15225 replies to this topic

[Milo]

Polly, on 20 Mar 2019 - 4:08 PM, said:

My problem with above is about existing gurus who are long this share....They got it much higher...some say  a few at R8.00 and others R15.00 average... Its these guys talking up the shares in this forum to be carefull off....

 

forget the shorters/ hedges...they made the money and waiting to make a kill on other shares like MTM and aspen which they did.

 

 

Ok I understand that there is people on here with high averages but why would you and Tom try to kick the share to kingdom come if you not shorting the share? I don’t understand the reason behind it. But it does not matter it is good discussions positive and negative comments.  I am not an accountant or in business so I am trying to think out of the box here. I see in all the shopping centres big or small there is a Pep and Ackerman’s and Incredible Connection etc… Good quality shops and busy and I think to myself there is no way it will just shut down. I go to the Mattress Firm website and I am impress with how excellent the products and website etc… is. I am also impressed how Heather Sonn and Louis Du Preez handled the situation in Parliament.  This is the only reason I will keep my shares for a while, so I don’t really care if the business commentators on tv say it is a gamble.

[DayTraderDad]

Tom, on 20 Mar 2019 - 5:12 PM, said:

And so according to this Steinhoff management could have given away all properties they had just because the financials were in doubt.

 

Giving away property will result in impairment on the assets (even if it was loss making).

Tom this is just my opinion:

I believe that all those business POCO, KiKa Linea and a few other small units are not profitable and do believe Kika Linea losses was considerable so the best way to stop bleeding money is to get rid of loss making business. I do believe Conforama is also in the process of either go through a big restructuring or will be sold there is already talk of a buyer and looks like French government saw the creditors in UK already. 

As SNH could not have access to money it was not possible to keep business that were losing money that could bring would bring the whole company down. 

I know it looks very bad at this moment with the 12 bil impairments but I do believe that is over the top because the said fraudulent action are 6.5 bil so do believe the board error went on the safe side.

In the restructure there are a few steps to take place as this:

1 - MF had to be reorganise this is completed.

2 - The Australian business will have to sell part of its business to bring the debt levels and then possibly list whats left and SNH will hold 51%.

3 - Conforama is going to be sold or possibly partly sold to pay debt could well be SNH will hold 51%

4 - There are a few other small business that will be sold off in time that are not profitable are able to be turned around.

5 - Someone on the this forum a while back said that the Automotive business was going to be sold but have read nothing in the news.

6 -  So by the time the restructure is done there will only be PEPCO Europe and Pepkor SA and the other will be equity reported.

7 -  According to my calculation the net debt should be around 5.5 Bil 

8 - SNH will sue the 8 guys and should recover about 2 to R3 bil which if deducted from the debt will reduce the debt to a low lever of around 3 bil.

 

We have to understand PEPCO is growing at 27% at present and has a huge market to grow in because Europe has 27 countries and 500 mil people.

In time the NAV will rise and has there is more confidence in the company maybe even a few assets that were impaired can be reversed.

[JK001]

Polly, on 20 Mar 2019 - 4:38 PM, said:

Disasters continue for Steindoff.....house of cards coming down...wonder whats the next joker in the pack to hit this share!!!

 

Now dear Polly is a retired esteemed accountant with a low quarter to empty glass, and like so many other vultures always scanning for a carcass and if not dead praying for it to die. Motherhood statement like above with no substance.  Follow his advise (buy MCZ or Grand Parade etc.) if you want to wait many many years for a ROI.  So cool how he and religious followers puke on this post and then go do the little girl gossip on his 'help desk' (the gospel choir) - see for yourself how much helpdesk and how much yarra yarra.

 

Hat off to SNH current management that have relentlessly worked to restore equilibrium to all vested parties amid negative press and the Polly drones.  Leadership has significant Law experience and is playing it by the book and good old SA loves to kick a lying dog.

 

IMHO SNH still have some challenges, compared to the challenges management conquered these are little humps.

Additionally, in parallel there are significant opportunities now to optimize operations across these federated businesses and make no mistake the retail industry is having a hard time with the slowing worldwide economy.  E-commerce is a major disruption for retail, but SNH have fantastic App in Australia that could be retrofitted across geographies. 

 

SNH appeal and specifically in the Pepkor line(locally and internationally) caters exactly for the cost aware market and scaling is impressive.  

 

In the corporate world things don't move that fast because of all the check and balances built in, thus be patient if dates are liquid(the only good advise I have seen from Polly). 

 

Am well invested in SNH for the long and accumulate when the opportunity occurs because of the potential and specifically management perseverance and bottom line synergies with a clear understanding of risk/reward ratio.

 

You make your own investment decisions taking into account all known facts and some ambiguous information.

[andi222]

Because its a precoutious step. Nothing has changed. LUA could be completed next week if Seifert could just stop being greedy.

Sent from my SM-G950F using Sharenet Sharechat mobile app

[Lionelza1]

market not even reacting to that sens.......strange

[Tom]

DayTraderDad, on 20 Mar 2019 - 5:02 PM, said:

Yes I agree POCO was profit making under the MJ financincing system. I know how you feel but remember MJ doctored all the accounts and now they have to be cleaned up. POCO store in Strand closed why???? read the news on the link will give you some insight.

 

https://www.netwerk2...oors-20180815-2

 

And so according to this Steinhoff management could have given away all properties they had just because the financials were in doubt.

 

Giving away property will result in impairment on the assets (even if it was loss making).

Edited by Tom, 20 March 2019 - 07:13 PM.

[Lionelza1]

LarryK, on 20 Mar 2019 - 3:19 PM, said:

Lionel let me just pump some more at 160 and then suspend

 

Hey Larry, yea my game plan was to add more around 1.70.......but i am giving this one a break now......i'll hold and see what happens im done gambling on it

[Lionelza1]

Polly, on 20 Mar 2019 - 4:32 PM, said:

L for your info :

 

1. JSE can suspend a companys shares for not providing yearly afs or half yearly interims on time...normally 3 months after year end/ 6 months fater interims due. ..think choppies was an example...will reinstate once those afs are submitted and normally charged a fine

 

 

2. A company can request suspension on its own shares iof they

2.1 feel lots of price volatility  in its shares for no reasonable reason.

2.2 feel company is in financial problems

2.3 any serious news that may given in foreseeable future than will effect share price...called a cautionary

2.4. Any inside info effecting share price

 

i dont think criteria 2 applies juts yet...but criteria 3 definitely... that pwc report and audited afs will definitely have a major effect on share price and they should have called for suspension until those are out and investors had time to read through..and then reinstated..

 

If suspended for 2.2 above , chances of reinstatement are virtually zero.

 

At moment no one knows whats potting and all speculation... So share can do anything in this volatile environment.

 

JSE's excuse for not suspending this share is because it is secondary listed, surely that law/rule must change

 

and 2.2 is exactly the challenges this company is faced with, yea if creditors pull plug its game over hey

[Lionelza1]

Midas1, on 20 Mar 2019 - 4:37 PM, said:

May i make a point..I very much doubt there are enough people using Sharechat to effect share prices positive or negative..institutions wont be looking at our personal opinions so dont sweat it what people opinions are at all...take it or leave it..I read a lot of opinions as part my research but only a handful people on here i pay heed too...so really if i don't want invest my hard earned cash here but presently..hope changes soon ..fd up on.mr price..whatever..and i say that to you all in nicest possible way...cheers off out now..ps if i start telling all to buy mr price maybe price if anyone listens will go up half a cent

Missy Jet i think u miss the point, when u came in as a newbie were u not influenced by what u read on here?

 

And no i wont entertain ur confusion with your other alias

[Lionelza1]

Polly, on 20 Mar 2019 - 3:58 PM, said:

we discussed thiss morning...well there goes mid april afs submission....so damn predictable as L will say...useless management....but punters say no they doing a good job....Problem is thier hands are tied which even a blind person can see a mile away..why then make predictions of dates when they know its impossible to keep....So they must take the blame as being useless and liars...

extensions galore......they not sure if they comming or going.

 

i get that there are so many issues for them to sort out, but is this behaviour acceptable to the market? there's so many "if's" in that sense.....its like they writing a computer programme.....if this then that

[DayTraderDad]

Tom, on 20 Mar 2019 - 4:53 PM, said:

POCO was one of the few profit making businesses that Steinhoff had.

And by losing it Steinhoff suffered more impairment, and with this new management it has been an impairment after an impairment, not to mention half of Mattress Firm giving away in exchange of a loan of just 0.44 bil eu, that Mattress Firm still has to pay back with interest.

Yes I agree POCO was profit making under the MJ financincing system. I know how you feel but remember MJ doctored all the accounts and now they have to be cleaned up. POCO store in Strand closed why???? read the news on the link will give you some insight.

 

https://www.netwerk2...oors-20180815-2

[Tom]

DayTraderDad, on 20 Mar 2019 - 4:45 PM, said:

Haha POCO was a loss making business thank God it was sold!!!!  

 

POCO was one of the few some profit making businesses that Steinhoff had.

And by losing it Steinhoff suffered more impairment, and with this new management it has been an impairment after an impairment, not to mention half of Mattress Firm giving away in exchange of a loan of just 0.44 bil eu, that Mattress Firm still has to pay back with interest.

Edited by Tom, 20 March 2019 - 06:56 PM.

[Midas1]

Ps im new to this game ..was busy with career before, only about a year but been sucking up info like a sponge and doing ok. Take advice from those give proper info, check their opinion over days if came right or not and then if advice makes sense to you consider it as part of your research..in other words if something smells of bullshit usually is, is someone's opinions seem constantly accurate consider them...id say 4 people ive heard on here all threads know anything

[DayTraderDad]

Tom, on 20 Mar 2019 - 4:43 PM, said:

Just like Takkie Town, and PEPKOR are in the ownership of Steinhoff for now, but court cases are going on about them.

POCO was in the ownership of Steinhoff according to the registry, and Steinhoff fough very hard for long years and spent a lot of money defending the court cases coming from Seifert about it, but finally when the new management came, they've just decided to give him a half for free, and sell he the other half (on discount), without any consent from the marginalized share holders, especially that Steinhoff didn't and still doesn't have a majority share holders anymore since.

 

And now the new management is trying to pass the CVA huge 10% interest agreement, and agreed on threatening the shareholders with 15% interest rate have they not agreed.

Haha POCO was a loss making business thank God it was sold!!!!  

[DayTraderDad]

Polly, on 20 Mar 2019 - 4:38 PM, said:

Disasters continue for Steindoff.....house of cards coming down...wonder whats the next joker in the pack to hit this share!!!

Haha what a joker you are!!!!

[Tom]

DayTraderDad, on 20 Mar 2019 - 4:22 PM, said:

No he owned the other 50%

 

 

Just like Takkie Town, and PEPKOR are in the ownership of Steinhoff for now, but court cases are going on about them.

POCO was in the ownership of Steinhoff according to the registry, and Steinhoff fought very hard for long years and spent lots of money defending the court cases coming from Seifert about it, but finally when the new management came, they've just decided to give him a half for free, and sell to him the other half (on discount), without any consent from the marginalized share holders, especially that Steinhoff didn't and still doesn't have a majority share holders anymore since early 2018.

 

And now the new management is trying to pass the CVA huge 10% interest agreement, and agreed with the creditors on threatening the shareholders with 15% interest rate have they not agreed.

Edited by Tom, 20 March 2019 - 06:47 PM.

[DayTraderDad]

Midas1, on 20 Mar 2019 - 4:37 PM, said:

May i make a point..I very much doubt there are enough people using Sharechat to effect share prices positive or negative..institutions wont be looking at our personal opinions so dont sweat it what people opinions are at all...take it or leave it..I read a lot of opinions as part my research but only a handful people on here i pay heed too...so really if i don't want invest my hard earned cash here but presently..hope changes soon ..fd up on.mr price..whatever..and i say that to you all in nicest possible way...cheers off out now..ps if i start telling all to buy mr price maybe price if anyone listens will go up half a cent

Hahaha I like your comments the information that comes out of this forum would not even move a fly its all about ego and I am right!!! 

[Polly]

Disasters continue for Steindoff.....house of cards coming down...wonder whats the next joker in the pack to hit this share!!!

[Midas1]

May i make a point..I very much doubt there are enough people using Sharechat to effect share prices positive or negative..institutions wont be looking at our personal opinions so dont sweat it what people opinions are at all...take it or leave it..I read a lot of opinions as part my research but only a handful people on here i pay heed too...so really if i don't want invest my hard earned cash here but presently..hope changes soon ..fd up on.mr price..whatever..and i say that to you all in nicest possible way...cheers off out now..ps if i start telling all to buy mr price maybe price if anyone listens will go up half a cent 😂

[Polly]

Tom you posting some very important and pertinent info on snh recently...Thank you...