15225 replies to this topic

[Zeebo]

At face value, I’m driven to conclude that the ords like us are screwed either way.

If we somehow block the creditors deal, chances are good they pull or the plug or threaten that and beat the share down further.

If don’t, they own the company, price may spike slightly, we are probably going to be bought out at nominal value or live on the exhaust fumes of whatever happens to us in future.

But here’s what I will do. I will try to get in touch with the opposition to hear what they are doing over there or here besides a voting pact and then decide what to do. This one reeks to high heaven like I said and doing nothing means we will only get screwed a third time.

On a serious note, are there any ords out there willing to co-find litigation. I might be able to get litigation insurance in play but if not, this will cost 1-2 million to mount any kind of meaningful challenge, not to mention the risk of an adverse cost order (unlikely but possible). Whether any shareholders claim for loss is even sound in law is debatable after the last Steinhoff judgement by Unterhalter.

[Zeebo]

At face value, I’m driven to conclude that the ords like us are screwed either way.

If we somehow block the creditors deal, chances are good they pull or the plug or threaten that and beat the share down further.

If don’t, they own the company, price may spike slightly, we are probably going to be bought out at nominal value or live on the exhaust fumes of whatever happens to us in future.

But here’s what I will do. I will try to get in touch with the opposition to hear what they are doing over there or here besides a voting pact and then decide what to do. This one reeks to high heaven like I said and doing nothing means we will only get screwed a third time.

On a serious note, are there any ords out there willing to co-find litigation. I might be able to get litigation insurance in play but if not, this will cost 1-2 million to mount any kind of meaningful challenge, not to mention the risk of an adverse cost order (unlikely but possible). Whether any shareholders claim for loss is even sound in law is debatable after the last Steinhoff judgement by Unterhalter.

[Africa1962]

 

 

How is it possible that the ordinary shareholders can get such a raw deal....vote Yes of be excluded for the company? How does that work, never heard of that before!!

 

 

One would have thought there are many other options other than the one they have highlighted. With the constant improvement in all their operations and the pending Brazilian explosion, Mattress Firm  (a possible listing of both those companies)....the future is fairly bright...pay your debt for now and wait for the markets to improve for IPO of Mattress and Brazil etc. But hey I don't know enough to comment really.

 

However I do think shareholders of Pepkor and Pepko want SNH delisted as SNH is a blocker to their individual share price increasing....once SNH delisted, there will be no more noise allowing the others to get on with it......

[Trader001]

waiting for someone to tell me it will be alright...and that the R200,000 in lost share value is just my imagination

 

I don't have much input other than to say I am still holding. At a sizeable loss, but still holding. Seem the share price has stabilised somewhat. 

 

Wow yes, I feel exactly the same as you guys but at the same time also annoyed with what Steinhoff agreed to with the creditors. It is also amazing that there is not a single word from Steinhoff to further supporting their stance and agreement on 15 Dec2022 AND ELABORATING ON THIER PREMISE THAT THE 'AGREEMENT' WITH THE CREDITORS WILL ULTIMATELY BE GOOD FOR THE COMPANY and ordinary shareholders.

I could have also cashed out when the share was  relatively high AND could have trebled my investment  but thought it will improve even further that is why I was long on this share. I am annoyed because the share was very stable ranging in the 100 and 200  for a substantial time and there was not any for-warning about the strategy of steinhoff.

 

I will not sell this investment now as, I would like to see what the impact of the SDK initiative is going to be and what will transpired at the next AGM. How is it possible that the ordinary shareholders can get such a raw deal....vote Yes of be excluded for the company? How does that work, never heard of that before!!

 

I believe that if one wants to give SDK a proxy to vote on your behalf, this can only be done a couple of days before the AGM ? Anyone with knowledge of this. I looks like the AGM is going to be 22/23 March 2023?

 

Also I believe our only recourse is to form a united front  with all the ordinary shareholders against the unilateral decisions by the creditors and Steinhoff . 

[Zeebo]

Don’t feel bad.

I went from 7 figures up by Jan 22 to a third of what I paid for it in 2019. The only reason I dont say how much is to spare myself the pain of a life-changing amount I should have banked.

[Africa1962]

People are quiet or is everyone still in the corner crying themselves to sleep on this one?

 

waiting for someone to tell me it will be alright...and that the R200,000 in lost share value is just my imagination

[Zeebo]

People are quiet or is everyone still in the corner crying themselves to sleep on this one?

[Trader001]

Yikes...

these are the two involved at the moment with sdk

Daniel Bauer - Chairman of the Board of Directors of the SdK

Dr. Marc Liebscher - Attorney and board of directors

the SDK

 

I received the presentation from Daniel Bauer

Thanks a lot

[Africa1962]

full presentation

 2023-01-16 Informationsveranstaltung Steinhoff_V3.pdf   1.06MB   29 downloads

 

[Africa1962]

 

from SDK newletter (translated from German)

 

We advise shareholders:
Take your voting rights yourself or via the SdK on coming
AGM was! Only if management and creditors
feel resistance from the shareholders, there is a chance of a fair deal for them
Shareholders!
We therefore recommend the following procedure:
1. Registration for the free SdK newsletter: www.sdk.org/steinhoff.
2. Recording the amount of shares held by all those affected who are subject to the actions of the SdK
(possible from January 20, 2023 at www.sdk.org/steinhoff).
3. If the number of votes represented by the SdK is appropriate: Letter to SNH:
Disclosure and proof of the expected number of votes represented, reference to
Points of criticism and request to enter into discussion/negotiations. Depending on the amount of
Number of affected SdK members may require external support
Lawyers and auditors (financing reservation).
4. Depending on whether discussions take place or not, and depending on the outcome of the
discussions, we the members will decide on this shortly before the general meeting
leave how to proceed.

 

 

Yikes...

these are the two involved at the moment with sdk

Daniel Bauer - Chairman of the Board of Directors of the SdK

Dr. Marc Liebscher - Attorney and board of directors

the SDK

 

I received the presentation from Daniel Bauer

[Squideye]

from SDK newletter (translated from German)

 

We advise shareholders:
Take your voting rights yourself or via the SdK on coming
AGM was! Only if management and creditors
feel resistance from the shareholders, there is a chance of a fair deal for them
Shareholders!
We therefore recommend the following procedure:
1. Registration for the free SdK newsletter: www.sdk.org/steinhoff.
2. Recording the amount of shares held by all those affected who are subject to the actions of the SdK
(possible from January 20, 2023 at www.sdk.org/steinhoff).
3. If the number of votes represented by the SdK is appropriate: Letter to SNH:
Disclosure and proof of the expected number of votes represented, reference to
Points of criticism and request to enter into discussion/negotiations. Depending on the amount of
Number of affected SdK members may require external support
Lawyers and auditors (financing reservation).
4. Depending on whether discussions take place or not, and depending on the outcome of the
discussions, we the members will decide on this shortly before the general meeting
leave how to proceed.

Attached Files

•  20230119.pdf   74.84KB   9 downloads

[Africa1962]

from SDK newletter (translated from German)

 

We advise shareholders:
Take your voting rights yourself or via the SdK on coming
AGM was! Only if management and creditors
feel resistance from the shareholders, there is a chance of a fair deal for them
Shareholders!
We therefore recommend the following procedure:
1. Registration for the free SdK newsletter: www.sdk.org/steinhoff.
2. Recording the amount of shares held by all those affected who are subject to the actions of the SdK
(possible from January 20, 2023 at www.sdk.org/steinhoff).
3. If the number of votes represented by the SdK is appropriate: Letter to SNH:
Disclosure and proof of the expected number of votes represented, reference to
Points of criticism and request to enter into discussion/negotiations. Depending on the amount of
Number of affected SdK members may require external support
Lawyers and auditors (financing reservation).
4. Depending on whether discussions take place or not, and depending on the outcome of the
discussions, we the members will decide on this shortly before the general meeting
leave how to proceed.

[Africa1962]

Steinhoff launches Accelerated Placement of ordinary shares in Pepco Group N.V. @ https://www.eqs-news...oup-n-v/1734915

 

as so they only got 315Mil Euro.....not going to help much

[Squideye]

Steinhoff launches Accelerated Placement of ordinary shares in Pepco Group N.V. @ https://www.eqs-news...oup-n-v/1734915

[Trader001]

for those interested in registering your shares with SDK - this email from them below on how to join.

 

 

 

first, you should register for our free newslettwer service:

 

https://sdk.org/leistungen/klageverfahren/steinhoff-international-holding-nv/

 

We run a webinar tomorrow at 7 pm german time, you can also register under

 

https://next.edudip.com/de/webinar/informationsveranstaltung-zur-interessensbundelung-der-aktionare-der-sanierung-der-steinhoff-international-holding-nv/1872804

 

But it is all in German. The newsletter you can translate via google translate, I can also send you the presentation from the webinar afterwards, if you are interested.

Thanks very much.

Yes, I would like to know what transpired at this webinar tomorrow and I think many other participants on this chat forum would also liked to be informed.

I think it is a very good idea  for ordinary shareholders to form a united front in order to get a better outcome.  

 

Thanks, I have registered for the newsletter . 

 

I am just wondering who will be leading the Group and what their qualifications or expertise are.

 

I trust that will become known at tomorrow's webinar as well as the approach of  Sdk towards this seemingly unfair unilateral agreement between Steinhoff and the Creditors  

[Africa1962]

is anyone aware of any JSE shareholder goups wanting to pool shares to get some leverage at the boardroom table?

for those interested in registering your shares with SDK - this email from them below on how to join.

 

 

 

first, you should register for our free newslettwer service:

 

https://sdk.org/leistungen/klageverfahren/steinhoff-international-holding-nv/

 

We run a webinar tomorrow at 7 pm german time, you can also register under

 

https://next.edudip.com/de/webinar/informationsveranstaltung-zur-interessensbundelung-der-aktionare-der-sanierung-der-steinhoff-international-holding-nv/1872804

 

But it is all in German. The newsletter you can translate via google translate, I can also send you the presentation from the webinar afterwards, if you are interested.

[Africa1962]

  Summary...

 

is anyone aware of any JSE shareholder groups wanting to pool shares to get some leverage at the boardroom table?

[Squideye]

  Summary...

Attached Files

•  20230113.pdf   112.37KB   22 downloads

[Zeebo]

The fact that the share price has not reacted and now settling in the doldrums range is an indicator of lost confidence.
Personally, I don’t see anything tangible pulling the share back up this year.

[Staghorn]

From FNB's Daily Market Insights...

 

 

Steinhoff's Pepco Group (PCO PW) released a first quarter trading update.

Revenue grew 24% y/y (Bloomberg FY23: 16.0%) and 27% y/y in constant currencies, led by PEPCO at 41%. Like-for-like growth in constant currencies was up 13% y/y driven by strong growth across all brands. The group saw a strong performance in Western Europe, particularly in Italy and Spain.