
Steinhoff
#6121
Posted 25 September 2020 - 08:47 PM
Until there is no news price goes anywhere....
#6122
Posted 25 September 2020 - 06:44 PM
I will hold this equity until we know whether the settlements in their majority, have been rejected or accepted and will only reevaluate then.
In the meantime, I am not interested in whether the share price goes to 10c or 1c. This share, in my opinion, is being driven by emotion/fear/insecurity (more so than usual with equities) and emotion plays no role over the longer term.
The settlements will either be accepted or declined - if accepted there will be a solid, clear foundation from which to work - if not accepted - it's going to be brutal for all including the claimants and their high cost attorneys. I for one am of the belief that the claims will be accepted because the alternative is mutually assured destruction for everyone. As I say, on this specific occasion, these <80c levels are horrible to see however, I will steer the course until I know the plan has failed.
And yes, I am more than willing to accept that I may be wrong, however I feel it is still to early to call the plan a failure.
Thank you for the response.
However you didn't answer the question or maybe didn't understand where i was coming from.
At R2.00 to 0.70c some folks making arguments here which you seem to agree with that LDP is trying to prove poverty so as to get the claimants to accept the so called offer. Now if the price fell to R0.10c on Monday will you still accept that same poverty argument?
That is my question which has nothing to do with what you will do with your shares. That is your business..
My Point:
Reading through this thread day in day out , you will notice same posters who have a major holding/ interest in this company at much higher costs and who will find every positive reason to post, when share price drops , that its actually for a good reason which helps Steinhoff .Typical of a good salesman trying to sell you a product.
This kind of posting which has been going on from the time the share was R20.00 ( initial drop), has already and will create a whole lot of " BAG HOLDERS" which it has certainly done reading by the amount of new members who have crept out of the woodwork and who still think this share has value because of misinformation being posted here on a daily basis. ( like a tape recorder or a professional salesman using the same pitch day in and day out). Figures of price projection to R25.00 and dividends within 2 years , multinational conglomerate, cheaper zero interest rates in Euro and so forth...make ones head spin..
PS : If it is indeed LDP intention to plead poverty and im sure its not , then doesn't that make him an unhonourable person exactly like Jooste? Someone who is trying to mislead or lie. Surely you would not want a person with these kinds of morals to be running your company.
#6123
Posted 25 September 2020 - 05:52 PM
Why dont we just spend 5 minutes reflecting in what happenned:
1 - 2017 December the wheels fell off and everybody saying that SNH was going bust then,
2 - Successful implementation of CVA,
3 -All loss making business sold off with good timing and no fire sale.
4 - Now sorting out claims in a settlement. Claimant have no option but to accept because alternative i ZERO because creditors have first right on money left at liquidation.
5 - PEPCO continues to grow at fast rate above 15%, Mattress Firm now profitable, PEKPOR got rid of loss making building business and Greenlit Brans now also profitable possible IPO for Aus$ 1 Bil.
6 - In 2023 the IPO for PEPCO Group which I believe will be valued at Euro 6.5 bil because was already valued at 4.5 bil in 2019.
7 - Once the claims are settled then I am very sure SNH will be getting that cash back from Deloite and implicated persons. So settlement cash neutral
8 - When all this is done we going to say whow after all Supervisory Management and LDP were very good.and everybody is very happy.
Nice weekend all!! Time for green beer!!!
All financilas now up to date.
#6124
Posted 25 September 2020 - 05:40 PM
Why dont we just spend 5 minutes reflecting in what happenned:
1 - 2017 December the wheels fell off and everybody saying that SNH was going bust then,
2 - Successful implementation of CVA,
3 -All loss making business sold off with good timing and no fire sale.
4 - Now sorting out claims in a settlement. Claimant have no option but to accept because alternative i ZERO because creditors have first right on money left at liquidation.
5 - PEPCO continues to grow at fast rate above 15%, Mattress Firm now profitable, PEKPOR got rid of loss making building business and Greenlit Brans now also profitable possible IPO for Aus$ 1 Bil.
6 - In 2023 the IPO for PEPCO Group which I believe will be valued at Euro 6.5 bil because was already valued at 4.5 bil in 2019.
7 - Once the claims are settled then I am very sure SNH will be getting that cash back from Deloite and implicated persons. So settlement cash neutral
8 - When all this is done we going to say whow after all Supervisory Management and LDP were very good.and everybody is very happy.
Nice weekend all!! Time for green beer!!!
All financilas now up to date.
#6125
Posted 25 September 2020 - 05:10 PM
#6126
Posted 25 September 2020 - 04:56 PM
#6127
Posted 25 September 2020 - 04:51 PM
We are not paying Louis R55 million to whine at AGM'S with that sort of money the guys should be walking on water.
Haha Zanme again dont forget LDP is working for a European company and R55 mil is only Euro 2.7 mil not exactly a huge salary for a CEO in europe.
#6128
Posted 25 September 2020 - 04:47 PM
Daddy I have Tongaat and feel good about it. I am in Steinhoff and believe that with managements correction it will be a great company. I don't think you read too well what others write. I wouldn't have invested in Steinhoff if I didn't think that they it has potential and gave management a chance. They failing us so they must go why should I????
Haha I can read very well but gets boring reading the same old old. I think you now have said over 10 times management is useless we all go it.
But the reality is you have no clue exactly what is happening behind the scienes. What if they are actually doing a great job in extremily circumstances. The fraud in Tongaat was a sunday school picknick compared to the SNH issues.
Very strange shareholders rejected the financials but I heard not one single shareholder asking for management to resign due to poor performance.
#6129
Posted 25 September 2020 - 03:51 PM
And lets assume the share price falls On Monday to 0.10c. Then will you use the same argument as Andis?
Please be honest with your reply.
This argument has been used from R2.00 and lower so why not 10c
I will hold this equity until we know whether the settlements in their majority, have been rejected or accepted and will only reevaluate then.
In the meantime, I am not interested in whether the share price goes to 10c or 1c. This share, in my opinion, is being driven by emotion/fear/insecurity (more so than usual with equities) and emotion plays no role over the longer term.
The settlements will either be accepted or declined - if accepted there will be a solid, clear foundation from which to work - if not accepted - it's going to be brutal for all including the claimants and their high cost attorneys. I for one am of the belief that the claims will be accepted because the alternative is mutually assured destruction for everyone. As I say, on this specific occasion, these <80c levels are horrible to see however, I will steer the course until I know the plan has failed.
And yes, I am more than willing to accept that I may be wrong, however I feel it is still to early to call the plan a failure.
#6130
Posted 25 September 2020 - 03:30 PM
If he gets the share price to R5 than maybe he has done something worth talking about. Otherwise he is really not worth a cent.
I personally think he is useless
#6131
Posted 25 September 2020 - 03:27 PM
With EOH if they meet their debt payments for November and January - you looking at a completely different business. The value of the consultants I can see. Steinhoff on the other hand is a complete waste of time and money. I am glad I got out only 20% down. Polly was 100 % right. This is going all the way to zero.
Watch out...some good company with lots of dirty laundry...there is a still a law suit coming as shareholders can sue....and even if they can't won they can force settlement...eoh...lots still to clean...still investigation outstanding....sars issues....hopefully by next year will be a cleaner company.....
See how this share has been punished and even recently retraced to r4
#6132
Posted 25 September 2020 - 03:24 PM
#6133
Posted 25 September 2020 - 03:11 PM
Andi and others - myself included, feel that the current share price (as bitter a pill as it is to swallow) is probably more likely to secure a lower settlement.
And lets assume the share price falls On Monday to 0.10c. Then will you use the same argument as Andis?
Please be honest with your reply.
This argument has been used from R2.00 and lower so why not 10c
#6134
Posted 25 September 2020 - 02:55 PM
Daddy I have Tongaat and feel good about it. I am in Steinhoff and believe that with managements correction it will be a great company. I don't think you read too well what others write. I wouldn't have invested in Steinhoff if I didn't think that they it has potential and gave management a chance. They failing us so they must go why should I????
I genuinely would like to understand how you are thinking as it means I may have misread what I think the strategy is.
If I am understanding you correctly, your view is that LDP and his team have failed because the share price is where it is?
Perhaps like most shareholders, you would also agree with the notion that the settlement of claims is the next critical step in the recovery?
Now, given the above, do you think a higher share price is likely to assist in the settlement of these claims or not?
Andi and others - myself included, feel that the current share price (as bitter a pill as it is to swallow) is probably more likely to secure a lower settlement. If they manage to settle for R16.5 billion LDP and his team will easily have earned the R55 million you refer to - at the very least having saved SNH shareholders tens of billions and at worst, preventing bankruptcy.
With respect, LDP may fail in this endeavor however, you surely owe it to yourself to acknowledge the strategy may not be as you imagine it.
#6135
Posted 25 September 2020 - 02:19 PM
#6136
Posted 25 September 2020 - 02:14 PM
#6137
Posted 25 September 2020 - 12:38 PM
You guys contribute your fantasies. His contribution were factually all wrong. So was yours. Polly was right in hindsight he was the only one on this forum that was 100 percent correct. I wonder why you guys got rid of him. Now I know whatever you guys say I will do the opposite. Tongaats directors are already buying shares.
Yes Polly was very smart I remember telling to buy Delta Propertie because was going to fly well over the R2 however its below 30cts now. There is absolutly no comparison between Tongaat and Steinhoff but why dont you forget about this useless SNH share and its useless mamagement and buy Tongaat?
#6138
Posted 25 September 2020 - 11:42 AM
Lionel Market not taking about LDP its talking about the claims greedy shareholders have put in place. Tell me what will be the SNH price once the claims are settled?
Not greedy shareholders.... Shareholders got screwed o er by previous snh management.
I'm counting on LDP's network to sort out litigation etc but so far not looking good! I like what bushman Bob had to say tho, the final whistle hasn't blown yet.... I sure the *** hope the dnt také this into extra time
#6139
Posted 25 September 2020 - 11:41 AM
#6140
Posted 25 September 2020 - 11:15 AM
If u don't like management? That must be the dumbest thing I've read... It's not about liking or disliking, it's about doing the job, and so far.. We'll.. Market is talking
Lionel Market not taking about LDP its talking about the claims greedy shareholders have put in place. Tell me what will be the SNH price once the claims are settled?