15225 replies to this topic

[Investment novice]

This news is good for two reasons..entrenches the base....but importantly will see more energy. The news is great, but we need better....may see pump and dump...if you not on board don't lose heart lots of time to load.....will also see us and downs....whats a worry was the pull back after the initial flurry. Lets see what Monday brings. .could be a 3 day pump to r1.20 or more...and then rebate and then 6 weeks when we get more news...
Great sens out.....finally....something good for us.....patience........remember we have time to load all the weay for the next few weeks.....

[DayTraderDad]

I have been analysing the Sens anouncment wording and comment the following:

 

1 - is providing the following updates on the settlement process:

 

Implementation Progress - This heading says alot we are talking about implementation

 

Launch of Consent Request to Financial Creditors -  This heading means an assessment has been completed so now a formality to get approval from creditors.

 

2 - Breaking the first heading down:

 

Implementation Progress

 

"real progress has now been made to clarify key points and to continue the

preparatory work necessary to implement the proposal and to settle the various claims against

Steinhoff.While further work is required to achieve this outcome, including securing the support of

certain counterparties who have not yet agreed to do so, the process remains on track" 

 

The important words for me: a) real progress continue preparatory work necessary to implement c) Counter part not yet agree but process is on track - for me that means not agreed but in process of getting agreement.

 

Launch of Consent Request to Financial Creditors

 

A consent request has been launched today to obtain the formal support of the

financial creditors to the terms and proposed implementation of the settlement. 

 

The words Formal support means they have already verbal support now just to put it in paper. the proposed implementation of the settlement tell me there is agreement of the settlement otherwise how can you ask creditors to agree to something that is not greed???

 

Anyway just some thoughts nice weekend everyone!!

[DayTraderDad]

With you on that one.... Seen many times the pump and the dump!

Or if it goes over R4 game on... For now I sip on green beer and watch

Haha Lionel you remember the words "You snoze you loose" I you bought at R0.76 and gets to your R4 then you would have made 426%. You recall mesaying I keep on buying!!!! So whats the logic to wait for the share to rise 426% then invest??? Haha becareful too many green beers makes your head fuzzy!!!

[Lionelza1]

I will only feel truly comfortable and confident once some big biy investors jump onboard. Once they are in then I would view it as a success and pump some more buffaloes in, and a Leopard or two.

With you on that one.... Seen many times the pump and the dump!

Or if it goes over R4 game on... For now I sip on green beer and watch

[BradH]

I will only feel truly comfortable and confident once some big biy investors jump onboard. Once they are in then I would view it as a success and pump some more buffaloes in, and a Leopard or two.

[DayTraderDad]

Well daddy it's far off from the R3 level for me to make anything decent. There is nothing spectacular being done. And his salary is still excessive. If you feel that its based on the fact that they listed offshore than they must delist there. Number of companies are doing that. So in summary there are great assets in Steinhoff what he is doing in my opinion is logical nothing out of this world and his salary needs to come down. SO THAT I CAN MAKE MORE MONEY HE DOESN'T PAY MY BOND.

Yes keep a close eye on Monday you may be plesantly surprised. One thing people are not understanding the only reason SNH now going to ask for creditors blessing is because the settlement will be concluded. Would not make sense to go to creditors before reaching agreement with claimant.

[BradH]

This case between CW and Conservatorium could tale years to settle. The lawyers will surely want to milk it for all its worth.

The "counterparties" is the problem, that is Conservatorium, blocking the CW settlement, and without that settlement they do not have 75% to implement. When that is done, I will give LDP 1 "like", but still not an EU salary.

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[DeltaHedge]

If I read the SENS correctly this litigation will be settled before Christmas..... would be a nice Christmas present

 

they better perform on this otherwise share price will reverse and more than it went up

[Bubble]

The "counterparties" is the problem, that is Conservatorium, blocking the CW settlement, and without that settlement they do not have 75% to implement. When that is done, I will give LDP 1 "like", but still not an EU salary.

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[Polla]

If I read the SENS correctly this litigation will be settled before Christmas..... would be a nice Christmas present

[Polla]

If I read the SENS correctly this litigation will be settled before Christmas..... would be a nice Christmas present

[Zanme]

So looks like the no good LDP is actually succeeding!!!! So what do you say now ZANME??????

Implementation Progress

Steinhoff has been in active discussions with litigants, their legal representatives, creditors and other relevant parties throughout the period since the July Announcement. While the number of parties involved, across multiple jurisdictions, has made the process more complex and time-consuming than originally anticipated, real progress has now been made to clarify key points and to continue the preparatory work necessary to implement the proposal and to settle the various claims against Steinhoff. While further work is required to achieve this outcome, including securing the support of certain counterparties who have not yet agreed to do so, the process remains on track.

Well daddy it's far off from the R3 level for me to make anything decent. There is nothing spectacular being done. And his salary is still excessive. If you feel that its based on the fact that they listed offshore than they must delist there. Number of companies are doing that. So in summary there are great assets in Steinhoff what he is doing in my opinion is logical nothing out of this world and his salary needs to come down. SO THAT I CAN MAKE MORE MONEY HE DOESN'T PAY MY BOND.

[Leadingedge]

I am very happy to see Tradegate close 20% up. Clearly this is the news mr market was waiting for as recent runs like this would have been quickly retracted during the same session. I especially like the look of the last hour of trade. Funny that the SA market did not react much at all, I am amazed that this news was kept a secret up until now. Call me ignorant, but I take the fact that this didn't leak in a very positive manner, as it shows how seriously that matter is being taken.

[DayTraderDad]

So looks like the no good LDP is actually succeeding!!!! So what do you say now ZANME??????

 

Implementation Progress

 

Steinhoff has been in active discussions with litigants, their legal representatives, creditors and other relevant parties throughout the period since the July Announcement. While the number of parties involved, across multiple jurisdictions, has made the process more complex and time-consuming than originally anticipated, real progress has now been made to clarify key points and to continue the preparatory work necessary to implement the proposal and to settle the various claims against Steinhoff. While further work is required to achieve this outcome, including securing the support of certain counterparties who have not yet agreed to do so, the process remains on track.

[LarryK]

🙌

[DayTraderDad]

 When will we know for sure this thing is going through ?

it will go though just sit tight.

 

Poundland on buying spree!!!

 

https://retailanalys...n-foods/i/26877

[DeltaHedge]

Up over 30% and climbing

When will we know for sure this thing is going through ?

[Investment novice]

Up over 30% and climbing

[Leadingedge]

Positive reaction on Tradegate, almost 23% up! Lets hope this news is good enough to maintain the momentum.

[nosh]

Guys SENS is out.

Looks very promising that it will be a success!!!!!!!!!!!!

There is progress

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If the settlement proceeds it will result in:
 up to EUR266m being paid in settlement of market purchase claims against the
Company and SIHPL;
 approximately EUR104m being paid in settlement of claims of contractual
counterparties against the Company and approximately ZAR9.4bn being paid in
settlement of such claims against SIHPL;
 a significant majority of claims are within the scope of the settlement however certain
claims will not be settled and will be subject to ongoing dispute;
 settlement consideration will be paid in cash and delivery of shares in the South African
subsidiary Pepkor Holdings Limited (“PPH”) at a deemed price of ZAR15 per share.
Separate arrangements are being proposed for claimants who are also PPH managers;
 the Company estimates that if the maximum PPH shares are applied in settlement, the
remaining shares indirectly held by the Company in PPH will be in excess of 50 per cent
of the total share capital of PPH; and