15225 replies to this topic

[Tom]

ZERO + ZERO = 0

[DayTraderDad]

I'll wait and see how it plays out this morning but we are definitely going to see the price R1,80 sometime this morning that will be my entry point

I am looking for  quick dip to R1.70 my truck already at loading bay!!

[Tiekkie]

tradegate = R1.70 at the moment (at exchange rate)

these algorithms are killing us..

[Africa1962]

I'll wait and see how it plays out this morning but we are definitely going to see the price R1,80 sometime this morning that will be my entry point

tradegate = R1.70 at the moment (at exchange rate)

[Tom]

ZERO=0

[Tiekkie]

Haha I am going to load up my trucks at open because for met this will have a serious run up if SNH issues a sens saying they paying off the bonds. Because with that anouncement the GS can proceed.

I'll wait and see how it plays out this morning but we are definitely going to see the price R1,80 sometime this morning that will be my entry point

[Squideye]

DTD becomes famous now.  Pienk poepol in a German forum is copying & pasting some of your posts...He/she/it or other gender seems a bit dumb to use own kop...

[DayTraderDad]

let's hope they come out with strong answers today because it's going to be a blood bath on our local market today. But I have a truck on standby to load up this afternoon

Haha I am going to load up my trucks at open because for met this will have a serious run up if SNH issues a sens saying they paying off the bonds. Because with that anouncement the GS can proceed.

[Tiekkie]

Maybe I am missing something but all this judgement was about a guarantee of Eur465 mil. Basically for me what the judge said is the revised guarantee issued in 2019 in not applicable.

So what will happen if SNH pays off the bonds? What will then happen because the guarantee falls away?

let's hope they come out with strong answers today because it's going to be a blood bath on our local market today. But I have a truck on standby to load up this afternoon

[DayTraderDad]

My concern is that it creates a precedent and now everyone wants bigger pieces of the pie. There is only so much pie to go around. We'll be tied up in legal battles ad infinitum. CC and Creditors will have to be happy with less and I can't see that happening?

Maybe I am missing something but all this judgement was about a guarantee of Eur465 mil. Basically for me what the judge said is the revised guarantee issued in 2019 in not applicable.

So what will happen if SNH pays off the bonds? What will then happen because the guarantee falls away?

[DayTraderDad]

“With great respect to all the advisers and in no way attributing any malafides on anyone’s part, but no matter how much lipstick you put on a pig, it’s still a pig,” Sholto-Douglas said.     @ https://www.moneyweb...al-in-jeopardy/

Another weekend master piece from Ann!

For me it is selective reporting lots of sentiment and negatiivity at its best judge for yourselves: (All Ann is focusing in the settlement payment but forgets the other two important points especially that the guarantee stands)

Insedt from Ann article:
Puzzlingly the judge did not grant the requested interdict that would prevent Steinhoff from making any of the payments planned in terms of Section 155 of the Companies Act. However, Bozalek did note that the Section 155 process “has some way to go before it is sanctioned by a court”.

Insert from the Judge:

Interdictory relief
[138] The applicants sought an interdict restraining SIHPL from making any payment
pursuant to the SIHPL Guarantee, the SIHPL CPU or the compromise proposed by
SIHPL in terms of sec 155 of the Companies Act and from providing any security in
respect thereof. In terms of this judgment the SIHPL Guarantee stands and clearly
no interdictory relief in relation to it can be granted. As far as the balance of the
interdictory relief is concerned, the applicants made out no case that any payments
pursuant to the SIHPL CPU were imminent. Insofar as any payments made based
on the CPU might conceivably follow upon the acceptance of the sec 155 proposal,
not only might that proposal be revisited following this judgment, but the sec 155
process has some way to go before it can be sanctioned by a Court. Before that
stage is reached the applicants will have adequate opportunity to voice their
opposition to any such proposal or interdict any prior payments which they regard as
unlawful. Accordingly, the applicants have failed to make out any case for
interdictory relief.

[sommerso]

hopefully this deal can be salvaged. The judge didn't rule against the entire Settlement. Just a section thereof . That was Hamilton and Trevo case they wanted a bigger slice of the pie.. hopefully they will get it and let's move on. Hope that Christo and company don't backtrack.

 

My concern is that it creates a precedent and now everyone wants bigger pieces of the pie. There is only so much pie to go around. We'll be tied up in legal battles ad infinitum. CC and Creditors will have to be happy with less and I can't see that happening? 

[Tiekkie]

“With great respect to all the advisers and in no way attributing any malafides on anyone’s part, but no matter how much lipstick you put on a pig, it’s still a pig,” Sholto-Douglas said. @ https://www.moneyweb...al-in-jeopardy/

hopefully this deal can be salvaged. The judge didn't rule against the entire Settlement. Just a section thereof . That was Hamilton and Trevo case they wanted a bigger slice of the pie.. hopefully they will get it and let's move on. Hope that Christo and company don't backtrack.

[Squideye]

“With great respect to all the advisers and in no way attributing any malafides on anyone’s part, but no matter how much lipstick you put on a pig, it’s still a pig,” Sholto-Douglas said.     @ https://www.moneyweb...al-in-jeopardy/

[DeltaHedge]

Why must you swear?

That is totally inappropriate.

Lol, report me to the police you wanker

[Zanme]

Haha Zanme I think you put too much green stuff in your beer. Be careful you may overdose!!!

I hope that you don't overdose tomorrow when your truck load of Steinhoff drops by 25 percent hopefully it doesn't.

All compliments to the R1.8 billion team in Stellenbosch Netherlands or wherever they reside.

The 25 percent drop is equivalent to the head office costs. Its totally wrong.
This head office can be outsourced and the company will save say R1.4 billion on a multiple of 10 that is R14 billion. Twice the current marker cap.

Its clear what the problem at Steinhoff is and its not Hamilton etc.

[DayTraderDad]

Haha Zanme I think you put too much green stuff in your beer. Be careful you may overdose!!!

[Zanme]

Hi my friend you are definitely loosing the plot. I suggest you increase the strength of the beer, add more green stuff!!! Hahah

From HY 2021

CORPORATE AND TREASURY SERVICES (€M)

Total operating (loss)/gain (54)

Head office costs (15) HY 2020 was (22) This is Eur 2.5 mil per month!!
Insurance costs (18)
Corporate closure costs (19)

Audit fees (4)
Forex gains 2

Therefore Eur 15 mil is R255 mil for 6 months or R510 mil per year( where do you get R1.8 Bil?)

I think you are also dyslexic!! Haha

The only guy that is dyslexic is you.

Misleading people on this forum for the past four years.

And defending someone that is totally not cut out for the job. He must go to Werksmans.

On the one had they paying themselves handsomely and on the other hand he talks about rights issues.
You stand for that?

You guys bullied Polly until he was forced to leave.
But factually HE WAS right and you were wrong. Including Delta who swears on the platform.

You were calling this thing a buy at R3 R4.

Why is it that you so defensive???

So you losing the plot.

Head office costs are 1.8 billion.

You still haven't told me why? I didn't ask you for a breakdown.

A company that size should not have a head office cost of more than R200 Million.

Even less its an investment holding company so probably not more than 2 percent of market cap so around R140 million.

Go do your homework and see what head office cost of R7 billion invesment holding company is.

You guys are so narcissistic or I don't know what that even if someone demonstrates that things are not right you go onto the defensive insult and come with baseless arguments to defend incompetence.

So please read what you have written over the past 4 years. Steinhoff is worst off because costs have gone out of control.

[Zanme]

Zanme, you said you wouldn’t post anymore, wtf is this ?

You guys are disgusting. What are you Louis girlfriend that you get so sensitive whenever I factually find flaws with him. He isn't that goodlooking.

[Zanme]

Hi my friend you are definitely loosing the plot. I suggest you increase the strength of the beer, add more green stuff!!! Hahah

From HY 2021

CORPORATE AND TREASURY SERVICES (€M)

Total operating (loss)/gain (54)

Head office costs (15) HY 2020 was (22) This is Eur 2.5 mil per month!!
Insurance costs (18)
Corporate closure costs (19)

Audit fees (4)
Forex gains 2

Therefore Eur 15 mil is R255 mil for 6 months or R510 mil per year( where do you get R1.8 Bil?)

I think you are also dyslexic!! Haha

Haha to you my friend. R510 million is a lot as well. Its almost a 10th of the market cap.

What is insurance and all these other costs for?

Why are they not moving the debt down?