15225 replies to this topic

[DayTraderDad]

FOR POLLY TO READ: You find this in page 2

 

On 6 February 2019, SEAG filed an application with the Court seeking to have the LSW

Application heard on an expedited basis. SEAG’s application was granted by the Court at a

preliminary hearing of the LSW Application on 14 February 2019 and a two-day substantive

hearing of the LSW Application will take place on the first available Court date in the week

commencing on 25 March 2019. A specific date has not yet been set by the Court for the

substantive hearing of the LSW Application.

9.

The CVA Long-Stop Date in relation to both the SEAG CVA and the SFHG CVA is currently

5.00pm (London time) on 29 March 2019 (or such later time as may be agreed by the relevant

parties). Both SEAG and SFHG continue to work towards the implementation of the

Restructuring. However, notwithstanding SEAG’s request to have the LSW Application heard

on an expedited basis, it is unlikely that SEAG and SFHG will be in a position to implement

all of the Restructuring Steps set out in the SEAG CVA and the SFHG CVA on or prior to the

CVA Long-Stop Date.

10.

In addition to the uncertainty around the Court timetable, in order to implement the relevant

provisions of the SEAG CVA and the SFHG CVA in accordance with their terms, it is

envisaged that the closing of the Restructuring will require several weeks from such time as

all conditions precedent to the Restructuring detailed in the SEAG CVA and the SFHG CVA

are satisfied (or waived in accordance with the relevant document(s)). Accordingly, SEAG

and SFHG are seeking an extension of the CVA Long-Stop Date which will provide sufficient

time in order to resolve the LSW Application and implement the SEAG CVA and the SFHG

CVA in accordance with their terms.

[Polly]

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.

Edited by Polly, 20 March 2019 - 06:33 PM.

[DayTraderDad]

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...

Anybody that knows anything about law will tell you the time line they have for the LSW hearing will not work so what is it you don't understand?

I bet you have not even read the sense properly before shooting SNH down.

[DayTraderDad]

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.

Polly why is you cannot stop insulting people. Why you cannot have you say/opinion and let other have their you cannot be sure you are the only expert around so let people have opinions. We all know you hate management with a pation you see no value in SNH and you predicting a share price of zero.

Well done we all have heard you so put away your mother Theresa card and let people have a say.

[DayTraderDad]

And the other half of POCO, they just gave it to him (with no court order yet, not a  final one from the Netherlands, and not any from Germany), yet they gave it to him for (basically) free.

And in 10 moths time he came back to demand big loans (that they didn't know about, and call it "a claim").

No he owned the other 50%

[Polly]

 

I think people who have shorted the share at lower price than it sit currently are screaming that the share must go to zero and be suspended.  And people who are long are just being patient and waiting for the share to recover like Heather  Sonn and Louis du Preez said in calm and collected tone yesterday that even Christo Wiese wants to come to the table to discuss because it will be the best for everyone even the people who lost money. If the company goes bust everybody lose. Isn’t it so? Except the shorters.

So all the business news commentators etc…. that say the share is just a punt can go and drink a punt in the bar.

If it does go to zero I will join them in the bar

Ps   I am not referring to anyone on the chat form

 

 

 

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.

[Polly]

 

I think people who have shorted the share at lower price than it sit currently are screaming that the share must go to zero and be suspended.  And people who are long are just being patient and waiting for the share to recover like Heather  Sonn and Louis du Preez said in calm and collected tone yesterday that even Christo Wiese wants to come to the table to discuss because it will be the best for everyone even the people who lost money. If the company goes bust everybody lose. Isn’t it so? Except the shorters.

So all the business news commentators etc…. that say the share is just a punt can go and drink a punt in the bar.

If it does go to zero I will join them in the bar

Ps   I am not referring to anyone on the chat form

 

 

Milo you sound like Haha now...

 

First learn how shorting works if a share is suspended.. Then you will understand my exact reason why i wont short when price is so low..

 

If there was money to be made , i will put my money and short it to zero putting my money where my mouth is....

[Polly]

See snh released sens again after 1700 and more delays..im not invested but fail to see much positive about this whole fiasco. Good luck all if comes right you could score nicely but i won't be taking my chances on this..i just hear and see lot negatives and not much that makes me want part with my hard earned cash

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...

[Midas1]

See snh released sens again after 1700 and more delays..im not invested but fail to see much positive about this whole fiasco. Good luck all if comes right you could score nicely but i won't be taking my chances on this..i just hear and see lot negatives and not much that makes me want part with my hard earned cash

[Milo]

I think people who have shorted the share at lower price than it sit currently are screaming that the share must go to zero and be suspended.  And people who are long are just being patient and waiting for the share to recover like Heather  Sonn and Louis du Preez said in calm and collected tone yesterday that even Christo Wiese wants to come to the table to discuss because it will be the best for everyone even the people who lost money. If the company goes bust everybody lose. Isn’t it so? Except the shorters.

So all the business news commentators etc…. that say the share is just a punt can go and drink a punt in the bar.

If it does go to zero I will join them in the bar  

Ps   I am not referring to anyone on the chat form

[Tom]

 

Tom see insert from sense 04-09-2018

 

SALE OF INTERESTS IN THE POCO FURNITURE GROUP

Steinhoff International Holdings N.V. (the “Company” and with its subsidiaries, the “Group”)

 

On 26 April 2018 the Group announced that it had agreed in principle a settlement of the

German litigation proceedings between the Group and entities controlled by Dr Andreas

Seifert (the “Seifert Entities”). It was noted in the 26 April 2018 announcement that the Seifert

Entities had offered to acquire the Group’s remaining 50% interest in the POCO furniture group

(“POCO”).

 

The Group’s subsidiary LiVest GmbH (“LiVest”) holds the Group’s shares in POCO and has today

entered into a sale agreement with the Seifert Entities by which the Seifert Entities will acquire

LiVest’s shares in POCO and certain related properties for a total consideration of €270.685

million (the “POCO Sale”). In addition, the POCO business will retain debt of approximately

€140 million, with no recourse to the Group. The closing of the POCO Sale is subject to typical

conditions precedent including German and Austrian competition and merger control

provisions. Closing of the POCO Sale shall bring the German litigation proceedings with the

Seifert Entities to an end.

 

As noted in the Company’s Q3 2018 trading update, following the declaration of a dispute by

the Pohlmann family regarding the 2015 sale of their interest in LiVest to Steinhoff, any proceeds

from the sale by LiVest of its 50% share in POCO will be held in escrow while the Pohlmann

dispute is finalised.

 

Shareholders and other investors in the Company are advised to exercise caution when

dealing in the securities of the Group.

 

JSE Sponsor: PSG Capital

 

 

And the other half of POCO, they just gave it to him (with no court order yet, not a  final one from the Netherlands, and not any from Germany), yet they gave it to him for (basically) free.

And in 10 moths time he came back to demand big loans (that they didn't know about, and call it "a claim").

Edited by Tom, 20 March 2019 - 05:41 PM.

[DayTraderDad]

They have settled with Seifert before, gave him the money and property that he wanted, called it a final settlement with Seifert, and bragged about it as if it was one their wise accomplishments, just to have Seifert back at them again in 12 months time.

Tom see insert from sense 04-09-2018

 

SALE OF INTERESTS IN THE POCO FURNITURE GROUP

Steinhoff International Holdings N.V. (the “Company” and with its subsidiaries, the “Group”)

 

On 26 April 2018 the Group announced that it had agreed in principle a settlement of the

German litigation proceedings between the Group and entities controlled by Dr Andreas

Seifert (the “Seifert Entities”). It was noted in the 26 April 2018 announcement that the Seifert

Entities had offered to acquire the Group’s remaining 50% interest in the POCO furniture group

(“POCO”).

 

The Group’s subsidiary LiVest GmbH (“LiVest”) holds the Group’s shares in POCO and has today

entered into a sale agreement with the Seifert Entities by which the Seifert Entities will acquire

LiVest’s shares in POCO and certain related properties for a total consideration of €270.685

million (the “POCO Sale”). In addition, the POCO business will retain debt of approximately

€140 million, with no recourse to the Group. The closing of the POCO Sale is subject to typical

conditions precedent including German and Austrian competition and merger control

provisions. Closing of the POCO Sale shall bring the German litigation proceedings with the

Seifert Entities to an end.

 

As noted in the Company’s Q3 2018 trading update, following the declaration of a dispute by

the Pohlmann family regarding the 2015 sale of their interest in LiVest to Steinhoff, any proceeds

from the sale by LiVest of its 50% share in POCO will be held in escrow while the Pohlmann

dispute is finalised.

 

Shareholders and other investors in the Company are advised to exercise caution when

dealing in the securities of the Group.

 

JSE Sponsor: PSG Capital

[LarryK]

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

[Tom]

Lionel the non-suspension does give a trading opportunity?
I actually wouldn’t mind pumping a little more should the price drop.
Then let’s hope for a positive outcome next week!
Management needs to find a way to settle, whatever it takes. I am sure they are well aware of this.
Like you said before, good old leadership. Get everyone around a table and work it out.

 

They have settled with Seifert before, gave him the money and property that he wanted, called it a final settlement, and bragged about it as if it was one their wise accomplishments, just to have Seifert back at them again in 12 months time.

Edited by Tom, 20 March 2019 - 05:18 PM.

[Lionelza1]

Yea Larry is trading opportunity, just saying if they suspend share it shouldn't be an issue, unless they go into business rescue like group 5 then different story.

I liked what du preez said about getting cw, Seifert around the table to discuss,. Thumbs up for that, better that approach then run to court

[DayTraderDad]

You stupidity fails to maze me....and then say i make false statements...

 

 

Chance getting stronger and stronger for suspension of this share...

 

Thats my statement...means probability of suspension gettting stronger..

 

 

You say  i said :

 

now the share getting suspended

 

 

Either you dont understand what i read or plain old dumb....

 

ive said this over and over about you...Attack anything i say negatively without understanding where im going...barking up wrong tree as normal...Lying as normal... Funny Andi understood it..

Cant have a decent conversation with you..sorry man you really need that help....

 

 

What else...

Hahaha!!!

[LarryK]

Lionel the non-suspension does give a trading opportunity?
I actually wouldn’t mind pumping a little more should the price drop.
Then let’s hope for a positive outcome next week!
Management needs to find a way to settle, whatever it takes. I am sure they are well aware of this.
Like you said before, good old leadership. Get everyone around a table and work it out.

[Polly]

Temper!!!!

Don't call me guru it was you that said I am a fraud because I am a day trader. In my opinion you a scaring people with false statements like this morning now the share getting suspended blah blah what is a newbie is reading that then sell immediately because he gets scared!!!

Anyway hope you can find a way to have a nice day!!

You stupidity fails to maze me....and then say i make false statements...

 

 

Chance getting stronger and stronger for suspension of this share...

 

Thats my statement...means probability of suspension gettting stronger..

 

 

You say  i said :

 

now the share getting suspended

 

 

Either you dont understand what i read or plain old dumb....

 

ive said this over and over about you...Attack anything i say negatively without understanding where im going...barking up wrong tree as normal...Lying as normal... Funny Andi understood it..

Cant have a decent conversation with you..sorry man you really need that help....

 

 

What else...

[Lionelza1]

If I look at group 5 they have gone into business rescue.

Steinhoff shudve suspended this share Dec 2017 instead Babbas friend sent sms to his pals to sell.... What a ****

I feel snh shud suspend until they sort their stories out and the. Start trading again?

[Lionelza1]

What's the big deal with share suspension?

I have shares in choppies and the monies r still there on my portfolio.so just waiting for them to sort out their financials and it should start trading again.

De-listing a share is a problem

Not so?