15225 replies to this topic

[Investment novice]

Do we now have a going concern... With concerns....

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[DayTraderDad]

Article on FT:

The company is facing billions of dollars in lawsuits around the world alleging fraud and misrepresentation over the scandal, including from Christo Wiese, Steinhoff’s former chairman and significant shareholder.

Mr du Preez said resolving the various lawsuits against the group was “the next big project that we’ve embarked upon”.

Legal settlements would unlock options for the company to raise capital and refinance debt.

“It’s not in anyone’s interests, let alone the litigants, that this group is liquidated,” Mr du Preez said.

Thanks that sounds good. Pepkor in 2021 if listed then should have a value of 6.6 bil on its own.

[Burnt as well]

Article on FT:

The company is facing billions of dollars in lawsuits around the world alleging fraud and misrepresentation over the scandal, including from Christo Wiese, Steinhoff’s former chairman and significant shareholder.

Mr du Preez said resolving the various lawsuits against the group was “the next big project that we’ve embarked upon”.

Legal settlements would unlock options for the company to raise capital and refinance debt.

“It’s not in anyone’s interests, let alone the litigants, that this group is liquidated,” Mr du Preez said.

Edited by Burnt as well, 13 August 2019 - 08:46 PM.

[DayTraderDad]

Perhaps the disastrous communication is to present a status of hopelessness and going begging for a settlement. Demonstrating success and show boating would be counter productive.

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Yes you have a good point. I do believe they are a good management team with lots of knowledge so there must be some strategy.

[Investment novice]

Thanks this is part of the problem we just had a presentation this morning the CEO had no idea of this but then Bloomberg knows. So all this happened this morning after the presentation they got together put the names on a hat and out comes the answers!!!

The biggest enemy SNH Management has is its poor communication to the market. It was the news papers that first mention MF going for bankruptcy CH11, it was news papers that first said Conforama going to restructure and poor management is always playing catch up with the news and then not always saying the right things like CEO saying well we could be asking shareholders to do a Capital raise in 2021 to pay the lenders!!! This was the ultimate suicide note!!!

SNH management has to seriously take a hard look at its IR department there is something wrong there!!!

Perhaps the disastrous communication is to present a status of hopelessness and going begging for a settlement. Demonstrating success and show boating would be counter productive.

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[Investment novice]

Yes I agree if director see a future surely they would be buying at these levels unless they waiting for the rights offer!!

Interesting interview 702, debt prevents uptake and legal liability. Legal settlement will be imminent based on cents on the Rand or zero.... Or other settlement....

This together with improved performance and debt reduction should be positive. Long shot or only shot...

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[DayTraderDad]

Steinhoff International Holdings N.V. : SUCCESSFUL IMPLEMENTATION OF FINANCIAL RESTRUCTURING AND RELATED UPDATES

 

https://www.dgap.de/...?newsID=1183641

[DayTraderDad]

http://www.steinhoff...or-dealings.php

Should soon be filled by some

Yes I agree if director see a future surely they would be buying at these levels unless they waiting for the rights offer!!

[DayTraderDad]

Done, let’s see price tomorrow!

Steinhoff International Says SEAG, SFHG Completed Restructuring

Tuesday, August 13, 2019 08:08 PM
By Molly Kissler

(Bloomberg) --Steinhoff International announced that Steinhoff Europe AG and Steinhoff Finance Holding GmbH have completed restructuring.
Three nominated directors have been, or will shortly be, appointed to the boards of Newco 3 and certain key intermediate holding companies
The nominated directors, Helen Bouygues, Neil Brown and Paul Soldatos, will join Louis du Preez and Theodore de Klerk on these boards
David Pauker has been appointed to the board of SIHPL

Thanks this is part of the problem we just had a presentation this morning the CEO had no idea of this but then Bloomberg knows. So all this happened this morning after the presentation they got together put the names on a hat and out comes the answers!!!

 

The biggest enemy SNH Management has is its poor communication to the market. It was the news papers that first mention MF going for bankruptcy CH11, it was news papers that first said Conforama going to restructure and poor management is always playing catch up with the news and then not always saying the right things like CEO saying well we could be asking shareholders to do a Capital raise in 2021 to pay the lenders!!! This was the ultimate suicide note!!!

 

SNH management has to seriously take a hard look at its IR department there is something wrong there!!!

[MrGermanGuy]

German TradeGate jumped a bit, now it can get interesting tomorrow.

[Burnt as well]

Done, let’s see price tomorrow!

Steinhoff International Says SEAG, SFHG Completed Restructuring

Tuesday, August 13, 2019 08:08 PM
By Molly Kissler

(Bloomberg) --Steinhoff International announced that Steinhoff Europe AG and Steinhoff Finance Holding GmbH have completed restructuring.
Three nominated directors have been, or will shortly be, appointed to the boards of Newco 3 and certain key intermediate holding companies
The nominated directors, Helen Bouygues, Neil Brown and Paul Soldatos, will join Louis du Preez and Theodore de Klerk on these boards
David Pauker has been appointed to the board of SIHPL

[Investment novice]

You mean 18th should be signature?.......

Before trading update and AGM

Small hope

Group is exploring possible strategic litigation solutions
• The Group is evaluating and implementing recovery and other claims against various third parties
• Regular engagement and co-operation with various regulators

Small hope as expressed in the slide is extremely positive.
Business is cash flow positive excluding additional spend once off.
Entities turning around...
Debt managed at least confirmed next week
And litigation solution actively sought.



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[MrGermanGuy]

Really did we see 100m shares get dumped... Small volume hesitancy... Most still waiting on the final signature and sens on restructuring...
And legal black cloud will always be limiting.... But this will be a long road and there is no quick settlement...
MF... Still has value with the repositioning and renewed product lines.
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You mean 18th should be signature?.......

Before trading update and AGM

Small hope

[Burnt as well]

Positive pump expect this share to in the next few days gain ground importantly next Monday should see a spike and a new base forming... Significantly higher than where we are

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I think we all knew that this was a speculative share. Today just reconfirms that there’s very little hope of recovery....one has to be in for at least 3-5 years and hope for some miracle. But as my coach told me before “hope ain’t a strategy”

[Investment novice]

Sounds too optimistic for me, we might see
All traders , eventplayers leave today

Really did we see 100m shares get dumped... Small volume hesitancy... Most still waiting on the final signature and sens on restructuring...
And legal black cloud will always be limiting.... But this will be a long road and there is no quick settlement...
MF... Still has value with the repositioning and renewed product lines.

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[MrGermanGuy]

Positive pump expect this share to in the next few days gain ground importantly next Monday should see a spike and a new base forming... Significantly higher than where we are
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Sounds too optimistic for me, we might see
All traders , eventplayers leave today

[Lionelza1]

Positive pump expect this share to in the next few days gain ground importantly next Monday should see a spike and a new base forming... Significantly higher than where we are

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It should be moving today already.....Mr Market having non of it...and judging from markets reaction eish babba

[Investment novice]

Positive pump expect this share to in the next few days gain ground importantly next Monday should see a spike and a new base forming... Significantly higher than where we are

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[MrGermanGuy]

Great optimism... And before I get get downed by the pessimist or realists... Yes the pump is on
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Pump ?...... really?......

[Investment novice]

Great optimism... And before I get get downed by the pessimist or realists... Yes the pump is on

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