Goldman doing God’s work...

Steinhoff
#21
Posted 15 January 2021 - 12:31 PM
#22
Posted 15 January 2021 - 12:15 PM
The SENS yesterday was just an update regarding the current process running in the background. No new information was presented. We all know that Conservatorium wants to stop the settlement.
But did you guys see the latest SENS just out. Goldman Sachs is buying shares. It will become even more interesting now.
Thats epic news on the Goldman front - very interesting
#23
Posted 15 January 2021 - 11:57 AM
The SENS yesterday was just an update regarding the current process running in the background. No new information was presented. We all know that Conservatorium wants to stop the settlement.
But did you guys see the latest SENS just out. Goldman Sachs is buying shares. It will become even more interesting now.
Hahaha now TOM is totally confused!!! Time for the Bright big Blue letters
#24
Posted 15 January 2021 - 11:42 AM
The SENS yesterday was just an update regarding the current process running in the background. No new information was presented. We all know that Conservatorium wants to stop the settlement.
But did you guys see the latest SENS just out. Goldman Sachs is buying shares. It will become even more interesting now.
Are they buying shares? What does 'manner of disposal' then means?
#25
Posted 15 January 2021 - 11:29 AM
The SENS yesterday was just an update regarding the current process running in the background. No new information was presented. We all know that Conservatorium wants to stop the settlement.
But did you guys see the latest SENS just out. Goldman Sachs is buying shares. It will become even more interesting now.
#26
Posted 15 January 2021 - 11:27 AM
Can someone explain the relevance of the latest Sens. What does a person "read" into this kind of announcement?
Disclosure of Substantial Holding Notification
#28
Posted 15 January 2021 - 10:09 AM
Everything in the world is only for those who have eyes to see it...
#29
Posted 15 January 2021 - 07:47 AM
Again I'm not sure where you're getting this from. Please substantiate why you think the direction is incorrect and why it may result in the total destruction of all value in the business?
Typical Tom (Poly undercover) making useless statements. For me I see no issue creditors first in line and under fire sale with Corona Conservatorium will see no money at all in case of liquidation. Further al, is required is a simp,y majority above 50% so quite sure Conservatorium will not have that so for me yet another buying opportunity cannot wait for market open
#30
Posted 14 January 2021 - 08:57 PM
In the SENS, the statement:
"SIHNV will respond to the request in due course"
sounds defiant which isn't a good idea at all.
The share holders now need to move immediately to get the management to rectify its direction, before all is lost. The money of the current share holders might be lost, and the claim money of the claimant shareholders might be lost.
Again I'm not sure where you're getting this from. Please substantiate why you think the direction is incorrect and why it may result in the total destruction of all value in the business?
#31
Posted 14 January 2021 - 08:15 PM
Snh still to issue a further sens...we now heading to critical hurdles...the big stuff is sorted..mthe major litigators have come to the table...lets be hopeful..perhaps some few cents up or down...but good potential for a nice pump in 12 days....from r1.20...most predicting the previojs pump to r1.60 will be surpassed heading past r2.....are you dumping at r2......be interesti g to see...the d1 pump..
#32
Posted 14 January 2021 - 08:02 PM
#33
Posted 14 January 2021 - 08:01 PM
#34
Posted 14 January 2021 - 07:12 PM
Share price is going down on trade gate.
Edited by Tom, 14 January 2021 - 07:14 PM.
#35
Posted 14 January 2021 - 06:50 PM
It would have been better for the management of Steinhoff to stick to their initial decision to not pay Wiese till he sorts out with Conservatorium, even if that means putting the whole settlement on hold, or adjusting it to just settle with all other claims that are small in total money claim size but big in quantity of claims, and can be delayed another couple of years too. However Steinhoff management thought that they can just ignore Conservatorium, thinking that Conservatorium can only go against Weise, and ignore Conservatorium's win in the Cape court, and now they're put themselves in a head collision with Conservatorium, with potentially totally devastating consequences.
In the SENS, the statement:
"SIHNV will respond to the request in due course"
sounds defiant which isn't a good idea at all.
The share holders now need to move immediately to get the management to rectify its direction, before all is lost. The money of the current share holders might be lost, and the claim money of the claimant shareholders might be lost.
#36
Posted 14 January 2021 - 06:44 PM
haha tom. Thats a little dramatic. I may be wrong but this is my take on it.
The Feb 8 hearing does not materially impact anything like that. I do not see the Conservatorium restructuring expert having that much influence that they would all of a sudden liquidate based on their input. Steinhoff has walked a long road and their plan is quite mature. Why would they all of a sudden agree to liquidate when a minority party wants them to?
The scheme of arrangement that will probably be pushed through the courts at the end of the month overides their unwillingness to participate and aligns their interests to that of the 80+ % of creditors that have approved of the scheme.
Conservatorium simply do not have significant enough weighting behind them at this stage to derail this process unless I am missing something?
I agree. Very dramatic. The 8th of February hearing is actually Conservatorium pulling the last of all their rabbits from the hat. I can't see any court appointing a restructuring expert in such a complex business where more than 80%, closer to 90%, of all creditors are in favor of the proposal on the table. They might have a case with the 21st January hearing regarding certain class proposals of the claimants, but that still have to be seen.
I also can't see the hearing of the 26-27th January going the way of an absolute minority. But time will tell.
What is important, and stated in the SENS, is that SARB granted approval for the settlement and that it is valid for one year. Obviously one can re-apply for extension of this approval, but no one knows if the situation in the RSA economy might change so dire for this approval to be extended. If not, it might get messy...... for all stakeholders.... Conservatorium included..
#37
Posted 14 January 2021 - 06:42 PM
....this is crazy......
#38
Posted 14 January 2021 - 06:30 PM
haha tom. Thats a little dramatic. I may be wrong but this is my take on it.
The Feb 8 hearing does not materially impact anything like that. I do not see the Conservatorium restructuring expert having that much influence that they would all of a sudden liquidate based on their input. Steinhoff has walked a long road and their plan is quite mature. Why would they all of a sudden agree to liquidate when a minority party wants them to?
The scheme of arrangement that will probably be pushed through the courts at the end of the month overides their unwillingness to participate and aligns their interests to that of the 80+ % of creditors that have approved of the scheme.
Conservatorium simply do not have significant enough weighting behind them at this stage to derail this process unless I am missing something?
Management must go. They are representing Christo and company who knows if they didn't do side deals. The Chairman came out to be a crook as well. This company needs all of them out.
#39
Posted 14 January 2021 - 06:03 PM
Also another "a hearing has been scheduled for 8 February 2020 in the Amsterdam District Court following a recent request by Conservatorium Holdings LLC to appoint a restructuring expert to SIHNV"
THIS MEANS ANYBODY INVESTED IN STEINHOFF MIGHT LOSS ALL THEIR MONEY (big fat zero).
haha tom. Thats a little dramatic. I may be wrong but this is my take on it.
The Feb 8 hearing does not materially impact anything like that. I do not see the Conservatorium restructuring expert having that much influence that they would all of a sudden liquidate based on their input. Steinhoff has walked a long road and their plan is quite mature. Why would they all of a sudden agree to liquidate when a minority party wants them to?
The scheme of arrangement that will probably be pushed through the courts at the end of the month overides their unwillingness to participate and aligns their interests to that of the 80+ % of creditors that have approved of the scheme.
Conservatorium simply do not have significant enough weighting behind them at this stage to derail this process unless I am missing something?
#40
Posted 14 January 2021 - 05:47 PM
It would have been better for the management of Steinhoff to stick to their initial decision to not pay Wiese till he sorts out with Conservatorium, even if that means putting the whole settlement on hold, or adjusting it to just settle with all other claims that are small in total money claim size but big in quantity of claims, and can be delayed another couple of years too. However Steinhoff management thought that they can just ignore Conservatorium, thinking that Conservatorium can only go against Weise, and ignore Conservatorium's win in the Cape court, and now they're put themselves in a head collision with Conservatorium, with potentially totally devastating consequences.
Edited by Tom, 14 January 2021 - 05:52 PM.