15225 replies to this topic

[Squideye]

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Attached Files

•  20221215.pdf   2.22MB   18 downloads

[Tentative]

Wishful thinking I'm afraid. I read it as Creditors getting 80% just to extend the debt maturity. And as a bonus, the stock will be delisted! Management apparently gave up on Steinhoff & hedge-funds cleaned us out.

 

The remaining shares I had I have now sold too. It's actually been a good trade financially as half I sold 1 year back - but with all the time spent on keeping up with this incredible saga I still feel worse off haha. Good luck all.

 

The way I understand the SENS is that the debt maturity extension to 06/2026 will be granted at 10% interest by the creditors...  If the debt is not repaid by 06/2026 the creditors will take equity in the company, which means the majority of the debt will then fall away.  Current shareholders, if the shareholders vote in favor of this agreement, will retain 20% economical interest in the company (or its successor), but no voting rights.  And it is foreseen that this company will not be listed.

If I understand this correctly it is not actually that bad for current shareholders and I think what we see happening with the share price is actually an over reaction...

 

Any one with views on this?

[DeltaHedge]

Do you think this is still a buy?

I'd leave it along until the dust settles, I think there are a lot of alternatives with lower risk eg. Meta, their fundamentals are still solid and with a pe of around 11 I think it's a solid buy

[CasualTrader]

Dang, 80 cents, at 10 I'll buy

Do you think this is still a buy?

[DeltaHedge]

If it is the case then I must say the wording was not clear. One does feel they not giving shareholders much of a choice.

Dang, 80 cents, at 10 I'll buy

[CasualTrader]

The way I understand the SENS is that the debt maturity extension to 06/2026 will be granted at 10% interest by the creditors...  If the debt is not repaid by 06/2026 the creditors will take equity in the company, which means the majority of the debt will then fall away.  Current shareholders, if the shareholders vote in favor of this agreement, will retain 20% economical interest in the company (or its successor), but no voting rights.  And it is foreseen that this company will not be listed.

If I understand this correctly it is not actually that bad for current shareholders and I think what we see happening with the share price is actually an over reaction...

 

Any one with views on this?

If it is the case then I must say the wording was not clear. One does feel they not giving shareholders much of a choice. 

[CasualTrader]

The way I understand the SENS is that the debt maturity extension to 06/2026 will be granted at 10% interest by the creditors...  If the debt is not repaid by 06/2026 the creditors will take equity in the company, which means the majority of the debt will then fall away.  Current shareholders, if the shareholders vote in favor of this agreement, will retain 20% economical interest in the company (or its successor), but no voting rights.  And it is foreseen that this company will not be listed.

If I understand this correctly it is not actually that bad for current shareholders and I think what we see happening with the share price is actually an over reaction...

 

Any one with views on this?

Yes if the case which I hope then not all doom and gloom. Does give a bit of time to actually try and sort it out. I guess this was also the only way to reach an extension. 

[Polla]

The way I understand the SENS is that the debt maturity extension to 06/2026 will be granted at 10% interest by the creditors...  If the debt is not repaid by 06/2026 the creditors will take equity in the company, which means the majority of the debt will then fall away.  Current shareholders, if the shareholders vote in favor of this agreement, will retain 20% economical interest in the company (or its successor), but no voting rights.  And it is foreseen that this company will not be listed.

If I understand this correctly it is not actually that bad for current shareholders and I think what we see happening with the share price is actually an over reaction...

 

Any one with views on this?

[CasualTrader]

interesting the sens started with "We are pleased to announce".....

Yes, I saw that. Very odd. I would have said. We are sad to announce.

[Africa1962]

try 45% and counting

 

interesting the sens started with "We are pleased to announce".....

[Africa1962]

What's happening at Steinhoff today? 20% down?

 

try 45% and counting

[Tiekkie]

There is a SENS out, but I must admit I am not clear on what it means.

the debt pike extended and paying 10% interest on the debt it is crazy nr. Shareholders won't see anything from SNH soon

[CasualTrader]

There is a SENS out, but I must admit I am not clear on what it means. 

[Staghorn]

What's happening at Steinhoff today? 20% down?

[Squideye]

Pepco Group N.V - Preliminary Results for the Year Ending 30th September 2022 @ https://www.pepcogro...september-2022/

[Squideye]

https://businesstech...fine-cut-by-90/

Attached Files

•  20221208.pdf   129.18KB   4 downloads

[Squideye]

Bruce Whitifield interviews Unathi Kamlana, Commissioner at the Financial Sector Conduct Authority @ https://www.capetalk...ary?ref=pid:112

Edited by Squideye, 08 December 2022 - 07:16 AM.

[Squideye]

Markus Jooste penalised R20m by the FSCA. Down from the initial R161.5m administrative penalty it imposed in October 2020 @ https://www.moneyweb...0m-by-the-fsca/

[DayTraderDad]

I’m starting to think the same but my hope and logic is that we can’t do worse than where it’s at. Only the future will tell.

For me I still see value but need to have more information on how managemrnt planing to pay down the debt.

[Zeebo]

I’m starting to think the same but my hope and logic is that we can’t do worse than where it’s at. Only the future will tell.