their portion will be. Secondly this share can easily be manipulated by the media by spreading fake news due to the high percentage of private shareholders. Furthermore big investors currently are not allowed to trade in this share as we do not have a clean audit opinion making Steinhoff a paradise for short sellers. So I think its a combination of all the factors mentioned above. Only a clean audit opinion and progress in the litigation will lead to a higher share price in my opinion.
2. Also there does not seem to be any news around settlements of claims on 30/11 as have been reported...What could be the hold-up: sensitivity and privacy about settlements and would that have to be made public via a Sens ( I suppose that would be the best way to handle it)
There is no requirement from Steinhoffs side to issue a SENS in this regard. Personally I think that all major litigation's will only be settled in 2021. At least the CW one. The shareholder claims could be dragged for decades if u look at the history.
3. With the majority of shareholding in public hands as have been alluded to in previous posts; why does the share not respond in a bullish manner because, really..... we know more about the company now that previously and in that period of greater uncertainty the share price even traded higher than currently. Also, my view is that there is a better chance for this company to succeed than to fail and that it is a global company with growth potential?
As mentioned before, too many emotional shareholders currently holding the shares (Around 75%), big investors are not allowed to trade in Steinhoff until a clean audit opinion is issued. Thus it is Short Sellers who control the current price. You will notice once again a spike and then slow drop. Classic short attack.
Just an FYI- Steinhoffs management has made substantial progress up to date and so far everything is going according the plan. All operating units have been turned to profits and a healthy sale of business is under way. Keep strong and if you are invested wait until the end of Dec 2021.