15225 replies to this topic

[Zanme]

The whole market is screaming but Steinhoff is still where it was. Listed on the European Stock Market.

[Everlearning]

Correct Andi, Rand strengthening will further help!

[andi222]

Surprise Surprise, the Pepkor share price is close to 15 rands. Still heavy undervalued however it will help the GS.

[Dell]

Couldn't agree more

[DeltaHedge]

Pay day needs to come boys, we have been waiting long enough !

[DayTraderDad]

Tom, on 06 Nov 2020 - 2:13 PM, said:

And yet more pain for Steinhoff as most of their business is in Europe and USA:

    - The Rand is improving.

    - The business and economy in EU, UK, USA are expected to suffer during November.

Hi TOM the problem with you is your negativity is blocking your vision/mind. SNH business strive in hardship because they are a discount retailer and when people have no money their sales rise. I think you need to take some time off work and do a course on retail business.

[DayTraderDad]

Everlearning, on 06 Nov 2020 - 10:46 AM, said:

Hi Tom,

 

Not so, nothing has changed for Steinhoffs situation, they are still on track as per the strategy announce on the 4th.

 

You 'printed' part of today's announcement but missed the most critical sentance which I now include !!!

 

"The relevant vote is not material and does not change the overall effect of the approvals

received."

 

I am very happy with the progress that is being made, although like us all, would naturally like it all to happen a litte quicker than it has. However, (as has been highlighted repeatedly in this forum) the task at hand for management has been mammoth and what they have achieved so far bodes very well for the future. 

 

I remain long and will keep accruing!!!

Haha typical Tom he has reflective glasses only sees negativity!!! That´s why he needs the bright big red letter

[Tom]

And yet more pain for Steinhoff as most of their business is in Europe and USA:

    - The Rand is improving.

    - The business and economy in EU, UK, USA are expected to suffer during November.

Edited by Tom, 06 November 2020 - 04:13 PM.

[DeltaHedge]

andi222, on 06 Nov 2020 - 1:15 PM, said:

Please explain why exactly this is a disaster?

Again you try to spread negativity even though you can't explain it.

And just an FYI, I don't think this forum can influence the share price in any way.

IN can, he is a whale

[andi222]

Tom, on 06 Nov 2020 - 10:19 AM, said:

"a vote of one financial creditor was incorrectly recorded as a consent whereas it was in fact a rejection"

"Steinhoff did not achieve the required support of 100% of the SEAG Facility A1 Creditor and the SEAG Facility A2"

"Steinhoff did not achieve the required support of 100% of the SEAG Facility A1 Creditors and the SEAG Facility A2 Creditor which in any event will be the subject of the proposed UK scheme of arrangement.

 

This is a disaster for Steinhoff.

 

Please explain why exactly this is a disaster? 

 

Again you try to spread negativity even though you can't explain it.

 

And just an FYI, I don't think this forum can influence the share price in any way.

[Tom]

Yet another disaster announced today: Pepkor has issued a bad report as well, but they say it was because of the lock downs, so this will give the longs some still more extra time to wait, am not sure how long more of wait time will that be.

Edited by Tom, 06 November 2020 - 03:04 PM.

[andi222]

Great news from Pepkor!!! 

 

- Revenue from continuing operations increased by 3.6% to R63.7 billion (FY19: R61.5 billion). Even though shops where closed for month they increased revenue.

 

- The trading performance resulted in lower inventory levels and very strong cash generation. This, in addition to the accelerated bookbuild completed in June 2020 which raised R1.9 billion, enabled the group to reduce net debt from R14.1 billion at 31 March 2020 to c.R7.0 billion at 30 September 2020 (excluding the adoption of IFRS 16).

 

- Not so great that we had another 5 Billion Rand impairment (Non-cash to note) which again led to a loss for the period.

 

But overall we are on track!! 

Pepkor shares already up 6% on the news

[Investment novice]

Ag shame Tom, eyesight going...thanks for red bolded font

[Everlearning]

Hi Tom,

 

Not so, nothing has changed for Steinhoffs situation, they are still on track as per the strategy announce on the 4th.

 

You 'printed' part of today's announcement but missed the most critical sentance which I now include !!!

 

"The relevant vote is not material and does not change the overall effect of the approvals

received."

 

I am very happy with the progress that is being made, although like us all, would naturally like it all to happen a litte quicker than it has. However, (as has been highlighted repeatedly in this forum) the task at hand for management has been mammoth and what they have achieved so far bodes very well for the future. 

 

I remain long and will keep accruing!!!

[Tom]

"a vote of one financial creditor was incorrectly recorded as a consent whereas it was in fact a rejection"

"Steinhoff did not achieve the required support of 100% of the SEAG Facility A1 Creditor and the SEAG Facility A2"

"Steinhoff did not achieve the required support of 100% of the SEAG Facility A1 Creditors and the SEAG Facility A2 Creditor which in any event will be the subject of the proposed UK scheme of arrangement.

 

This is a disaster for Steinhoff.

Edited by Tom, 06 November 2020 - 12:22 PM.

[DeltaHedge]

Yuslike she just can’t carry to that R2

[BradH]

DeltaHedge, on 05 Nov 2020 - 5:34 PM, said:

What’s up with the exchanges ? 8 percent up in SA and down 9 percent in Germany ?

 

The JSE will most likely balance itself with EU prices with a hefty drop at the open of markets this morning. 

[DayTraderDad]

DeltaHedge, on 05 Nov 2020 - 5:34 PM, said:

What’s up with the exchanges ? 8 percent up in SA and down 9 percent in Germany ?

The reason for the fall

https://news.sky.com...-areas-12124387

[DeltaHedge]

What’s up with the exchanges ? 8 percent up in SA and down 9 percent in Germany ?

[Sleepwa123]

Tom, on 04 Nov 2020 - 6:39 PM, said:

I think the group opposed maybe could be LSW, a German entity associated with Seifert.

 

Seems like its Centerbridge Partners which is a major shareholder in the Conservatorium. They are a vulture lender who go after debt instruments from struggling companies and buy these instruments at a discount from existing lenders.

 

One interesting thought that I read about was that they opposed the settlement as a means to earn a little extra interest on the Steinhoff debt instruments that they own. Kicking the bucket down the road is a win for them as the risk doesn't change, if anything the risk of default is now less and they can still earn a little extra.

Once Steinhoff gets this deal through, they will then have a viable business and can refinance their debt at much lower rates.