15225 replies to this topic

[Olymphia]

I though of leaving something for everyone to reflect over night and welcome comments so we can have a nice constructive discussion:

1 -So Hamilton's lost all cases in Amsterdam and has to simply follow. So SoP on schedule.

2 - The ruling about Trevo and Hamilton was all avoid a guarantee of Eur 465 mil. The judge said the guarantee still stands, the interdict failed. Exactly what did Hamilton and Trevo win? I read a lot today and all comes down to how poorly media are spreading the news. The bonds are issued by SFHG, and on the second occasion to Steenbok Lux Finco (1) SARL (‘Lux Finco 1’), I don't see anywhere that apart from the guarantee that SIHPL has to pay.
So for me the 155 is still on track.

3 - The perfectly timed IPO of PEPCOR that has release Eur 1.2 mil surely can pay off the Eur 465 mil.

4 - Tekkie town old boys want to liquidate SNH for a claim of Eur 110 mil? Surely this must be a joke. My take in the 3rd September SNH will say to the court they will provide a guarantee or set the Eur 110 mil on curator account pending the final court case. Then the Tekkie town boys will also be out and then can go and spend the money fighting SNH year to come. But the 155 in track and voting can be concluded.

So we will have to hang tight till September

[Squideye]

4 - Tekkie town old boys want to liquidate SNH for a claim of Eur 110 mil? Surely this must be a joke. My take in the 3rd September SNH will say to the court they will provide a guarantee or set the Eur 110 mil on curator account pending the final court case. Then the Tekkie town boys will also be out and then can go and spend the money fighting SNH year to come. But the 155 in track and voting can be concluded.

 

Bernard Mostert @ https://iono.fm/e/1068889

[DayTraderDad]

I though of leaving something for everyone to reflect over night and welcome comments so we can have a nice constructive discussion:

 

1 -So Hamilton's lost all cases in Amsterdam and has to simply follow. So SoP on schedule.

 

2 - The ruling about Trevo and Hamilton was all avoid a guarantee of Eur 465 mil. The judge said the guarantee still stands, the interdict failed. Exactly what did Hamilton and Trevo win? I read a lot today and all comes down to how poorly media are spreading the news. The bonds are issued by SFHG, and on the second occasion to Steenbok Lux Finco (1) SARL (‘Lux Finco 1’), I don't see anywhere that apart from the guarantee that  SIHPL has to pay.

So for me the 155 is still on track.

 

3 - The perfectly timed IPO of PEPCOR that has release Eur 1.2 mil surely can pay off the Eur 465 mil.

 

4 - Tekkie town old boys want to liquidate SNH for a claim of Eur 110 mil? Surely this must be a joke. My take in the 3rd September SNH will say to the court they will provide a guarantee or set the Eur 110 mil on curator account pending the final court case. Then the Tekkie town boys will also be out and then can go and spend the money fighting SNH year to come. But the 155 in track and voting can be concluded.

Edited by DayTraderDad, 05 July 2021 - 07:32 PM.

[DayTraderDad]

are you still here? I thought you promise to leave???

Haha sometimes I get a feeling Zanme is the Polly under cover of a new identity!!! Time for green beer!!!

[DayTraderDad]

Some good volume today, some emptied their sheds and others "filled up their trucks"!

I at least managed to get a small bakkie load full! Ha Ha !!!

 

Think the nervous sellers are finished and we should now see a steady climb back up, will however be interesting to see once the US market opens again tomorrow, however I think that they are pretty bullish with their own market the way it is performing and may pay very little attention to SNH!

 

Been an exciting rollercoaster so far !!!

Haha I filled my available trucks today and hoping to get more trucks tomorrow. If it stays around the R1.70 I will fill them.

[DayTraderDad]

So you finally realized how Louis is destroying value.

Zanme if you still listen to David you need to by yourself a teddy bear. He is just a showman now!! He said absolutely nothing knowledgeable just waffle!!!

 

I like the part of a serious ruling but he does not know much about law!!! The joke of the day!!!

 

The share dropped 13% in Frankfurt and 16% in JSE do you really believe this is a collapse!!! The funny part we never ear from you when it goes you 20%!!!

 

Grab a few green beers and a fishing rod by next week you going to like LDP!!!

[DayTraderDad]

David Shapiro @ https://iono.fm/e/1068886

Haha I like this David holding on to straws!!! Like he said he does not know much but the interesting think he has a an opinion!!! Haha I love these actors!!!

 

Chris Logan had full knowledge on Tongaat but David no clue on Steinhoff!!!

[Polla]

So you finally realized how Louis is destroying value.

are you still here? I thought you promise to leave???

[Zanme]

David Shapiro @ https://iono.fm/e/1068886

So you finally realized how Louis is destroying value.

[Zanme]

I believe that there is excellent businesses here..and that did not change since Friday. Great assets

With Oom Louis behind the wheel. The assets keep on dissapearing but the liabilities continue to increase. If this continues you will oneday say Steinhoff had great assets. While Louis will be cruising in his yacht in Monaco. All at our expense. His 1.8 billion head office. This is a first.

[Squideye]

David Shapiro @ https://iono.fm/e/1068886

[Everlearning]

Some good volume today, some emptied their sheds and others "filled up their trucks"!

I at least managed to get a small bakkie load full! Ha Ha !!!

 

Think the nervous sellers are finished and we should now see a steady climb back up, will however be interesting to see once the US market opens again tomorrow, however I think that they are pretty bullish with their own market the way it is performing and may pay very little attention to SNH!

 

Been an exciting rollercoaster so far !!!

[Polla]

Haha truck loaded now going fishing for the day!!!

Bought a new trailer for my truck today.... filled up to the brim....

[Polla]

Just wondering if the Financial Creditors, who got their assets during the aftermath of December 2017 at very cheap prices (which unfortunately we don't know what prices), would be willing to write of say 2% of the outstanding capital debt?

The whole fight currently has got to do with them wanting 100% plus the high interest rates they are earning.  Yet, if all goes bust, they stand a whole lot to loose because then all litigation will continue and chances of liquidation becomes real which will be expensive and take years to finalize.

2% of Capital Debt would add EUR192mill to the pot which if offered to MPC's will almost double their offering which is currently on the table.

SNH offered them EUR 104mill

Deloitte offered them EUR 55mill

Insurers offered them EUR55mill

Total so far EUR 214mill

 

If this can be achieved I reckon all will be finalised quickly.  The question is if the Financial Creditors would be willing to write of some of the profits they made after they bought the credit over at discounted rates?

And maybe that now becomes an option seeing that they know the EUR465mill guarantee is void....?

[Polla]

Just wondering if the Financial Creditors, who got their assets during the aftermath of December 2017 at very cheap prices (which unfortunately we don't know what prices), would be willing to write of say 2% of the outstanding capital debt?

The whole fight currently has got to do with them wanting 100% plus the high interest rates they are earning.  Yet, if all goes bust, they stand a whole lot to loose because then all litigation will continue and chances of liquidation becomes real which will be expensive and take years to finalize.

2% of Capital Debt would add EUR192mill to the pot which if offered to MPC's will almost double their offering which is currently on the table.

SNH offered them EUR 104mill

Deloitte offered them EUR 55mill

Insurers offered them EUR55mill

Total so far EUR 214mill

 

If this can be achieved I reckon all will be finalised quickly.  The question is if the Financial Creditors would be willing to write of some of the profits they made after they bought the credit over at discounted rates?

[Tiekkie]

Jy is dapper Tiekkie

I believe that there is excellent businesses here..and that did not change since Friday. Great assets

[DayTraderDad]

Looks like they are preparing for the next upcoming court case...

Haha excellent!!!

[Squideye]

Looks like they are preparing for the next upcoming court case...

Attached Files

•  Preparations.pdf   39.95KB   31 downloads

[Everlearning]

Yip, definately wise to top up, managed to get another 18,500 at R1,65 earlier this morning.

 

Up to now, everything has gone according to the plan Steinhoff has set out for themselves, and there was always going to be the possibility that somewhere there could be a hiccup.

 

I have no doubt that their team have roled played every possible scenario and that they have an action plan for each eventuality. This in my opinion and given the 'turn around' specialists in the team, would have been logical and I guess would have been neccesary in them 'selling' the proposal to their long term creditors.

 

As far as the judgement is concerned, Trevo and Hamiliton were not succesful is stopping settlement procedures and still have the opportunity of voting on the Sec 155 but I think that even if they vote against, there is enough support for it to succeed.

 

This is simply a little 'írratation' for management and as far as I am concerned, not something to be to worried about, I am sure we will shortly hear how this is going to be resolved.

 

Hang in there Boyz !!!!

[CasualTrader]

Jy is dapper Tiekkie