15225 replies to this topic

[LarryK]

DTD

You dragging this out is distracting from the actual topic.

I cannot recall anything Zanme said that’s illegal. He has a right to his opinion.

Also, I did have a similar discussion with Zanme and other persons on here.
You are overly sensitive and seems to look for ways to make things about yourself and/or personal and I’m not willing to enter into a further discussion with you. It’s not constructive.

Now can we please stop this and focus on Steinhoff.

[DayTraderDad]

LarryK, on 30 Oct 2020 - 11:14 AM, said:

DTD - my point about LDP’s salary is not about where he is paid and how much. I too don’t live in SA and I get paid in USD. My point is - Zanme has his right to his opinion - just as you have repeatedly said the same stuff over and over again, so does anyone on here have the right to say what they feel as long as it’s not against the site’s posting policy.

Let’s stop making/taking things personal. I really appreciate ALL decent comments on here and believe everyone has a right to share their thoughts.
 

Right to opinion is one thing but right to insulting is another. I will again defend LDP if anyone comes here insulting the guy without asingle shead of evidence.

 

Lets do a test: Do you believe if LDP knwe Zanme and took him to court what do you think would be the outcome??? Once you answer that you have your answer too. Its illigal to damage a character of a person without proof!!!

 

There is nothing personal here its about me supporting the management that I believe in and to this date has delivred under great criticism and dificult situation which by the way no one in this forum has any idea.

 

So you then agree when people call me a con and insult me that´s ok for you is it not? Never seen anything from your then coming on the forum defending me!!!

[Tom]

STEINHOFF INV HLDGS PREF

 

2020/10/30    13:30

 

Annual Results For The Year Ended 30 September 2018

Steinhoff Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1954/001893/06)
JSE Code: SHFF
ISIN: ZAE000068367
("Steinhoff Investments", "Company" or the "Group")


ANNUAL RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2018


1. SALIENT FEATURES

    •   Revenue from continuing operations increased by 11% to R64.3 billion for the year ending 30
        September 2018 (“FY 2018â€) from R58.0 billion in the previous year (“FY 2017â€).
    •   An operating loss, from continuing operations, of R428 million was recorded for FY 2018,
        reduced from an operating loss of R4.3 billion in FY 2017.
    •   Headline earnings per share improved from a loss of 14 368.8 cents for FY 2017 to a loss of 2
        297.1 cents in FY 2018.
    •   Basic earnings per share improved from a loss of 11 424.1 cents for FY 2017 to a loss of 6 540.0
        cents in FY 2018.
    •   Two preference share dividends were declared, as set out in the terms of the preference
        shares: a dividend of 427.42 cents per share was paid in July 2018, a decrease of 2% compared
        to the prior corresponding period (2017: 436.38 cents per share) and in August 2018 a
        dividend of 424.06 cents per share was paid, an decrease of 1% compared to the prior
        corresponding period (2017: 429.56 cents per share).


2. OVERVIEW

    Steinhoff Investments is a wholly-owned subsidiary of Steinhoff International Holdings N.V.
    (“Steinhoff N.V.â€) and is the issuer of variable rate, cumulative, non-redeemable, non-
    participating preference shares with a capital value of R1.5 billion. The preference shares are listed
    on the JSE. Following the events of December 2017, Steinhoff Investments was unable to publish
    its Consolidated Financial Statements within the prescribed timeframe and the listing of the
    preference shares was suspended by the JSE, effective 1 March 2018, and has remained
    suspended since that date. The audited 2019 Annual Financial Statements were issued on 29 May
    2020 ahead of the release of the delayed Annual Financial Statements for the years ended 30
    September 2016, 2017 and 2018 in order to give the market the most recent financial information
    as soon as possible. The unaudited and unreviewed 2020 Interim Results were issued on 3
    September 2020 and the audited 2016 and 2017 Annual Financial Statements were then released
    on 2 October 2020.
    The release of these 2018 audited Annual Consolidated Financial Statements brings the annual
    financial reporting back up to date.


3. DIVIDEND DECLARATION – ORDINARY SHARES

   During the 2018 Reporting Period, Steinhoff Investments declared and paid a distribution to its
   shareholder, Steinhoff N.V. The distribution of R2.2 billion was made from reserves.


4. AUDIT

   These FY 2018 Annual Consolidated and Separate Financial Statements have been audited by the
   Company’s auditors, Deloitte & Touche, who expressed two modified audit opinions thereon. The
   modified audit opinions included:
   a) a disclaimer of opinion on the consolidated financial statements;
   b) The basis of the disclaimer being going concern, material uncertainties relating to litigation,
       taxation effects of the prior period restatements and adjustments, control conclusions on
       certain entities and related parties, financial information used for the consolidation, the
       recoverability of loans to related parties, the Lancaster 102 Proprietary Limited preference
       shares and uncertainty regarding comparability of information;
   c) a disclaimer of opinion on the separate financial statements;
   d) material uncertainties relating to going concern, litigation, and taxation; and
   e) reference to a reportable irregularity reported to IRBA.

   The full auditor’s reports, included in the 2018 Annual Consolidated and Separate Financial
   Statements, explains the reasoning for the modifications.

   Deloitte and Touche reported a reportable irregularity regarding Steinhoff Investment Holdings
   Limited’s non-compliance with the JSE Listing Requirements as they relate to timeous financial
   reporting of listed entities.
   The issuance these 2018 annual financial statements effectively resolves the Reportable
   Irregularity, as far as it pertains to the 2018 reporting period.


5. SHORT-FORM ANNOUNCEMENT

   This short-form announcement is the responsibility of the directors of the Company. It is only a
   summary of the information in the consolidated and separate financial statements (“Full
   Announcementâ€) and does not contain full or complete details. This announcement has not been
   audited but extracted from the audited results. The Full Announcement includes the auditor’s
   report and can be found at:
   https://senspdf.jse.co.za/documents/2020/JSE/ISSH/SHFFH/SHFF_FY18.pdf
   and also on Steinhoff N.V.’s website http://www.steinhoffinternational.com or may be requested
   in person, at the Company's registered office or the office of the sponsor, at no charge, during
   office hours.
   Any investment decisions by investors and/or preference shareholders should be based on all
   financial information released, including the 2018 Annual Consolidated and Separate Financial
   Statements as a whole.
   These annual results have been prepared under the supervision of TLR de Klerk (director); BCom
   (Hons), CTA, HDip (Tax), CFM.


JSE Sponsor: PSG Capital

Stellenbosch, 30 October 2020

Date: 30-10-2020 01:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Edited by Tom, 30 October 2020 - 01:50 PM.

[LarryK]

DTD - my point about LDP’s salary is not about where he is paid and how much. I too don’t live in SA and I get paid in USD. My point is - Zanme has his right to his opinion - just as you have repeatedly said the same stuff over and over again, so does anyone on here have the right to say what they feel as long as it’s not against the site’s posting policy.

Let’s stop making/taking things personal. I really appreciate ALL decent comments on here and believe everyone has a right to share their thoughts.

DayTraderDad, on 30 Oct 2020 - 10:13 AM, said:

If anyone is buying shares because I said the train is leaving the station then they deserve to loose their money.

NO ONE SHOULD TRADE ON TIPS. IF A PERSON IS SO LAZY THAT CANNOT DO ITS OWN HOMEWORK ON INVESTING HE SHOULD HANDOVER THEIR MONEY TO A WEALTH MANAGER.

Guess what I am living in the Netherlands and know exactly what are the salaries in Europe. I also know you may work for the top company in the world but if employed in SA your salary will be in Rands and a person employed in Netherlads will be paid in EUROS. It is not the guys working in Europe that the Rand has devalued so badly that now is close to 20 to the Euro. Surely you would be the first one to know that.

Take for example an accountant salary in SA devid it by 20 and you will never find an accountant in Netherlands willing to work for that money because he would make more working for JUMBO on the till with less responsibilities.

i have never gone out of myway to insult anyone. I simply defend myself because like Captain once said "The only way for evil to prevail is for good to do nothing"

Thanks enjoy your green beer too!!!

[Investment novice]

Bad bad bad....jooste must forst settle against snh before he settles against others....stand in line...

[DayTraderDad]

Polla, on 30 Oct 2020 - 08:32 AM, said:

https://www.news24.c...rading-20201030

Excellent!!!

[DayTraderDad]

LarryK, on 30 Oct 2020 - 08:35 AM, said:

DTD -

1. I work for a Fortune 500 company, I know how much they earn. Zanme still has the right to his opinion.

2. Your comments about the train leaving the station and other pumps might have led to people buying this share and possibly losing money.

3. Zanme owes you nothing. Neither does anyone. You have zero right to demand some plan or explanation from him or anyone else. You are not the moderator of this forum.

4. Next time, before you bring up cyber bullying, look at some of your previous comments too...

5. Have a green beer and chill, it’s the weekend

If anyone is buying shares because I said the train is leaving the station then they deserve to loose their money.

 

NO ONE SHOULD TRADE ON TIPS. IF A PERSON IS SO LAZY THAT CANNOT DO ITS OWN HOMEWORK ON INVESTING HE SHOULD HANDOVER THEIR MONEY TO A WEALTH MANAGER.

 

Guess what I am living in the Netherlands and know exactly what are the salaries in Europe. I also know you may work for the top company in the world but if employed in SA your salary will be in Rands and a person employed in Netherlads will be paid in EUROS. It is not the guys working in Europe that the Rand has devalued so badly that now is close to 20 to the Euro. Surely you would be the first one to know that.

 

Take for example an accountant salary in SA devid it by 20 and you will never find an accountant in Netherlands willing to work for that money because he would make more working for JUMBO on the till with less responsibilities.

 

i have never gone out of myway to insult anyone. I simply defend myself because like Captain once said "The only way for evil to prevail is for good to do nothing"

 

Thanks enjoy your green beer too!!! 

[Lionelza1]

Lionelza1, on 30 Oct 2020 - 10:05 AM, said:

Reached a high of 90c, no further run up at all today which makes yesterday's news insignificant

Insignificant perhaps being the wrong word.

Yesterday's news not the kinda news that will make this share Rally for atleast 5 consecutive days.

I'm expecting to see the drop, then the slow poison

[Lionelza1]

Reached a high of 90c, no further run up at all today which makes yesterday's news insignificant

[Tom]

"

Markus Jooste in court to gain access to PwC’s Steinhoff report

 

In an effort to dispute the legal privilege argument, Jooste’s application to the court states: “It does not appear that the PwC report was brought into existence for the purpose of pending or contemplated litigation. On the contrary, it appears PwC’s investigations and report were undertaken for the principal purpose of establishing, and enabling Steinhoff to report on, its actual financial position.”

 

...the Independent Board for Auditors (IRBA)  has confirmed to BM that the PwC still refuses to give the regulator access to the report, citing legal privilege.

IRBA declined to reveal whether it has or will resort to litigation to get access to the audit findings, which is fundamental to its own investigations into Deloitte, the external auditor during Jooste’s tenure that signed off on the fraudulent financial statements over many years.

Steinhoff shareholders also demanded the report’s release at the company’s last AGM, but found no joy in their protest. The Financial Mail (FM) and amaBhungane have both lodged an access to information request for the full report.

"

[Tom]

So the fine money of R.122 or 123 or 161 or 241 or ...  goes to the directly to the aggrieved, or they get it "partially" as services ..... wink wink

Edited by Tom, 30 October 2020 - 11:57 AM.

[LarryK]

DTD -

1. I work for a Fortune 500 company, I know how much they earn. Zanme still has the right to his opinion.

2. Your comments about the train leaving the station and other pumps might have led to people buying this share and possibly losing money.

3. Zanme owes you nothing. Neither does anyone. You have zero right to demand some plan or explanation from him or anyone else. You are not the moderator of this forum.

4. Next time, before you bring up cyber bullying, look at some of your previous comments too...

5. Have a green beer and chill, it’s the weekend

[Polla]

https://www.news24.c...rading-20201030

[DayTraderDad]

DayTraderDad, on 30 Oct 2020 - 07:13 AM, said:

The fact that I make statements on the train leaving the station is just my opinion and is not ofending anyone further dont give two hoots what others think about it as long as I am not insulted being called a con etc. but I guess for that i ok.  How would you feel if I kept going on this forum saying LarryK is a bulshitxxer, crook etc?

You cannot compare the two. I dont agree, reason being no one can insult in open forum others. Do you realy believe if Zanme was not operating annonimous would say the same statements. Insulting people annonymosly is called cyber bullying I stood up to Polly and will do so again to anyone that disrespect people. No one has the right to insult people that they dont know or even are well informed what is the situation. Further I challanged Zanme to come up with a plan how he would change things and guess what the usual nothing!!! So please before preaching take care of see the right of people both sides not only from one side 

Further Zanme is totslly incorrect about the salary because he fails to understand SNH is a Dutch company and therefore pays Dutch salaries imaterial where the CEO likes and works. Take some time to go and find out how much money other CEO´s make in Europe then we talk again!!!

[DayTraderDad]

LarryK, on 30 Oct 2020 - 06:30 AM, said:

Dtd - they have a right to their opinion. They don’t need to have evidence for everything and you have no right to judge them or demand anything from them.
You have been going on about the train is leaving the station for years, but in reality you’ve been wrong. So your opinions are also mostly false - proof that none of us know what’s going on.

Also, there’s no sides here. There’s people sharing their options. Zanme is correct about the salary LDP gets as well as the fact that so far it has not resulted in increased shareholder value.

The fact that I make statements on the train leaving the station is just my opinion and is not ofending anyone further dont give two hoots what others think about it as long as I am not insulted being called a con etc. but I guess for that i ok.  How would you feel if I kept going on this forum saying LarryK is a bulshitxxer, crook etc?

You cannot compare the two. I dont agree, reason being no one can insult in open forum others. Do you realy believe if Zanme was not operating annonimous would say the same statements. Insulting people annonymosly is called cyber bullying I stood up to Polly and will do so again to anyone that disrespect people. No one has the right to insult people that they dont know or even are well informed what is the situation. Further I challanged Zanme to come up with a plan how he would change things and guess what the usual nothing!!! So please before preaching take care of see the right of people both sides not only from one side 

[LarryK]

Shouldn’t these business units have fidelity insurance?
I assume yes, but there will be a lot of information required to file these claims which might be a reason why the investigation is so thorough.

[LarryK]

Dtd - they have a right to their opinion. They don’t need to have evidence for everything and you have no right to judge them or demand anything from them.
You have been going on about the train is leaving the station for years, but in reality you’ve been wrong. So your opinions are also mostly false - proof that none of us know what’s going on.

Also, there’s no sides here. There’s people sharing their options. Zanme is correct about the salary LDP gets as well as the fact that so far it has not resulted in increased shareholder value.

[DayTraderDad]

LarryK, on 29 Oct 2020 - 11:40 PM, said:

Agee, we are supposed to discuss the topic and not get personal.

I personally feel Zanme is harping on a bit too much about LDP, but THIS IS HIS RIGHT TO SHARE HIS OPINION and I quite enjoy reading some of his, and others like Tom and Lionel’s thoughts.
 

Sure you are correct I also have the right to defend the management I support. No one has the right to openly insult anyone without a single shread of evidence especialy when done all the time.

[LarryK]

Agee, we are supposed to discuss the topic and not get personal.

I personally feel Zanme is harping on a bit too much about LDP, but THIS IS HIS RIGHT TO SHARE HIS OPINION and I quite enjoy reading some of his, and others like Tom and Lionel’s thoughts.

Bubble, on 29 Oct 2020 - 08:49 AM, said:

DTD , please keep to constructive. Your responses are often uncalled for. (I am sure I speak for most)

[Investment novice]

In the same light snh holdings also would be offered a settlement or entitled a stettlement to close out this.
Look forward to the coming weeks.
Rwgarding lockdown europe is at the second peak and their lockdown is not as rediculously restrictive as their first...awaiting further info on that....