15225 replies to this topic

[Tiekkie]

Ya but I think sale of businesses and IPO proceeds won’t be enough, I guess the obvious answer Is rights issue but at what price, they can’t do it at this price, would be crazy.

well let's see half year results there should be a large drop in debt at least. Then after the settlement they can restructure the debt at cheaper rates hopefully and avoid that dreaded word that is a rights issue...

[Africa1962]

Update...

was a good read until it became German in the last paragraphs....

[DeltaHedge]

so my understanding is that the settlement has been accounted for in the last set of results?..the IPO of Pepco towards debt...sale of other business the same....? Please educate me

Ya but I think sale of businesses and IPO proceeds won’t be enough, I guess the obvious answer Is rights issue but at what price, they can’t do it at this price, would be crazy.

[Squideye]

Update...

Attached Files

•  20210601 Update.pdf   1.63MB   25 downloads

[Tiekkie]

I am also sure they have already figured out what they will do for stage 3 - reducing debt, once claims are settled then I think stage 3 will come very quickly.

so my understanding is that the settlement has been accounted for in the last set of results?..the IPO of Pepco towards debt...sale of other business the same....? Please educate me

[DeltaHedge]

The R40 is very easy just PEPCO alone will give you that. In 5 years they expect a EBITDA of Eur 1 Bil at a valuation of 12 make it with Eur 12 bil. the 78% of SNH is with Eur 9.36 Bil  and SNH shares in issue is 4.2 Bil so you looking at a NAV per share of Eur 2.23 or R38 at a exchange rate of R17 to 1 Euro. Then you still have Pepkor, MF and Grinlit Brands!!!

I am also sure they have already figured out what they will do for stage 3 - reducing debt, once claims are settled then I think stage 3 will come very quickly.

[DayTraderDad]

If everything goes according to plan. 

 

Do you guys think, honestly that we can see R40 / share in about 2 or 3 years? Or what would be a good estimation of a share price?  

The R40 is very easy just PEPCO alone will give you that. In 5 years they expect a EBITDA of Eur 1 Bil at a valuation of 12 make it with Eur 12 bil. the 78% of SNH is with Eur 9.36 Bil  and SNH shares in issue is 4.2 Bil so you looking at a NAV per share of Eur 2.23 or R38 at a exchange rate of R17 to 1 Euro. Then you still have Pepkor, MF and Grinlit Brands!!!

[Sleepwa123]

My best guess in terms of the fair value of the business is around R20 to R30 in a few years time. This does not take into account future growth etc. and possible dilution of the crown jewels. It will take time to change perception of the business.

[Squideye]

‘Geen anonieme lys’ vir Steinhoff-eise, beveel hof @ https://www.netwerk2...el-hof-20210531

Edited by Squideye, 01 June 2021 - 08:57 AM.

[sommerso]

If everything goes according to plan. 

 

Do you guys think, honestly that we can see R40 / share in about 2 or 3 years? Or what would be a good estimation of a share price?  

Edited by sommerso, 01 June 2021 - 08:10 AM.

[DayTraderDad]

Thanks Squideye,
 
Great ruling for Steinhoff!
 
Reading through the judgement carefully, one can appreciate the detailed strategy SNH have executed and this can be seen is the cleverly execution of the GSP
 
In terms of the "Brandaris Sysytem" which is allowed in the case of more than 5000 creditors (which is the case with SNH), the appointed and now Court approved "Committee of Representatives" carefully put together by SNH are the ones to votes on behalf of all the creditors/claimants at the upcoming voting on the composition pland on 30 June. 
 
Clearly, Hamilton are not going to succeed and at very best may be able to appointy 1 person to the Committee who will ultimately be voting on the Plan
 
Interesting how the PIC came out against Lancaster and disputed their authority to act on behalf of the PIC.
 
The number of votes required for the GSP to be accepted is "three-forths". With the number of claimants/creditors that presented their case to support the Application, I am confident we will already have far more than the required 75% come 30th June.
 
From what I can deduce, all the stars are alligning for Steinhoff and we will shortly have achieved the second of the 3 milestones!!!
 
Great work Management, worth every cent you being paid to 'raise the Titanic' back to glory!!!

Thanks excellent explanation.

[DeltaHedge]

Thanks Squideye,

Great ruling for Steinhoff!

Reading through the judgement carefully, one can appreciate the detailed strategy SNH have executed and this can be seen is the cleverly execution of the GSP

In terms of the "Brandaris Sysytem" which is allowed in the case of more than 5000 creditors (which is the case with SNH), the appointed and now Court approved "Committee of Representatives" carefully put together by SNH are the ones to votes on behalf of all the creditors/claimants at the upcoming voting on the composition pland on 30 June.

Clearly, Hamilton are not going to succeed and at very best may be able to appointy 1 person to the Committee who will ultimately be voting on the Plan

Interesting how the PIC came out against Lancaster and disputed their authority to act on behalf of the PIC.

The number of votes required for the GSP to be accepted is "three-forths". With the number of claimants/creditors that presented their case to support the Application, I am confident we will already have far more than the required 75% come 30th June.

From what I can deduce, all the stars are alligning for Steinhoff and we will shortly have achieved the second of the 3 milestones!!!

Great work Management, worth every cent you being paid to 'raise the Titanic' back to glory!!!

Epic!

[Everlearning]

Thanks Squideye,

 

Great ruling for Steinhoff!

 

Reading through the judgement carefully, one can appreciate the detailed strategy SNH have executed and this can be seen is the cleverly execution of the GSP

 

In terms of the "Brandaris Sysytem" which is allowed in the case of more than 5000 creditors (which is the case with SNH), the appointed and now Court approved "Committee of Representatives" carefully put together by SNH are the ones to votes on behalf of all the creditors/claimants at the upcoming voting on the composition pland on 30 June. 

 

Clearly, Hamilton are not going to succeed and at very best may be able to appointy 1 person to the Committee who will ultimately be voting on the Plan

 

Interesting how the PIC came out against Lancaster and disputed their authority to act on behalf of the PIC.

 

The number of votes required for the GSP to be accepted is "three-forths". With the number of claimants/creditors that presented their case to support the Application, I am confident we will already have far more than the required 75% come 30th June.

 

From what I can deduce, all the stars are alligning for Steinhoff and we will shortly have achieved the second of the 3 milestones!!!

 

Great work Management, worth every cent you being paid to 'raise the Titanic' back to glory!!!

 

 

 

 

 

 

 

[Squideye]

Informal English Translation of Ruling Amsterdam District Court Dated 28 May 2021 @ https://steinhoffset...bined_final.pdf

[DayTraderDad]

When r the court cases dates

 

Tekkie Town liquidation application: 3rd September

 

Amsterdam:

As announced on 3 May 2021 by the Administrators the Court decided to hear the

Administrators' application on Wednesday 19 May 2021 (the “Hearing”). On 14 May 2021 in

additional directions the Court decided that the uniliteral requests made by parties other than

the Administrators (i.e. Hamilton B.V. and Hamilton 2 B.V. (together, “Hamilton”) and Lancaster

101 (Pty) Ltd. (“Lancaster”)) would not be dealt with during the Hearing but would be dealt

with at a hearing on 4 June 2021

 

Cape Town:

 

Hamilton and Trevo on 7 June

 

https://www.news24.c...r-vote-20210527

[Olymphia]

When r the court cases dates

[Olymphia]

I believe Trevo and Hamilton have no case to stop the majority of claimants from settling. There cannot be guaranty on your share value when you buy it o open market. Further Trevo expected the board to react in 2014 without knowing what is known today. Hind sight is 10710 vision. If Trevo was so sure of the facts why did it not act then and only now???

[DayTraderDad]

Not the PEPKor results but the court case hearings?

I believe Trevo and Hamilton have no case to stop the majority of claimants from settling. There cannot be guaranty on your share value when you buy it o  open market. Further Trevo expected the board to react in 2014 without knowing what is known today. Hind sight is 10710 vision. If Trevo was so sure of the facts why did it not act then and only now???

Edited by DayTraderDad, 30 May 2021 - 04:29 PM.

[sommerso]

Not the PEPKor results but the court case hearings?

[DayTraderDad]

Is it just me or do those hearing results not sound like good news?

For me was good results the increase in share price also showing, Pepkor reduced debt by R6,9 bil so if all going well next year will have virtually no debt.