15225 replies to this topic

[Zanme]

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

Why must you swear?

That is totally inappropriate.

[DayTraderDad]

So daddy what about the head office costs. What's going on there? Greater then a quarter of the market cap?

They messing things up big time.

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

[Squideye]

Lang & Schwarz - Business hours today from 17:00 - 19:00 @ https://www.ls-tc.de...f-int-hld-aktie

[DeltaHedge]

So daddy what about the head office costs. What's going on there? Greater then a quarter of the market cap?

They messing things up big time.

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

[Zanme]

Haha the writer is dyslexic confusing Eur 465 mil with Eur 645 mil. Its amazing the poor standard of reporting!!!

So daddy what about the head office costs. What's going on there? Greater then a quarter of the market cap?

They messing things up big time.

[DayTraderDad]

Bozalek...

Haha the writer is dyslexic confusing Eur 465 mil with Eur 645 mil. Its amazing the poor standard of reporting!!!

[Squideye]

Bozalek...

Attached Files

•  20210704 CPT.pdf   2.03MB   21 downloads

[Zanme]

For me the only answer to Trevo is pay the bonds off then end of story!

Then the big victory for Hamiltons and Trevo was short lived. SNH managent are not idiots very sure they already predicted this outcome.

SNH already said the money they received from PEPCO ipo was to settle debt! I recon this news will come Monday.

Why is the head office costs R1.8 billion?
That is a quarter of the market cap?

[DayTraderDad]

Time is now working against Steinhoff...

For me the only answer to Trevo is pay the bonds off then end of story!

Then the big victory for Hamiltons and Trevo was short lived. SNH managent are not idiots very sure they already predicted this outcome.

SNH already said the money they received from PEPCO ipo was to settle debt! I recon this news will come Monday.

[Squideye]

Time is now working against Steinhoff...

Attached Files

•  20210704 WCHC.pdf   1.46MB   39 downloads

[Zanme]

Hi Zanme surely you must be joking Eur 75 mil per year in dividends is a drop in big bucket to provide cash for survival in late December 2017.

If you recall the S*** hit the fan in the 5th December and by the 15th December they had to sell the PSG shares.

Take a good look why the problem now with SHIPL not being fit enough to lend/guarantee SHFG bonds and now we facing the Trevos in court.

What would be Pepkor share price fall to if in 2018 went and borrow/lent more money to SNHNV?

Pepkor it self was in big problems with a heavy debt in 2018 which needed a rights issue tha's why SNH holding dropped because SNH did not have the cash to participate.

My friend get a case of green beer and wishing you a nice weekend.

At the moment. The debt levels in the operating companies are almost nothing. Why aren't they increasing the debt levels instead they have expensive debt at the group.
Surely as a group you pay down your expensive debt first?

The opsco EBITDA is around 1.4 billion. This excludes the ridiculously high head office costs of Eur 108 million ZAR 1.8 billion. A head office should not cost more then R200 million. Normally debt levels can be raised to a multiple of three times EBITDA. So the group can raise the debt levels in the opsco to around at least EUR 4 billion. Current net debt in opsco is EUR 500 million. So the group is paying is interest at 10 percent on debt of EUR 4 billion when they should be paying around 5 percent. Surely 4 years down the line this should have been done. Dividends can be increased to 50 percent of HEPS at least given the amount of cash the opscos generate. That is how you slowly start paying down your debt. Instead they continue to have a bloated head office costs with a 10 percent interest rate on debt and no dividends coming in. That is why I will say again that there is no demonstrated intention from management to make this work. They seem to be buying time so that they can continue to enjoy the R1.8 billion head office cost party. How much of interest could have been saved if they did this a while back?

[DayTraderDad]

Its a very simple mechanism called dividends. They could also have given loans too. Taken out loans on their book and in turn gave loans to the holding company.
The holding company could have settled the expensive debt and had the cheaper debt from Pepkor. They owned more then 70 percent of the company before Louis started selling it down.
So dividends is the easiest way and considering the way it makes cash they could have paid extremely high dividends.
Steinhoff controls it so they can dictate how much dividends must get paid as long as the company is solvent and liquid.

They needed to simplify things but instead they have complicated matters.

Hi Zanme surely you must be joking Eur 75 mil per year in dividends is a drop in  big bucket to provide cash for survival in late December 2017.

 

If you recall the S*** hit the fan in the 5th December and by the 15th December they had to sell the PSG shares.

 

Take a good look why the problem now with SHIPL not being  fit enough to lend/guarantee SHFG bonds and now we facing the Trevos in court.

 

What would be Pepkor share price fall to if in 2018 went and borrow/lent more money to SNHNV?

 

Pepkor it self was in big problems with a heavy debt in 2018 which needed a rights issue tha's why SNH holding dropped because SNH did not have the cash to participate.

 

My friend get a case of green beer and wishing you a nice weekend.

[Zanme]

Ever heard of the SARB (Hint - it's not South African Red Bull) and restrictions regarding cross border transfers...?

Ever heard of what Louis is earning? 120 million in two years. He is getting paid to solve these things and not talk about limitations and moan falsely. Ever heard of Meyer Kahn Nicky Oppenheimer Brian Joffe. No they weren't lawyers from Werksmans they solved their problems outside court and built empires from a South African base.

[Zanme]

Ever heard of the SARB (Hint - it's not South African Red Bull) and restrictions regarding cross border transfers...?

Ever heard of multinationals. They all operate like this. Moving money around the world. Ever heard of companies paying dividends? Probably haven't because Steinhoff will never do that. They will be taking more money from us. Ever heard of SAB Naspers Anglo American. They all South African start ups that became international conglomerates because it is possible to move money around the world.

[Squideye]

Its a very simple mechanism called dividends. They could also have given loans too. Taken out loans on their book and in turn gave loans to the holding company.
The holding company could have settled the expensive debt and had the cheaper debt from Pepkor. They owned more then 70 percent of the company before Louis started selling it down.
So dividends is the easiest way and considering the way it makes cash they could have paid extremely high dividends.
Steinhoff controls it so they can dictate how much dividends must get paid as long as the company is solvent and liquid.

They needed to simplify things but instead they have complicated matters.

Ever heard of the SARB (Hint - it's not South African Red Bull) and restrictions regarding cross border transfers...?

[Zanme]

Please stfu Mr Z, you have absolutely no idea of what is going on in the REAL world you are so far off it’s not even in the same Galaxy Sir!

Dude you don't know what's going on. So take your insults and.....

[Zanme]

Hi Zanme can you explain how would SNH make use of Pepkor's buckets of cash?

Surely its not correct that a 70% shareholder could just simply take the listed companies cash?

Can you please explain to me how you do that? Then I can learn something!

Its a very simple mechanism called dividends. They could also have given loans too. Taken out loans on their book and in turn gave loans to the holding company.
The holding company could have settled the expensive debt and had the cheaper debt from Pepkor. They owned more then 70 percent of the company before Louis started selling it down.
So dividends is the easiest way and considering the way it makes cash they could have paid extremely high dividends.
Steinhoff controls it so they can dictate how much dividends must get paid as long as the company is solvent and liquid.

They needed to simplify things but instead they have complicated matters.

[Inertia]

Please stfu Mr Z, you have absolutely no idea of what is going on in the REAL world you are so far off it’s not even in the same Galaxy Sir!

[DayTraderDad]

No Steinhoff as in Pepkor and Pepco generates buckets of cash.

You wrong again.

The reason it was sold was to cover the costs of the consultants and a head office that doesn't need to exist.

 

Hi Zanme can you explain how would SNH make use of Pepkor's buckets of cash?

 

Surely its not correct that a 70% shareholder could just simply take the listed companies cash?

 

Can you please explain to me how you do that? Then I can learn something!

[sommerso]

When an unstoppable force meets an immovable object....