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Steinhoff


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#4121 leo

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Posted 01 November 2018 - 07:33 AM

https://www.business...-markus-jooste/

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#4122 Tom

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Posted 01 November 2018 - 12:09 AM

The possible selling of assets seams to be perfectly expected and according to the restructuring plan, actually they still have 3 years to sell some assets at a reasonable price, and they're already about to sell.

Steinhoff has said several times that a main part of the restructuring agreement is to give Steinhoff enough time to sell some of their assets at a good price  (so avoiding a fire-sale).

Selling at a good price is always good news, yet the market is reacting as if it's some kind of shocking or unexpected news ! or were they just using the occasion to short sell, create pessimism and panic, and see if the price go lower, so they can buy back at a cheaper price, or was it both?


Edited by Tom, 01 November 2018 - 12:14 AM.

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#4123 Bubble

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Posted 31 October 2018 - 09:14 PM

Cannot wait, such a wonderful priviledge to be a shareholder!

Tradegate looking better, for now at least. Germany had public holiday today, could be that tradegate had more manipulation than normal.

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#4124 leo

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Posted 31 October 2018 - 05:58 PM

Tomorrow, Financial Mail (Warren Thompson) will be detailing the Steinhoff scandal.  It's going to be a bad day for the share.


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#4125 leo

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Posted 31 October 2018 - 05:39 PM

Getting smashed on trade gate exchange now..

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#4126 leo

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Posted 31 October 2018 - 05:19 PM

  

yea dude it sucks.....im still hoping lock up will spring it back to life again....thats IF its positive...eish


It will be. But only 10 max 15%.

We need a teaser date for the fy17 afs.

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#4127 Lionelza1

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Posted 31 October 2018 - 05:06 PM

 

Sorry bud....

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yea dude it sucks.....im still hoping lock up will spring it back to life again....thats IF its positive...eish
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#4128 leo

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Posted 31 October 2018 - 05:00 PM

Sorry bud....

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#4129 Lionelza1

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Posted 31 October 2018 - 04:52 PM

Think market tested R2 and now tired of it.... Down she goes
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#4130 leo

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Posted 31 October 2018 - 03:57 PM

  

Yes agreed but on the other hand selling the property reduces debt and less interest payment and then pay rental as a cost with the income generated.


True. But 800m is a long way off 9.8b. think they'll need it more stabilise working capital.

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#4131 DayTraderDad

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Posted 31 October 2018 - 02:51 PM

 

Thanks Daddy.
 
You know what that signals. Using long term assets to fund short term debt, never a good thing.
 
Holding out another 2 weeks before buying.. looking for a 1.80 entry, but the 1.95-2 bucks level appears to hold.
 
I hope they make an announcement when they will release the FY17 results, will drive the price up nicely in that last week, and then BAM, over the cliff.

 

Yes agreed but on the other hand selling the property reduces debt and less interest payment and then pay rental as a cost with the income generated.
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#4132 leo

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Posted 31 October 2018 - 02:29 PM

Thanks Daddy.

 

You know what that signals. Using long term assets to fund short term debt, never a good thing.

 

Holding out another 2 weeks before buying.. looking for a 1.80 entry, but the 1.95-2 bucks level appears to hold.

 

I hope they make an announcement when they will release the FY17 results, will drive the price up nicely in that last week, and then BAM, over the cliff.


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#4133 DayTraderDad

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Posted 31 October 2018 - 02:00 PM

Interesting: https://www.bloomber...-twitter-africa
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#4134 LarryK

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Posted 30 October 2018 - 12:30 PM

Hanging in there so far.
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#4135 DayTraderDad

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Posted 30 October 2018 - 10:29 AM

 

He said between 15-25% of the total claimed amount, they will not stop...and everyone will lose. Even the people that support this will lose when they only get 10% in 10-15 years.

 

Yes shareholders are stupid forcing the share down so lawyers can get rich.!!!
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#4136 Bubble

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Posted 30 October 2018 - 09:00 AM

Slimeball !!! I wonder what his cut is going to be when they bankrupt Steinhoff and thousands of people loose their jobs and us current shareholders loose all our money. Well, the wheel turns I hope his law firm goes bankrupt one day and he looses his job. :)  

He said between 15-25% of the total claimed amount, they will not stop...and everyone will lose. Even the people that support this will lose when they only get 10% in 10-15 years.


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#4137 leo

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Posted 30 October 2018 - 08:16 AM

https://www.bizjourn...s-to-close.html


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#4138 Milo

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Posted 30 October 2018 - 04:19 AM

Interesting interview: https://twitter.com/...888356649480193 Hahaha like the comment he said this will cost shareholders nothing! So lawyers pulling the Mother Teresa trick. They will go to courts or force SNH to pay but will not costs shareholders anything.There is always someone paying!! In this case will be the existing shareholders and even old share olders that bought in to reduce the average cost. I hope the courts though this out with costs maybe if lawyers burn they fingers this type of thing will stop. The same institution investors that dumped the share and made the price to collapse are now wanting compensation.

 

Slimeball !!! I wonder what his cut is going to be when they bankrupt Steinhoff and thousands of people loose their jobs and us current shareholders loose all our money. Well, the wheel turns I hope his law firm goes bankrupt one day and he looses his job. :)  


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#4139 Tom

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Posted 29 October 2018 - 11:25 PM

https://news.bloombe...bankruptcy-exit


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#4140 leo

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Posted 29 October 2018 - 10:52 PM

Company is cooked in.my opinion. Hence, going long before lock up, then short before results... with a stop..in case I'm wrong

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