14654 replies to this topic

[Investment novice]

Lets call it....cummon r2

[andi222]

Yeah so the following events have an impact on the share price:

 

- Brexit deal

- Pepco group to release their numbers today. There is a live webcast today at 2. Apparently pound land has increased their turnover to close to 2 billion €.

- 12 and 15 December we will know if we have approval for extension of debt facilities. Which will also determine if the GS will be approved.

- Given this sharp increase so far we might even be included in the S DAX next year again. So Funds will monitor this and start buying as soon as they see Steinhoff meets the requirements.

 

So I think we might see a nice run up the following weeks, hopefully it will be sustainable this time. Let's hope for good news along the way.

[ROAD TO MY CFA]

I think this has to do with the Brexit situation. Assuming it would come down slightly again but in general I think it’s on the path upward with the creditors meeting to be held on 15 December 2020 if I’m not mistaken.

[Africa1962]

I've seen estimates of fair values of R6 per share that I think are understated. That would mean that the entity destroyed 90% of its value from pre-crash highs of R60+ a share which I find hard to believe as they have turned a few loss making entities around and removed a few bad apples. Granted the financials were overstated and the settlement will hurt badly but we definitely have a more solid core business now in Pepkor, Pepco and MF.

 

Once the dust settles I think we will only see a fair market value in a year or two afterwards as sentiment towards the share will still be an issue for some time.

is there anyone prepared to hazard a "guess" what is pushing the price at the moment....and if it can be sustained...or is it the traditional "pump and dump"

[Sleepwa123]

I've seen estimates of fair values of R6 per share that I think are understated. That would mean that the entity destroyed 90% of its value from pre-crash highs of R60+ a share which I find hard to believe as they have turned a few loss making entities around and removed a few bad apples. Granted the financials were overstated and the settlement will hurt badly but we definitely have a more solid core business now in Pepkor, Pepco and MF.

 

Once the dust settles I think we will only see a fair market value in a year or two afterwards as sentiment towards the share will still be an issue for some time.

[Sleepwa123]

There's also a massive difference in EBITDA if the global peace deal goes through and they are able to refinance debt at market related rates. 

That move makes Steinhoff a viable entity overnight. Fingers crossed!

[andi222]

Hi DeltaHedge,

 

if you look at the NAV of Steinhoff we are big in the minus. I think their Equity is like negative 4 billion €.

 

However as I have mentioned before it is managements plan to act poor to get rid of these claims. Refer to previous posts on what management has done to "act poor". 

Also two new points which came to my attention which are actually genius from management are the IPO's. The values they have announced are not even close to what the operating units are worth currently. That's why surprise surprise they have been deferred to after the settlement. Explained in simple terms: The claimants have argued in my opinion that all operating units are worth way more then actually shown in the books. 

So what did management do, Pepkor SA is currently trading way under its value, however the current market is valuing it at around 2.5 Billion € in the open market. Now Steinhoff had to show that Pepco Group is also not worth much more, so now they have gotten so called valuation of around 4 billion. Which the claimants cant denie as it is black on white. Same with Greenlit. Steinhoff did not make use of these IPO. It was just to determine a "current fair value in my opinion" to strengthen the point that there is no value left in Steinhoff. 

 

However in my opinion these operating units currently still under Steinhoff are robust and have high growth rates in future. Their actual valuation is way higher given their intense high EBITDA. I think just for 2020 financial year we will have an EBITDA of above 1.2 Billion €.

 

So to get to a reasonable value one should look at the operating units performance. 

Its really tough to get to a current value as there are so man hurdles to be cleared before I can make a reasonable assessment. But in my opinion if the dust is settled there will be massive value left in the company in my opinion. Just keep calm and give management a bit more time. 

[DayTraderDad]

Good run Brexit deal coming Boris came to his senses

[DeltaHedge]

@Andi, what’s your fair value per share after claims are sorted ?

[Zanme]

At an Akermans store its pumping. If these guys can't solve this they are good for nothing. These are our assets.

[Zanme]

At an Akermans store its pumping. If these guys can't solve this they are good for nothing. These are our assets.

[DayTraderDad]

Saw this on another forum. Does anyone disagree with their interpretation of Conservatoriums claim?

"wiese had a loan from a bank consortium, backed by Steinhoff shares. When the value of the shares fell, the loan was canceled and the shares went to the banks. the banks have realized (= sold) the shares. the consequent of the credit a specialized law firm bought from the banks, conservatorium.
It was now: Conservatory sued wiese, he should pay back ..

the lawsuit is typical of usa jurisprudence, they will never get anything from wiese. no judge will agree, the original loan was forcibly disposed of - so it ends.

the only real chance for conservatorum to see money is via global settlement. but they are not there. and therefore angry"

I agree with the comment. The reality CW borrowed from banks and pledged shares as security. Now the shares collapsed so the bank can only ask CW for their money.  the reality is CW claim with SNH is selling Pepkor to SNH and not the pledge to banks. Therefore the legal claim is between CW and SNH the only option Conservatory have is to sue CW. SNH has nothing to do with Conservatory. The fact that they bought the rights from the banks puts tem on the line that they are like bounty hunters and the bounty is CW not SNH. Anyway my thoughts. I believe this is the reason why SNH  changed they stance.

Edited by DayTraderDad, 03 December 2020 - 10:06 PM.

[Sleepwa123]

Saw this on another forum. Does anyone disagree with their interpretation of Conservatoriums claim?

"wiese had a loan from a bank consortium, backed by Steinhoff shares. When the value of the shares fell, the loan was canceled and the shares went to the banks. the banks have realized (= sold) the shares. the consequent of the credit a specialized law firm bought from the banks, conservatorium.
It was now: Conservatory sued wiese, he should pay back ..

the lawsuit is typical of usa jurisprudence, they will never get anything from wiese. no judge will agree, the original loan was forcibly disposed of - so it ends.

the only real chance for conservatorum to see money is via global settlement. but they are not there. and therefore angry"

[Squideye]

.....> Regstappe is in verskillende stadia teen Sekunjalo en Steinhoff. Die OBK is in gevorderde gesprekke oor ’n private skikking met Steinhoff en die ouditeursfirma Deloitte, het Sithole gesê. Die OBK het aansoek gedoen om toegang te kry tot die PwC-verslag oor Steinhoff, wat Steinhoff weier om openbaar te maak omdat dit voorberei is met die oog op regstappe, so Steinhoff glo hy het ’n wetlike privilegie op die verslag.

 

https://www.netwerk2...or-obk-20201203

[Squideye]

Lees my vorige Afrikaanse berigte en u sal weet hoe u hierdie artikel kan kry....

 

 

Likwidasie: Steinhoff-eisers kry ‘eers in 2031’ iets

 

https://www.netwerk2...1-iets-20201203

 

 

Christo Wiese voorgetrek deur Steinhoff, kla eiser

 

https://www.netwerk2...-eiser-20201203

[Squideye]

Poundland thanks all staff with £25 Christmas gift vouchers.

 

Poundland has given every staff member £25 in gift vouchers as a thank you for their hard work through the pandemic.

 

The vouchers are enclosed in a letter to all employees signed by the senior management team including MD Barry Williams, retail director Austin Cooke, trading director Tim Bettley and transformation director Mat Ankers.

 

“We wanted to give you a little gift this Christmas to say thank you for all that you have done and to let you know that you are appreciated,” the letter says.

 

“This past year has presented us all with some of the most challenging times ever, both professionally and personally. It has been humbling to see how all of our wonderful colleagues have risen to the challenges 2020 has put before us, how you have cared for each other and for our customers.

 

“We talk about our business being ‘customer-focused, people-led and tech-enabled.’ At the heart of this message is our people, that’s you, and we couldn’t be prouder of you!”

 

The letter tells staff they can spend the vouchers any time in December and reminds them they have Boxing Day and New Year’s Day off as shops close, a commitment Poundland made earlier in the year.

 

The vouchers are also on top of an extra week’s annual holiday, announced by MD Williams in April.

 

Poundland is in the midst of a major transformation programme, including the rollout of chilled and frozen food to hundreds of stores. As part of the transformation, the business is also “working hard to build a reputation as a great place to work”, a spokesman said.

 

“We’re transforming from a customer perspective, but just as important is the cultural transformation too behind the scenes.”

 

The variety discounter’s transformation is the subject of a new two-part Channel 4 documentary, Inside Poundland: Secrets From The Shop Floor, the first episode of which is due to air at 9pm next Monday (7 December).

 

https://www.thegroce.../650927.article

[DayTraderDad]

Its looking stable guys, I hope I don't curse it but its looking really good, the rip up and carry is close

Watch it today Brexit deal should be announced shortly!!!

[DeltaHedge]

SARB

 

https://www.sharenet...0&seq=41&scode=

 

Its looking stable guys, I hope I don't curse it but its looking really good, the rip up and carry is close

[Squideye]

SARB

 

https://www.sharenet...0&seq=41&scode=

[Squideye]

Steinhoff settlements hang in balance as dispute with Wiese lenders continues.

 

Embattled retail group Steinhoff International's plans on settling about 90 shareholder claims after its near collapse almost three years ago may have hit a snag as a separate legal battle against one of its largest shareholders threatens chances of a deal.

 

Steinhoff has had to deal with the repercussions of the 2017 accounting fraud scandal, that resulted in the company’s share price plunging more than 90% and erstwhile CEO Markus Jooste, being fined for insider trading. The group has committed to a R16.5 billion, made up of cash and Pepkor shares settlement to the claimants and former Shoprite Chairperson Christo Wiese’s R59 billion claim against Steinhoff, makes up the bulk of the claims.

 

However, his claim has been the disputed by Conservatorium, a US-based company that is attempting to claw back €1.6 billion it alleges to be owed by Christo Wiese's companies. Conservatorium purchased the claiming rights for about R29.5 billion from a group of banks, such as HSBC, Citibank and Goldman Sachs, which had loaned Wiese the money to acquire 314 million Steinhoff shares in 2016...........................>

 

https://www.news24.c...tinues-20201201