15225 replies to this topic

[LarryK]

I don’t get it. Snh keeps breaking their own commitments. Classic incompetence imo

[DayTraderDad]

Interesting article the start of long arguments.

 

https://www.fin24.co...oste-20190807-2

 

Highlights:

 

For example, they state that one of the claims made by the the trust – that the true market value of the swapped shares were R1.27 and not R74 - is unclear.

 

"It is entirely unclear what is meant in this context by the 'true market value' of the Steinhoff shares at the time. The market - or ruling - price of publicly traded shares is the monetary value that investors are willing to pay for a share of the company's stock," their filing states.

 

They note that the financial implications of what they call the "alleged misrepresentations" of the financial position of Steinhoff are still being quantified, meaning the plaintiffs cannot with certainty say what the 'true market' value of Steinhoff shares should have been in 2015. 

 

 

[Lionelza1]

Wording from extension request sounds positive, will see volumes pickup.

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Careful...... Pump and dump

[Lionelza1]

Now all we need is for the consent to fail!!! These guys are joking!!!

LOL.... They've been joking from a while back already

[Investment novice]

Wording from extension request sounds positive, will see volumes pickup.

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[MrGermanGuy]

We will see

[DayTraderDad]

Now all we need is for the consent to fail!!! These guys are joking!!!

What is the point going to the Investor presentation with yet one more time we are still working on the restructure!!!

[DayTraderDad]

Well it must because that is what was said if they needed another extension.

Now all we need is for the consent to fail!!! These guys are joking!!!

[DayTraderDad]

Does the extension trigger the 40 million fine?

Well it must because that is what was said if they needed another extension.

[DayTraderDad]

Is there a sens

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Again one of those stupid comments we need extension but will try to finish by the 9th!! ( two days time but need a extension of 10 days) How is not possible to know 2 days in advance what is happening!!!! This is why the share get dumped poor communication!! SNH really needs to sort out their IR its pathetic!!

 

https://www.dgap.de/...?newsID=1181285

[andi222]

Does the extension trigger the 40 million fine?

[DayTraderDad]

Seems major investors knew of yet another extension....that’s why stock hasn’t really moved recently!

Well this is no surprise to me. I had a feeling there was going to be another extension. If one is making good money consulting why do you want to finish that as fast as you can. Advisers milking SNH!!!

[Investment novice]

Seems major investors knew of yet another extension....that’s why stock hasn’t really moved recently!

Is there a sens

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[Burnt as well]

Seems major investors knew of yet another extension....that’s why stock hasn’t really moved recently!

[DayTraderDad]

Think tomorrow we will see a open on the R1.26??

[MrGermanGuy]

Hi Captain, thanks for your thoughts. Yeah true however I think that Pepkor SA is undervalued and I see a reasonable market cap at around 80 Billion rand. I would think that we could see the same market cap for Pepcor europe due to their growth potential. So taking 29% of 80 Billion times 16.5 exchange rate would give us roughly 1,5 billion €.

Makes sense to me

Market showing a bit of reaction, of the rest of the day algos had not allowed the price to move,

[DayTraderDad]

TRADING UPDATE - PEPKOR HOLDINGS LIMITED ("PEPKOR")

 

Steinhoff International Holdings N.V. (the "Company" and with its subsidiaries, the "Group"). Shareholders of the Company and holders of the cumulative, non-redeemable, non-participating, variable rate preference shares issued by Steinhoff Investments Holdings Limited are referred to PEPKOR's trading update for the nine months ended 30 June 2019 published today. Copies of the documents are available on PEPKOR's website www.pepkor.co.za.

Shareholders and other investors are advised to exercise caution when dealing in the securities of the Group.

 

 

Stellenbosch, 7 August 2019

[andi222]

Net Debt as at 1H19 = E9.1b which is a lot higher than E7.8b

 

Also, regarding the market cap, (we have discussed this previously) - Pepkor Europe is a significantly better business than Pepkor Africa, yet even at today's depressed share price of R16.91 and a ZAR Euro exchange rate of R16.61 the market cap is just over E3.5b. 

 

I am not sure if you mean the free cash available to pair the debt would be E1.5b

 

But I wholeheartedly concur with the central premise of your thesis.

 

Regards

Captainfrom82

 

Hi Captain, thanks for your thoughts. Yeah true however I think that Pepkor SA is undervalued and I see a reasonable market cap at around 80 Billion rand. I would think that we could see the same market cap for Pepcor europe due to their growth potential. So taking 29% of 80 Billion times 16.5 exchange rate would give us roughly 1,5 billion €.

[andi222]

NEWS: Pepkor reports Revenue of 53,1 Billion rand. Which gives us at a exchange rate of 16,1 on 30 June 2019. 3,3 Billion Euro. Great news

[Captainfrom82]

Yes interesting indeed, the big question will be how much cash can they generate from this? I think a range between 1 and 2 Billion for a 30% share is reasonable given the growth opportunities of pepkor europe. 

 

I think we are in for a hell of a surprise at the investor day. I think they will have a detailed plan which they will present showing exactly how they want to reduce the debt levels. 

 

So currently we have the following:

Around 10 billion debt less 2,3 Billion cash. Gives us around 7,8 net debt. Now taking in Uni trans value (I think around 300 Million), Then IPO of Pepkor europe lets say 1.5 billion. We have 6 billion net debt. Refinance these 6 Billion at terms around 3-4 % p.a. Steinhoff will be profitable in near future again. 

 

Just my thoughts. Any other ideas?

 

Net Debt as at 1H19 = E9.1b which is a lot higher than E7.8b

 

Also, regarding the market cap, (we have discussed this previously) - Pepkor Europe is a significantly better business than Pepkor Africa, yet even at today's depressed share price of R16.91 and a ZAR Euro exchange rate of R16.61 the market cap is just over E3.5b. 

 

I am not sure if you mean the free cash available to pair the debt would be E1.5b

 

But I wholeheartedly concur with the central premise of your thesis.

 

Regards

Captainfrom82