15225 replies to this topic

[DayTraderDad]

Fair enough, I get your point. I think in all honesty, SNH Management must be so snowed under that situations can go from great to terrible at any moments notice. They know full well that any delay will cause mayhem, so why make impossible targets. If there's any silver lining it's that they've learned not to delay on multiple occasions, so nowadays treat SNH the same way you would your notoriously late friend (we all have one, might even be you!) If they say they'll be there at 10:00, you can expect them at 13:00

I still believe SNH has a great Management and honestly believe there is a reason for their actions but the communication has to improve.
Simply cannot say with 8 days to a deadline that well we not sure we will see!!! Market does not like uncertainty and as such every time
SNH get punished.

[new john]

I find it difficult to understand that clever management that they have cannot identify to the market exactly what is the delay'

If you read below all they keep on saying its complex, working hard etc but exactly what is the delay?

Is it they battling to sort out the consent on the Greenlit brands issue? or is some other blockage or issue at hand.

I would expect them to say we need to extend because of the following: -----

If one looks the last long-stop date was 31 May how is it on the 30th they still don't know that they need to extend past the 30th June.

Surely on the 18th June one should have a good idea what is left to do but all one gets is a comment:

"it appears that it might not be possible to implement the restructuring prior to 30 June 2019"

The quote below was already know before 30th May so what is it they still thinking about on the 18th that once that is done will take 20
business day to implement the CVA.

"The next step is the issuance of the Implementation Conditions Notice."

Anyway just hope they know what they doping and not delaying month to month until 2021.


Quote from page 4 of the AFS 2018:

These extensions reflect the complexity of the restructuring. The Group is continuing to work hard to implement the restructuring.
Despite the Group’s best efforts, it appears that it might not be possible to implement the restructuring prior to 30 June 2019.
Therefore, the Group expects to seek approval for a further extension of the appropriate time required to finalise and implement the CVAs.

 

Fair enough, I get your point. I think in all honesty, SNH Management must be so snowed under that situations can go from great to terrible at any moments notice. They know full well that any delay will cause mayhem, so why make impossible targets. If there's any silver lining it's that they've learned not to delay on multiple occasions, so nowadays treat SNH the same way you would your notoriously late friend (we all have one, might even be you!) If they say they'll be there at 10:00, you can expect them at 13:00

[DayTraderDad]

Interesting indeed. Echoes what someone said earlier, a company on the brink of destruction doesn't go opening stores willy nilly like seems to be the case here.

Its exactly for Pepkor Europe that I am invested in SNH!!! In a year or two it will be much bigger than Pepkor SA.

[new john]

Interesting look at the number of stores to open soon:

https://pepco.eu/shops/find-shop/

 

Interesting indeed. Echoes what someone said earlier, a company on the brink of destruction doesn't go opening stores willy nilly like seems to be the case here. 

[DayTraderDad]

Interesting look at the number of stores to open soon:

https://pepco.eu/shops/find-shop/

[DayTraderDad]

Hawks appoint auditor and team of investigators for Steinhoff transactions

https://www.iol.co.z...ctions-26807672

[andi222]

Well I hope they can finalise it this month. The advisors have a reputation to loose as well if they keep defering, so I think they have already pushed it to the limits. I think they are traying their best to get it done asap.

But lets say the CVA gets deferred again. Yes the share price will fall sharply but nothing has changed actually operationally. I dont think HJ results will be audited as the auditors normally only perform a analtical review on the half year numbers. So not too concerned even if it gets deferred again.

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[DayTraderDad]

At the end of the day, the Media is doing what the Media does. Especially in our RSA Society, we are always looking for a scapegoat in these times of corruption and nefarity. 
 
I agree that SNH could probably do a better job HOWEVER, practically speaking, what is it you'd like them to do? 
 
(genuinely asking as opposed to challenging your viewpoint)

I find it difficult to understand that clever management that they have cannot identify to the market exactly what is the delay'

If you read below all they keep on saying its complex, working hard etc but exactly what is the delay?

Is it they battling to sort out the consent on the Greenlit brands issue? or is some other blockage or issue at hand.

I would expect them to say we need to extend because of the following: -----

If one looks the last long-stop date was 31 May how is it on the 30th they still don't know that they need to extend past the 30th June.

Surely on the 18th June one should have a good idea what is left to do but all one gets is a comment:

"it appears that it might not be possible to implement the restructuring prior to 30 June 2019"

The quote below was already know before 30th May so what is it they still thinking about on the 18th that once that is done will take 20
business day to implement the CVA.

"The next step is the issuance of the Implementation Conditions Notice."

Anyway just hope they know what they doping and not delaying month to month until 2021.


Quote from page 4 of the AFS 2018:

These extensions reflect the complexity of the restructuring. The Group is continuing to work hard to implement the restructuring.
Despite the Group’s best efforts, it appears that it might not be possible to implement the restructuring prior to 30 June 2019.
Therefore, the Group expects to seek approval for a further extension of the appropriate time required to finalise and implement the CVAs.

[new john]

For me its all the negativity that is putting pressure on the price.

Read the article below its a joke the journalist simply has one sided view only taking the sensational parts and not once
mention that there was a increase in sales or that EBITDA was higher then H1.


Steinhoff’s delayed 2018 results show, once again, that it probably is not a going concern

https://www.dailymav...-going-concern/


I agree for me the problem is that the restructure needs to be completed ASAP to bring piece and stability to the share price.

The comment that they may be looking for extension was to me the single damaging comment because it does not make the H1-2019
a going concern and will once more time have negative opinion.

I can understand that its complex to get the CVA in place but I am starting to think the advisers have no interest to
complete this so quickly because its a great income so all milking the cow until the ***'s are dry!!!

Its here that I find this great management fails to inform the market exactly why the delay and that opens the door for
the media to create lots of bad publicity.

The main problem with SNH Management is poor market communication they are very vague which makes it wide open for speculation.

Anyway Andi lets hope you are correct but the failure of the conclusion of the restructuring is creating serious damage to the share price.
This just my opinion.

 

At the end of the day, the Media is doing what the Media does. Especially in our RSA Society, we are always looking for a scapegoat in these times of corruption and nefarity. 

 

I agree that SNH could probably do a better job HOWEVER, practically speaking, what is it you'd like them to do? 

 

(genuinely asking as opposed to challenging your viewpoint) 

[DayTraderDad]

For me its all the negativity that is putting pressure on the price.

Read the article below its a joke the journalist simply has one sided view only taking the sensational parts and not once
mention that there was a increase in sales or that EBITDA was higher then H1.


Steinhoff’s delayed 2018 results show, once again, that it probably is not a going concern

https://www.dailymav...-going-concern/


I agree for me the problem is that the restructure needs to be completed ASAP to bring piece and stability to the share price.

The comment that they may be looking for extension was to me the single damaging comment because it does not make the H1-2019
a going concern and will once more time have negative opinion.

I can understand that its complex to get the CVA in place but I am starting to think the advisers have no interest to
complete this so quickly because its a great income so all milking the cow until the ***'s are dry!!!

Its here that I find this great management fails to inform the market exactly why the delay and that opens the door for
the media to create lots of bad publicity.

The main problem with SNH Management is poor market communication they are very vague which makes it wide open for speculation.

Anyway Andi lets hope you are correct but the failure of the conclusion of the restructuring is creating serious damage to the share price.
This just my opinion.

[new john]

Any further delays will bring with them another chunk out of the price I feel. Question needs to be asked (in the search for this shares rock bottom), what are the chances of additional delays and, by the time the assumed delay is announced, how much ground will this share have made up by then. 

 

I believe in the long term potential of this share. But looking at it from a layman's perspective, I expect this share to tread VERY closely to R1.00 before we see resurrection. 

 

Disclaimer: If you were to base any decisions on a strangers post somewhere on the interweb, rather just give your money to charity. 

 

 

EDIT: To give a bit more substance to my stance: Let's look at how the media and Mr Market treats this share every time bad news comes its way. I can read predictions on NAV and Financials all day, however we can see that this share price is affected predominantly on sentiment and perception. Until such time as a plethora of GOOD news comes its way (regardless of the fact the an increase in sales in today's retail environment is objectively 'great' news) I do not see this share climbing (substantially). 

 

Whilst my comment weeks back about the disclaimer at the end of each SENS was likely seen as rudimentary or perhaps ignorant, it in a nutshell encapsulates what will be required for this share to bounce back.  

Edited by new john, 20 June 2019 - 01:21 PM.

[new john]

So as assumed the 2018 nunber where an non event. I think the big guys knew what was coming. However its history as 2018 is already 9 months ago.

Whats up next. CVA agreement needs to be finalised. I really hope they can finalise it by the end of this month. They mentioned already they might extend again. But lets see and wait. As soon as its finalised they can move 8 Billion from current liabilities to non current liabilities. Which would mean their current assets (4.9 billion) are way higher then their current liabilities (3.5 billion). This again would mean we have a going concern. Which would open the way to an unqualified audit opinion for 2019.

Next then would be HJ 1 2019 numbers. Which i think will be very positive. Management has mentioned that revenue will be less however this will be due to conforma being classified as euqity accounted for. Im also expecting a EBITDA of 500 Million and more.

Analyst day will show us where the company is going and how they plan to refinance the big debt burdon.

Current share price and volumes is a joke in my opinion. It took exactly 5 million shares to make the price drop 5%.

Again the above is my own opinion and no advice or recomendation.

Sent from my SM-G950F using Sharenet Sharechat mobile app

 

Any further delays will bring with them another chunk out of the price I feel. Question needs to be asked (in the search for this shares rock bottom), what are the chances of additional delays and, by the time the assumed delay is announced, how much ground will this share have made up by then. 

 

I believe in the long term potential of this share. But looking at it from a layman's perspective, I expect this share to tread VERY closely to R1.00 before we see resurrection. 

 

Disclaimer: If you were to base any decisions on a strangers post somewhere on the interweb, rather just give your money to charity. 

[andi222]

So as assumed the 2018 nunber where an non event. I think the big guys knew what was coming. However its history as 2018 is already 9 months ago.

Whats up next. CVA agreement needs to be finalised. I really hope they can finalise it by the end of this month. They mentioned already they might extend again. But lets see and wait. As soon as its finalised they can move 8 Billion from current liabilities to non current liabilities. Which would mean their current assets (4.9 billion) are way higher then their current liabilities (3.5 billion). This again would mean we have a going concern. Which would open the way to an unqualified audit opinion for 2019.

Next then would be HJ 1 2019 numbers. Which i think will be very positive. Management has mentioned that revenue will be less however this will be due to conforma being classified as euqity accounted for. Im also expecting a EBITDA of 500 Million and more.

Analyst day will show us where the company is going and how they plan to refinance the big debt burdon.

Current share price and volumes is a joke in my opinion. It took exactly 5 million shares to make the price drop 5%.

Again the above is my own opinion and no advice or recomendation.

Sent from my SM-G950F using Sharenet Sharechat mobile app

[Captainfrom82]

Not that I am overly concerned at the share price which is completely irrational, but the price tanked in late afternoon which coincided with Steinhoff releasing a SENS indicating that Steinhoff Investments (not not Steinhoff International NV) results will be delayed to end September 2019.

 

It may be that this spooked the market.

 

This same pattern and confusion had occurred earlier this year, which prompted me to contact Steinhoff.  I requested that they make it clear that this was not referring to Steinhoff International NV.  They have done so in the SENS of yesterday by stating "This change does not impact the Steinhoff International Holdings N.V. reporting timetable".

 

But I wonder how many people actually got that far in the SENS.

 

Best Regards

Captainfrom82

[Milo]

 

Steinhoff happened the same time as state capture. Steinhoff is a scapegoat for state capture.

 

If you watch the parliament thingy. Yunus Carrim from the ANC parliament’s finance committee was swearing at Markus Jooste and everybody there was shouting thieves. It was a joke.

 

 

 

And

 

Number one (You know who) was not called to parliament for state capture and shouted at and swearing at like they did with Steinhoff.

 

 

Maybe there is a hidden agenda.

 

Basically trying to shift attention and blame to the private sector and turn attention away from all the corruption in government. Just politics. Steinhoff is at least coming clean and fixing the problem with good new management and strategies. Cyril Ramaphosa trying to do the same with government I think. Hopefully people will acknowledge Steinhoff efforts. Especially financial journalist. Share price will do better with proper financial analyst like some of the people on the forums. No more FAKE NEWS !!!!

[Milo]

Milo, do you know why they do this? Is there someone paying them to spread negativity?

Or are they just too lazy to read the full report and they just pick something?

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Steinhoff happened the same time as state capture. Steinhoff is a scapegoat for state capture.

If you watch the parliament thingy. Yunus Carrim from the ANC parliament’s finance committee was swearing at Markus Jooste and everybody there was shouting thieves. It was a joke.

 

And

Number one (You know who) was not called to parliament for state capture and shouted at and swearing at like they did with Steinhoff.

 

Maybe there is a hidden agenda.

[andi222]

They take a negative point and make a story about it and leave the positive news out. = FAKE NEWS

Milo, do you know why they do this? Is there someone paying them to spread negativity?

Or are they just too lazy to read the full report and they just pick something?

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[Milo]

They take a negative point and make a story about it and leave the positive news out. = FAKE NEWS

[new john]

Add another to your list:
https://www.cnbcafri...al-e1-3bn-loss/

https://www.moneyweb...d-2018-results/

Not a bad article in my opinion . At least points to the fact that despite progress being made, market is still waiting on this one.

[DayTraderDad]

I just googled for Steinhoff news and I get the following headlines:

Steinhoff the Shock
Deep red numbers also in 2018
Steinhoff huge losses
Steinhoff posts 1.2 billion losses
Steinhoff price collapse after billion losses

Thats just to name a few. Why are these reporters tryong to make the picture sound like Steinhoff is gonna close down their stores like now?? Do they get money from investors who are shorting Steinhoff? I really dont understand?
Why dont they issue a fair unbiased view?


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Add another to your list:
https://www.cnbcafri...al-e1-3bn-loss/