I agree with your view. The comments from Heather Sonn on the restructuring progress are not negative. I would rather wait and have a complete report that addresses all the issues then the business can move forward.
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Exactly this Steinhoff needs a good cleaning to start afresh.
Quore from SENS:
Chairperson Heather Sonn said:
"We sincerely regret this revision to the reporting timeline. While substantial progress has been made, the volume and complexity of the work required, including the interactions between the various parties, has been significantly greater than initially anticipated and more time is needed for all parties involved to complete the outstanding tasks. I would like to assure all stakeholders that we continue to approach these projects with maximum effort and commitment as we seek to bring them to conclusion.
"In parallel, our financial restructuring continues to make good progress. Our recently announced plans regarding the restructuring of the Group's financial indebtedness are significant milestones and will bring in a new period of financial stability for the Group. These plans are unaffected by today's announcement."
Edited by DayTraderDad, 06 December 2018 - 11:19 AM.