15225 replies to this topic

[Zanme]

At an Akermans store its pumping. If these guys can't solve this they are good for nothing. These are our assets.

[Zanme]

At an Akermans store its pumping. If these guys can't solve this they are good for nothing. These are our assets.

[DayTraderDad]

Saw this on another forum. Does anyone disagree with their interpretation of Conservatoriums claim?

"wiese had a loan from a bank consortium, backed by Steinhoff shares. When the value of the shares fell, the loan was canceled and the shares went to the banks. the banks have realized (= sold) the shares. the consequent of the credit a specialized law firm bought from the banks, conservatorium.
It was now: Conservatory sued wiese, he should pay back ..

the lawsuit is typical of usa jurisprudence, they will never get anything from wiese. no judge will agree, the original loan was forcibly disposed of - so it ends.

the only real chance for conservatorum to see money is via global settlement. but they are not there. and therefore angry"

I agree with the comment. The reality CW borrowed from banks and pledged shares as security. Now the shares collapsed so the bank can only ask CW for their money.  the reality is CW claim with SNH is selling Pepkor to SNH and not the pledge to banks. Therefore the legal claim is between CW and SNH the only option Conservatory have is to sue CW. SNH has nothing to do with Conservatory. The fact that they bought the rights from the banks puts tem on the line that they are like bounty hunters and the bounty is CW not SNH. Anyway my thoughts. I believe this is the reason why SNH  changed they stance.

Edited by DayTraderDad, 03 December 2020 - 10:06 PM.

[Sleepwa123]

Saw this on another forum. Does anyone disagree with their interpretation of Conservatoriums claim?

"wiese had a loan from a bank consortium, backed by Steinhoff shares. When the value of the shares fell, the loan was canceled and the shares went to the banks. the banks have realized (= sold) the shares. the consequent of the credit a specialized law firm bought from the banks, conservatorium.
It was now: Conservatory sued wiese, he should pay back ..

the lawsuit is typical of usa jurisprudence, they will never get anything from wiese. no judge will agree, the original loan was forcibly disposed of - so it ends.

the only real chance for conservatorum to see money is via global settlement. but they are not there. and therefore angry"

[Squideye]

.....> Regstappe is in verskillende stadia teen Sekunjalo en Steinhoff. Die OBK is in gevorderde gesprekke oor ’n private skikking met Steinhoff en die ouditeursfirma Deloitte, het Sithole gesê. Die OBK het aansoek gedoen om toegang te kry tot die PwC-verslag oor Steinhoff, wat Steinhoff weier om openbaar te maak omdat dit voorberei is met die oog op regstappe, so Steinhoff glo hy het ’n wetlike privilegie op die verslag.

 

https://www.netwerk2...or-obk-20201203

[Squideye]

Lees my vorige Afrikaanse berigte en u sal weet hoe u hierdie artikel kan kry....

 

 

Likwidasie: Steinhoff-eisers kry ‘eers in 2031’ iets

 

https://www.netwerk2...1-iets-20201203

 

 

Christo Wiese voorgetrek deur Steinhoff, kla eiser

 

https://www.netwerk2...-eiser-20201203

[Squideye]

Poundland thanks all staff with £25 Christmas gift vouchers.

 

Poundland has given every staff member £25 in gift vouchers as a thank you for their hard work through the pandemic.

 

The vouchers are enclosed in a letter to all employees signed by the senior management team including MD Barry Williams, retail director Austin Cooke, trading director Tim Bettley and transformation director Mat Ankers.

 

“We wanted to give you a little gift this Christmas to say thank you for all that you have done and to let you know that you are appreciated,” the letter says.

 

“This past year has presented us all with some of the most challenging times ever, both professionally and personally. It has been humbling to see how all of our wonderful colleagues have risen to the challenges 2020 has put before us, how you have cared for each other and for our customers.

 

“We talk about our business being ‘customer-focused, people-led and tech-enabled.’ At the heart of this message is our people, that’s you, and we couldn’t be prouder of you!”

 

The letter tells staff they can spend the vouchers any time in December and reminds them they have Boxing Day and New Year’s Day off as shops close, a commitment Poundland made earlier in the year.

 

The vouchers are also on top of an extra week’s annual holiday, announced by MD Williams in April.

 

Poundland is in the midst of a major transformation programme, including the rollout of chilled and frozen food to hundreds of stores. As part of the transformation, the business is also “working hard to build a reputation as a great place to work”, a spokesman said.

 

“We’re transforming from a customer perspective, but just as important is the cultural transformation too behind the scenes.”

 

The variety discounter’s transformation is the subject of a new two-part Channel 4 documentary, Inside Poundland: Secrets From The Shop Floor, the first episode of which is due to air at 9pm next Monday (7 December).

 

https://www.thegroce.../650927.article

[DayTraderDad]

Its looking stable guys, I hope I don't curse it but its looking really good, the rip up and carry is close

Watch it today Brexit deal should be announced shortly!!!

[DeltaHedge]

SARB

 

https://www.sharenet...0&seq=41&scode=

 

Its looking stable guys, I hope I don't curse it but its looking really good, the rip up and carry is close

[Squideye]

SARB

 

https://www.sharenet...0&seq=41&scode=

[Squideye]

Steinhoff settlements hang in balance as dispute with Wiese lenders continues.

 

Embattled retail group Steinhoff International's plans on settling about 90 shareholder claims after its near collapse almost three years ago may have hit a snag as a separate legal battle against one of its largest shareholders threatens chances of a deal.

 

Steinhoff has had to deal with the repercussions of the 2017 accounting fraud scandal, that resulted in the company’s share price plunging more than 90% and erstwhile CEO Markus Jooste, being fined for insider trading. The group has committed to a R16.5 billion, made up of cash and Pepkor shares settlement to the claimants and former Shoprite Chairperson Christo Wiese’s R59 billion claim against Steinhoff, makes up the bulk of the claims.

 

However, his claim has been the disputed by Conservatorium, a US-based company that is attempting to claw back €1.6 billion it alleges to be owed by Christo Wiese's companies. Conservatorium purchased the claiming rights for about R29.5 billion from a group of banks, such as HSBC, Citibank and Goldman Sachs, which had loaned Wiese the money to acquire 314 million Steinhoff shares in 2016...........................>

 

https://www.news24.c...tinues-20201201

[Tom]

https://www.moneyweb...its-own-making/

 

Steinhoff’s settlement proposal hits hurdle of its own making

Is set to pay Christo Wiese-related entities around R7bn prior to outcome of court battle.

 

Steinhoff appears to have done an about-turn on its undertaking not to pay out on Christo Wiese-related claims until legal battles with US-registered Conservatorium disputing those claims have been settled.

 

The original settlement proposal released at the end of July revealed that Wiese-related entities were set to be the single largest group of beneficiaries with a possible total payout of around R9 billion on the R59 billion claimed.

However, at that stage Steinhoff made it clear that it would not pay out on any claims where there was a dispute to the legal ownership of the amount being claimed.

 

On Friday Steinhoff released an updated version of the proposed settlement, which contains one critical change. Steinhoff is now intending to pay Wiese-related entities around R7 billion for the ‘Upington 2 claim’ without waiting for the outcome of the court battle between Wiese and Conservatorium.

 

No explanation is given for the change; indeed there is not even a reference to the fact that there has been a change.

 

Strangely, proceeds for the Upington 1 claim, estimated at around €82 million, will remain ringfenced until the dispute between Wiese and Conservatorium has been resolved.

Remarkably, the dramatic change in approach comes after the Western Cape High Court strengthened Conservatorium’s claim by granting it intervention status.

 

ver the weekend Michael-James Currie and John Oxenham of Nortons Inc, legal advisors to Conservatorium, told Moneyweb their client had voted against the settlement proposal because of the change.

“Conservatorium’s view is that both the Upington 1 and Upington 2 claims are being disputed and the [Western] Cape High Court found that this is clearly a triable issue to be determined by a court,” said Currie, adding that the Steinhoff proposal to pay out the Upington 2 proceeds when there is clearly a disputed claim “is prejudicial to Conservatorium”.

When asked for an explanation, a spokesperson for Steinhoff told Moneyweb: “The position of the company has changed since the 27 July 2020 term sheet and the view of the company, after taking appropriate advice, is set out in the current proposal.”

Edited by Tom, 01 December 2020 - 12:00 AM.

[DayTraderDad]

Anyone wanting to get familiar with algorithm trading follow the share FCEL in the Nasdaq.  Lionel it is good understanding of day trading.

 

For those that have charts follow the 10 second chart.

 

https://finance.yaho...&.tsrc=fin-srch

[Investment novice]

Looking stable and good

[Squideye]

Derbyshire store to star in behind-the-scenes TV look at Poundland.

 

Episode One will be shown on Channel 4 on Monday, December 7 at 9pm and Episode Two a week later on December 14

 

https://www.derbytel...-scenes-4747527

[DeltaHedge]

Steinhoff’s settlement proposal hits hurdle of its own makingIs set to pay Christo Wiese-related entities around R7bn prior to outcome of court battle.

https://www.moneyweb...its-own-making/

They have something up their sleeve surely

[Squideye]

Steinhoff’s settlement proposal hits hurdle of its own makingIs set to pay Christo Wiese-related entities around R7bn prior to outcome of court battle.

 

https://www.moneyweb...its-own-making/

[DayTraderDad]

What you thinking guys, we close to a rip up to a min of 3 bucks ?

Next important dates:

 

1 - By Wednesday either there is a deal or no deal for BREXIT.

 

2 - 15th December 2020 creditors meetings to get approval in implements the UK arrangement.

[Squideye]

ABOUT PAXI

 

https://www.paxi.co.za/about

[DeltaHedge]

 

.....>

Paxi-diens maandeliks sowat 100 000 pakkies in sy netwerk van winkels gestuur. Dit het nou verdriedubbel.

In die afgelope belastingjaar het Paxi meer as 1,9 miljoen pakkies gekarwei wat groei van 120% op ’n jaargrondslag is.

Pep Stores bied die toonbank-tot-toonbank-diens sedert 2018.

Pakkies word op dieselfde afleweringsvoertuie gelaai wat produkte na Pep-winkels landwyd neem en die ontvangers kom haal dit by die toonbank af. Daar is nou meer as 2 200 Paxi-punte in Pep- en Shoe City-winkels landwyd, sê Silke.

Die plan is om die netwerk uiteindelik uit te brei na die meer as 5 000 winkels wat Pep, Ackermans, Tekkie Town en Refinery insluit.

....>

Volgens Silke het die gebruik van die Paxi-diens die meeste in Johannesburg en die Durbanse stadskern toegeneem. Die besigste oplaaipunte is winkels in die Oos-Kaap en veral in Mthatha, Alice, Butterworth en Oos-Londen.

Kliënte word per SMS, die Paxi-bot en -webblad op hoogte gehou van waar hul pakkies trek.

Pakkies in twee groottes kan gestuur word en daar is ’n keuse tussen ’n standaard- en ’n sneldiens. Pryse wissel tussen R59,95 en R119,95. Silke sê teen R59,95 is dit ’n uiters bekostigbare manier om pakkies van tot 5 kg te stuur.

Baie klein sakeondernemings gebruik die diens om pakkies na hul klante te stuur. Sedert Paxi begin het, is sowat 10 000 klein ondernemings geïdentifiseer wat pakkies op dié manier by hul klante kry.

Afleweringstye wissel volgens die opsie wat die versender kies.

Die opsie van sewe tot nege dae is gewild, maar Paxi bied ook ’n diens van drie tot vyf dae.

 

https://www.netwerk2...eskuit-20201128

 

 

What you thinking guys, we close to a rip up to a min of 3 bucks ?