15225 replies to this topic

[JK001]

I just want to warn people that POLLY the TROOL and MINIE ME Lionel go on other share threads and insult people that are in the SNH thread!!!

Look more like a public PM. Two lonely people singing duo 😩

[DayTraderDad]

I just want to warn people that POLLY the TROOL and MINIE ME Lionel go on other share threads and insult people that are in the SNH thread!!!

[DayTraderDad]

Haha the joke of the century.
The German have been going on for three years, PWC with a large amount of staff to find the problems now Hawks to appoint forensic accountants to
finalise Steinhoff probe.

[Tom]

From:

https://www.business...teinhoff-probe/

 

"

Hawks to appoint forensic accountants to finalise Steinhoff probe

 

A draft application for the appointment of forensic chartered accountants to help law enforcement agencies get to the bottom of the Steinhoff scandal will be finalised soon

....

The Hawks are investigating various matters relating to Steinhoff involving fraud, misrepresentation and the loss of billions of rand for investors.

...

Steinhoff has also been subpoenaed by the Financial Sector Conduct Authority (FSCA) to hand over a full copy of the PwC forensic report into the fraud at the retailer.

...

"

Edited by Tom, 02 May 2019 - 07:12 PM.

[DayTraderDad]

Tom, am I missing something here?
 
This SENS appears to relate to Amplats but is posted onto the Steinhoff group chat.

Haha Tom is going to drive you crazy Captain!!!!

[Captainfrom82]

Quote:

"

...

Appointment of PwC as external auditor from 2020

As outlined in the Company’s 2018 Integrated Report, shareholders are advised that Deloitte & Touche’s
(“Deloitte”) services as the external auditors of Amplats will terminate by rotation in 2020. Following the
conclusion of a formal tender process led by an Anglo American plc steering committee on which Amplats was
represented, the Audit and Risk Committee has recommended and the Board of directors of Amplats has
approved the proposed appointment of PricewaterhouseCoopers LLP (“PwC”) as its external auditor. The
appointment will take effect from and including the year ending 31 December 2020. The appointment of PwC
will be recommended to shareholders for approval at Amplats Annual General Meeting in 2020.

Deloitte will perform the audit function in respect of Amplats’ financial statements for the financial year ending
31 December 2019 (the “2019 Audit”). On completion of the 2019 audit, Deloitte will stand down and PwC will
assume the role of external auditors for Amplats.

...

Johannesburg
2 May 2019

...

"

 

Tom, am I missing something here?

 

This SENS appears to relate to Amplats but is posted onto the Steinhoff group chat.

[Tom]

Quote:

"

...

Appointment of PwC as external auditor from 2020

As outlined in the Company’s 2018 Integrated Report, shareholders are advised that Deloitte & Touche’s
(“Deloitte”) services as the external auditors of Amplats will terminate by rotation in 2020. Following the
conclusion of a formal tender process led by an Anglo American plc steering committee on which Amplats was
represented, the Audit and Risk Committee has recommended and the Board of directors of Amplats has
approved the proposed appointment of PricewaterhouseCoopers LLP (“PwC”) as its external auditor. The
appointment will take effect from and including the year ending 31 December 2020. The appointment of PwC
will be recommended to shareholders for approval at Amplats Annual General Meeting in 2020.

Deloitte will perform the audit function in respect of Amplats’ financial statements for the financial year ending
31 December 2019 (the “2019 Audit”). On completion of the 2019 audit, Deloitte will stand down and PwC will
assume the role of external auditors for Amplats.

...

Johannesburg
2 May 2019

...

"

[Captainfrom82]

Again DTD the idiot is still posting rubbish and misleading information.

 

So that's not the exaggerated E0.90 that you've just posted before, so you've proven yourself to be a liar.

And what kind of idiot you are thinking that I (and the other's who've been long enough on this forum) don't know already by heart these numbers that were discussed before over and over and over and over, but I guess you're trying to trek the newbies and passers by, as part of your marketing for the share.

 

Again (for those who have't been long enough on the chat  room): the actual NAV is still below zero, giving the court cases, that won a pivotal win a few days ago with Takkie Town winning their urgent case against the Ponzi Scheme Steinhoff.

 

Actually Tom, the numbers say otherwise...

 

It is POSSIBLE that the lawsuits and possible further impairments take the NAV to a negative number.  That is only something that a future event  may/will bring about.   You are also ignoring the fact that Steinhoff has a 71% interest in a business worth close to ZAR70b (or approximately E3b).

 

To suggest that the "actual NAV is still below zero"  is to put it mildly , exaggerating somewhat.  Unless of course you have the evidence...

Edited by Captainfrom82, 02 May 2019 - 01:21 PM.

[DayTraderDad]

The impairment was already reflected in the 1H18 figure whereas it was not reflected in the 1H17 figure.  There is no additional impairment on the 1H18.

Thanks Captain then even better news!!!

[DayTraderDad]

Again DTD the idiot is still posting rubbish and misleading information.
 
So that's not the exaggerated E0.90 that you've just posted before, so you've proven yourself to be a liar.
And what kind of idiot you are thinking that I (and the other's who've been long enough on this forum) don't know already by heart these numbers that were discussed before over and over and over and over, but I guess you're trying to trek the newbies and passers by, as part of your marketing for the share.
 
Again (for those who have't been long enough on the chat  room): the actual NAV is still below zero, giving the court cases, that won a pivotal win a few days ago with Takkie Town winning their urgent case against the Ponzi Scheme Steinhoff.

Haha came on Tom surely you cannot be that stupid???? As you being Polly always gets confused with figures do you know the difference between 2017 and 2018? Yes in figures is 1 but in years its 365 days hahaha!!!

Edited by DayTraderDad, 02 May 2019 - 01:16 PM.

[Captainfrom82]

Hi Day Trader

 

I don't agree with your conclusion of a NAV of about E0.90.  2018 Unaudited financials indicated a NAV of about 0.58 per share. Further impairment of E1.8 billion equates to a decrease of about 0.42 per share.  Thus leaving us with an estimated NAV of around 0.16/share....

 

The impairment was already reflected in the 1H18 figure whereas it was not reflected in the 1H17 figure.  There is no additional impairment on the 1H18.

[Captainfrom82]

 

The further new impairment on Steinhoff assets, is a new indication that Steinhoff management committed a bigger than earlier reported Ponzi Scheme (it was reported in Dec-2017 a 6 billion eu hole, and now we so far have heard of 21 billion eu).

So the status of Steinhoff insolvency, is worst than what was earlier reported in end 2017 and during 2018.

 

While the sens in Dec-2017 indicated that Steinhoff too big to fail, and early 2018 CW said "Steinhoff is not smoke and mirrors", while early this year he change this to a statement that said "Steinhoff is worthless share".

 

 

Hi Tom,

 

I bear no ill-wind against you - I just want to ensure that the facts stated are correct!

 

You advise of "new impairments".  My understanding is that there is no new impairment.  As I stated before, the 1H17 did not include the MF impairments.  Please look at the 1H17 and 1H18 financials and you will see the Goodwill and intangibles that clearly reflect that 1H17 was overstated.

 

Can you also please send us a link that reflects CW's statement that "Steinhoff is worthless share"?

 

Best Regards

Captainfrom82

[Tom]

Provided there vwill be no further impairments to the FY 2018 accounts then at 30 March 2018 the Equity of 3793 will be reduced by 1800
thus making the Equity 3793 - 1800 = 1993 or NAV of about E0.46 which is more then ZERO!!

 

Again DTD the idiot is still posting rubbish and misleading information.

 

So that's not the exaggerated E0.90 that you've just posted before, so you've proven yourself to be a liar.

And what kind of idiot you are thinking that I (and the other's who've been long enough on this forum) don't know already by heart these numbers that were discussed before over and over and over and over, but I guess you're trying to trek the newbies and passers by, as part of your marketing for the share.

 

Again (for those who have't been long enough on the chat  room): the actual NAV is still below zero, giving the court cases, that won a pivotal win a few days ago with Takkie Town winning their urgent case against the Ponzi Scheme Steinhoff.

Edited by Tom, 02 May 2019 - 01:11 PM.

[DayTraderDad]

Provided there vwill be no further impairments to the FY 2018 accounts then at 30 March 2018 the Equity of 3793 will be reduced by 1800
thus making the Equity 3793 - 1800 = 1993 or NAV of about E0.46 which is more then ZERO!!

[Polla]

Hi Polla the impairment is for the FY 2017.

From SENSE:
Group's goodwill and intangible assets. In the announcement of the Group's interim results for the period to 31 March 2018, which was made on 29 June 2018, the value of goodwill and intangible assets as at 30 September 2017 was disclosed as being approximately EUR9 billion. Pursuant to further review by Steinhoff, it has today been determined that the Group's goodwill and intangible assets as at 30 September 2017 are to be further impaired by approximately EUR1.8 billion to approximately EUR7.2 billion.

DTD

 

Sorry, you're right. I misunderstood...

[DayTraderDad]

Hi Day Trader
 
I don't agree with your conclusion of a NAV of about E0.90.  2018 Unaudited financials indicated a NAV of about 0.58 per share. Further impairment of E1.8 billion equates to a decrease of about 0.42 per share.  Thus leaving us with an estimated NAV of around 0.16/share....

Hi Polla the impairment is for the FY 2017.

From SENSE:
Group's goodwill and intangible assets. In the announcement of the Group's interim results for the period to 31 March 2018, which was made on 29 June 2018, the value of goodwill and intangible assets as at 30 September 2017 was disclosed as being approximately EUR9 billion. Pursuant to further review by Steinhoff, it has today been determined that the Group's goodwill and intangible assets as at 30 September 2017 are to be further impaired by approximately EUR1.8 billion to approximately EUR7.2 billion.

[Midas1]

Has everyone lost plot here 😁 just seen someone called polla now posted...keeping away from sharechat.co.za until some normality returns...cant see how any of this constructive..

[Polla]

You see Tom your post clearly indicates your lack of knowledge. So lets get to facts what is goodwill???

Goodwill is an intangible asset associated with the purchase of one company by another. ... Calculated by taking the purchase price of a company and subtracting the fair market value of identifiable assets and liabilities.

So the fact that MF was making losses it is very clear the goodwill impaired was not sufficient and thus the new impairement.

From the financials in March 2018 page 50 - for FY 2017 the goodwill was 8020 and Intangible assets 3457 that giving equity of 5692.
So if you subtract 1800 the new equity is 5692 - 1800 = 3892 which is still a NAV of about E0.90.
So you see well of the ZERO or NEGATIVE!!!

Hi Day Trader

 

I don't agree with your conclusion of a NAV of about E0.90.  2018 Unaudited financials indicated a NAV of about 0.58 per share. Further impairment of E1.8 billion equates to a decrease of about 0.42 per share.  Thus leaving us with an estimated NAV of around 0.16/share....

[Tom]

Now I know for sure TOM and POLLY are the same people they write exactly the same posts!!!

Haha I guess you still cannot understand a balance sheet suggest you buy Dummys for accountants

 

DTD hallucination case is getting more and more, not only in SNH numbers that he keeps hallucinating about, but also in person recognition, that he keeps insisting upon.

[Tom]

Now I know for sure TOM and POLLY are the same people they write exactly the same posts!!!

Haha I guess you still cannot understand a balance sheet suggest you buy Dummys for accountants

 

DTD hallucination case is getting more and more, not only in SNH numbers that he keeps hallucinating about, but also in person recognition, that he keeps insisting upon.