15225 replies to this topic

[andi222]

Guys, if you need updates regarding the claims register here for updates:

 

https://www.steinhof...tion-claims.php

[andi222]

Vanguard has acquired a big portion of the shares!!! Close to 3%. 

 

https://www.mornings...e/snh/ownership

[Investment novice]

I disagree.steinhoff management have salvaged this company.dont be dismayed by these small share drifts.
They have set up the company for future growth.we have litigation almost sorted.they also will have a counter suit . Mf and pepkor growth.
Refinaced debt potentially significatly lower rates.
At the current share price....cheap and loom forward to this share increasing significantly

Sent from my SM-G950F using Sharenet Sharechat mobile app

[Zanme]

Louis Du Preez is sorted with his annual rem at R50 million. Wiese who should be liable is getting what he wanted after throwing his toys. He must be in prison together with the other board members. They all covering themselves and protectimg parties with power. The current shareholder base is not of any concern of theirs they focussed on the buddies in Stellenbosch and banks. This management team is a major disappointment and i really feel that their behavior has never been in the interest of shareholders.

[Zanme]

So we only ones losing big time. Why did they go down the road of paying consultants etc to arrive at the same answer. The Stellenbosch bunch are the beneficiaries here where we continue to hold and loose. It doesn't sound equitable at all.

[Everlearning]

Given the manner in which the management have handled the turnaround to date, my sense is that they would have already canvassed and in principle sought the creditors consent. I dont think they would have gone to this trouble if there was any chance of their proposal not suceeding. 

 

Clever to seprate te claimants into 3 groups (pools) as this woulld allow them to proceed with the settlements to the extent that the 'pools' accepted. if the likes of Tekkie Town did not go along, this litigation could be handled seperately.

 

Think we will see more announcements of acceptance shortly !

[Tom]

https://www.moneyweb...st-endorsement/

"

One analyst said that securing the necessary backing of the creditors might be the biggest challenge, as it meant that the asset value backing their claims would be reduced by €1 billion.

“They might prefer that Steinhoff takes its chances with prolonged legal action, especially if they’re earning a good return on their lockup agreement,” said the analyst.

"

 

[Tom]

"

Other parties claiming against Steinhoff SA include former banker GT Ferreira, who is expected to receive a R421 million payment

.

.

.

and the Le Toit Trust, which will be awarded R227 million

"

Edited by Tom, 28 July 2020 - 11:15 AM.

[Tom]

https://www.moneyweb...st-endorsement/

 

"

the R15 valuation is underpinned by a net asset value of just over R16 a share

"

[Tom]

https://www.moneyweb...st-endorsement/

"

chair Christo Wiese looks set to be the single largest beneficiary of the proposed deal, with a possible total payment of around R9 billion

"

 

[Sleepwa123]

I'm not sure if this is a fair conclusion. Cleaning up the mess is sapping capacity that could otherwise be allocated elsewhere.

Management is balancing their resources accross so many things and unfortunately they cannot simply hire more staff because shareholders would have a field day on the increased costs associated with this.

 

 

"said Koster, adding that implementation of the proposal would allow Steinhoff to focus on the future"

 

Again Steinhoff management or a manager is issuing a statement that indicates they can't or not able to do the job (Note that several times in the past they also issued similar statements and even retracted them later).

[Investment novice]

Use this as an opportunity to buy the share....just ignore and focus on the share. I think managment suppressing share until agm to permit them to buyback a significant portion.
Wish i could prove it..either way..i am just happy i got shares this morning.....waiting for the run

Sent from my SM-G950F using Sharenet Sharechat mobile app

[Tom]

"said Koster, adding that implementation of the proposal would allow Steinhoff to focus on the future"

 

Again Steinhoff management or a manager is issuing a statement that indicates they can't or not able to do the job (Note that several times in the past they also issued similar statements and even retracted them later).

Edited by Tom, 28 July 2020 - 09:54 AM.

[Tom]

https://www.moneyweb...st-endorsement/

 

"

The proposed payment to shareholders was described by one lawyer as “surprising” in the context of the recent high court ruling in which Judge David Unterhalter refused to certify a class action, on the grounds that it would not be successful because South African common law does not provide for claims by shareholders.

"

 

Also the law in The Netherlands seams to also not be in favour of such claims.

 

[Investment novice]

Whats the tradegate volumes

Sent from my SM-G950F using Sharenet Sharechat mobile app

[Tom]

"

The MPCs are valued according to a methodology based on the extent to which the relevant Steinhoff shares were inflated in the period from 1 March 2009, which is calculated by reference to the share price decline as a result of announcements in the first week of December 2017 (the “Inflation Methodology”). The calculation is in essence as follows:  the total amount of each MPC claimant’s overpayments during the relevant period due to inflation in the price of the SIHPL or SIHNV shares on the date of each purchase thereof, less the total amount of each MPC claimant’s overcompensation during the relevant period due to inflation in the price of the SIHPL or SIHNV shares on the date of any and each sale thereof.

"

 

Anyone able to describe what this means?

 

On 1 March 2009 the share price was about 11 rands.

 

So: inflation per share = purchase price - 11 rands   ..........right?

 

On 6-12-2017 price was 25 zar

On 8-12_2017 price was  6 zar

 

share price decline as a result of announcements in the first week of December 2017 = 1-Dec-2017 price 55 zar - 11 - 25 or 6 zar = abour 19 or 38 zar   compensation per share    ........right?

Edited by Tom, 27 July 2020 - 09:01 PM.

[Tom]

Tom, does the article say something if Wiese will accept the proposal?

 

"Wiese said a settlement offer was a step in the right direction."

Edited by Tom, 27 July 2020 - 08:36 PM.

[andi222]

Tom, does the article say something if Wiese will accept the proposal?

[Tom]

"

Conservatorium:

SIHPL will dispute any and all claims made by Conservatorium Holdings LLC, any of the lenders who financed the acquisition of 314,000,000 SIHNV shares by Upington Investment Holdings B.V. (“Upington”) or their respective legal successors (as applicable) against SIHPL or any other member of the Steinhoff Group arising out of the financing of Upington acquiring 314,000,000 SIHNV shares.

"

[DayTraderDad]

What was the trade gate reaction. Have not seen the jump

Sent from my SM-G950F using Sharenet Sharechat mobile app

Not much reaction but 69 mil shares traded.  We will only see serious reactions when other accept. The importance for me is VEB being Ducth would know their option so we just need to see Germany reaction because we already know the SA courts results that claimants can expect..