15225 replies to this topic

[Captainfrom82]

Asking the accountants is MF becomes equity accounted then the debt if has goes with it and the moneys they owe SEAG will
become assets in the SNH accounts?

Quote from page 27:

"The Management Board has considered the
shareholding and governance structures of
SUSHI and determined that the Group lost
control of SUSHI on 21 November 2018.
Subsequent to this date, Mattress Firm will
be accounted for as an equity accounted
investment in the Group’s 2019 annual
financial statements."

 

Hey DTD,

 

We have discussed this in our private chats.

 

Look at Page 5 of the MF Presentation that Steinhoff released on 5 Oct 2018. Look at previous postings as well.  The MF debt as at end Jul 2018 was $4.4b and assets of $3.3b. 

 

Now consider that Steinhoff suddenly does not have to consolidate the debt or assets.  Steinhoff is now better off by $1b.  Go further, MF suddenly owes Steinhoff loans of $3.3b which will be accounted for as assets now.

 

Changes the NAV, doesn't it?

 

The same treatment will happen for Confo in the 2019 results, and the same again for Greenlit in the 2020 results.

 

Plans for the IPO of Pepkor Europe are going ahead as well.

 

Don't stress too much about the NAV on the 2017 financials - this is two years old.  Look at the EBIDTA numbers - that tells a story.

 

Best Regards

Captainfrom82

[DayTraderDad]

Desperate exit and mop up.
Not sure this is an Allan Gray could be citi bank buying on behalf of individual clients.
Or just some gamblers... Uhm traders....

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Haha yes this reminds me ABIL times when Coronation was dumping at a huge loss and AG buying at 56 cts!!!! Years later AXL rises and AG got their money back!!!

[Investment novice]

From previous reading it appears Allan Grey has the ability to find value when other don't!!!

Desperate exit and mop up.
Not sure this is an Allan Gray could be citi bank buying on behalf of individual clients.
Or just some gamblers... Uhm traders....

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[DayTraderDad]

9,3 mil shares trading in 2 hours tells something!! For me the Allan Greys now involved!! Just my thoughts!!!!

From previous reading it appears Allan Grey has the ability to find value when other don't!!!

[DayTraderDad]

I think so the support level in my chart was 0.1047 or R1.68

9,3 mil shares trading in 2 hours tells something!! For me the Allan Greys now involved!! Just my thoughts!!!!

[DayTraderDad]

This must surely be the bottom now 

I think so the support level in my chart was 0.1047 or R1.68

[Milo]

This must surely be the bottom now 

[DayTraderDad]

Interesting volume in 1.5 hours 8,642,508 its amazing so there must be people with deep pockets that believe in SNH!!!!

[Investment novice]

Haha my target reached now fully invested again!!!

Like I said before investing is a individual responsibility thus no point getting scared or excited by people posts.
Do your sums and act on it.
SNH is definitely not for the faint hearted!!!

But for people to sell there has to be a buyer so one has to ask why are people buying if this is a goner??? There should only be sellers!!!

Well done. Trading

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[DayTraderDad]

Ho dear ho dear!!!!



"Wiese was the most frequently mentioned name in the annual report, receiving considerably more mentions than even former
CEO Markus Jooste. The annual report, which was released just before midnight on Tuesday, took 17 months to be completed
by Deloitte.

On Wednesday Wiese did not immediately respond to requests for comment on the dramatic document.

Wiese’s name is mentioned 72 times in the report, in many instances in relation to complex related-party transactions.
The transactions are identified in detail at the end of the 329-page report. They include the November 2017 prepayment
by Steinhoff to Wiese for his Shoprite shares as well as trading in a valuable block of Brait shares between 2014 and 2016
by Steinhoff and Upington Investments, a company controlled by Wiese."

[DayTraderDad]

Asking the accountants is MF becomes equity accounted then the debt if has goes with it and the moneys they owe SEAG will
become assets in the SNH accounts?

Quote from page 27:

"The Management Board has considered the
shareholding and governance structures of
SUSHI and determined that the Group lost
control of SUSHI on 21 November 2018.
Subsequent to this date, Mattress Firm will
be accounted for as an equity accounted
investment in the Group’s 2019 annual
financial statements."

[DayTraderDad]

Steinhoff gives investors hope but they will need even more patience

https://citizen.co.z...eAG3WI0.twitter

[DayTraderDad]

Interesting words of Heather Sonn ( I am quite sure she is not trying to get people on this chartroom to buy up SNH shares):

Quote from page 7:

"As the Company moves forward with new
leadership in the Management Board and
oversight by the Supervisory Board, with
a commitment to strengthen corporate
governance and internal controls, with a
clear Remediation Plan that addresses the
issues identified by the forensic report in
place, and with a period of financial stability
afforded by the financial restructuring, we
are confident that we are on the path to
recovery and re-emergence as a robust
company with strong, long-term prospects.
We thank you for your continued support.
On behalf of the Supervisory Board

Heather Sonn
Chairperson
7 May 2019

[DayTraderDad]

Yet again, can’t only have been a handful of cronies.
Already on 8 + cw and expect that to rise.
Anyway, hopefully he will stop his cr@p and the 2018 AFS is better.

It will not surprise me at all if VEB and other will go after him also!!!

[LarryK]

I think CW will have a couple of things to explain to the judge before getting his money back namely:

1 - As a chairman if the story going round is true then is surely lack of corporate governance. MJ was involved with the Upington company!!!

2 - It was the MF deal that broke the camel back so as chairman he approved a purchase of a company for a 116% over the going price and one
year later SNH right off the full purchase price because MF was bankrupt.

3 - How come he was getting cash advances to make thew SHP deal come through.

I am quite sure there will be much more things coming up showing poor governance and then the judge must decide was it lack of knowledge or greed!!!

Yet again, can’t only have been a handful of cronies.
Already on 8 + cw and expect that to rise.
Anyway, hopefully he will stop his cr@p and the 2018 AFS is better.

[DayTraderDad]

Dad do you think this could affect his claim against snh?

I think CW will have a couple of things to explain to the judge before getting his money back namely:

1 - As a chairman if the story going round is true then is surely lack of corporate governance. MJ was involved with the Upington company!!!

2 - It was the MF deal that broke the camel back so as chairman he approved a purchase of a company for a 116% over the going price and one
year later SNH right off the full purchase price because MF was bankrupt.

3 - How come he was getting cash advances to make thew SHP deal come through.

I am quite sure there will be much more things coming up showing poor governance and then the judge must decide was it lack of knowledge or greed!!!

[Milo]

Gap in chart. Will close soon ?

[DayTraderDad]

Expect the share price to be under pressure on jse today until a bottom is formed. Either way even if this share tracked to R1... Again it's not an investment but a trade option to buy as you will expect a better 2018 financial than 2017 and restructuring would be a massive boost.

It's trade at your peril.. Not invest...

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Haha my target reached now fully invested again!!!

Like I said before investing is a individual responsibility thus no point getting scared or excited by people posts.
Do your sums and act on it.
SNH is definitely not for the faint hearted!!!

But for people to sell there has to be a buyer so one has to ask why are people buying if this is a goner??? There should only be sellers!!!

[Investment novice]

Expect the share price to be under pressure on jse today until a bottom is formed. Either way even if this share tracked to R1... Again it's not an investment but a trade option to buy as you will expect a better 2018 financial than 2017 and restructuring would be a massive boost.

It's trade at your peril.. Not invest...

Sent from my SM-G950F using Sharenet Sharechat mobile app

[Polly]

Dear Polly

 

Why will a man like LOUIS STRYDOM that knows by knows everything that is bad and disgusting and about to tank at Steinhoff leave his Solid and secure job at a leading international firm PWC to join a firm that is a "goner" and like Peter Armitage also said. "Sadly, in my opinion, there is no value left," said Peter Armitage, founder of Anchor Capital."

 

https://www.sharenet...eq=43&scode=SNH

I cannot for one moment think a person with that amount of inside knowledge will do a career change to a goner.

 

Sure if you are playing short then it is great that bad press makes the share goes jumping up and down but for the people like myself in the longer term market it makes no sense

Thanks for the lively debate

 

Chris

 

 

as i said

 

 

stay invested at your own peril!!