15225 replies to this topic

[DayTraderDad]

Yes don't worry the accountant crooks will also come to the party!!!!

Not so long ago the CFO that could only read spreadsheets did not know anything at the time but today he got vision. Hahaha I love this story with all the claims auditor are getting they should start doing audit from jail.

[DayTraderDad]

But haha said there was no fraud but only accounting irregularities..So this must be false...    

Yes don't worry the accountant crooks will also come to the party!!!!

[DayTraderDad]

https://www.fin24.co...n-deal-20141125

 

So the bolt of the blue deal in 2014 that flashed in 2017:

 

Steinhoff said it will buy Wiese's 52.47% stake for 609.1 million shares at a price of R57 each and

Brait's 37.06% for R15bn in cash and 200 million shares.

It will also buy 2.81% from Pepkor's management giving it a 92.34% stake overall.

 

Haha seriously do these people want people to believe that he never benefited the SNH share reached R97 in March 2016 then stupid deal of buying Matress Firm which he must have been sleeping inthe meeting and did not notice the excessive price tag was the last straw!!!

 

Now crying wanting the diamonds back!!!

 

In 2016: 

South African retailer Steinhoff International Holdings will buy Mattress Firm Holding Corp, the largest specialty bedding retailer in the United States, for $3.8 billion which includes debt, both companies said on Sunday.

 

Steinhoff said it will pay $64 per share, a premium of about 115 percent to Mattress Firm’s Friday close in a deal that will create the world’s largest mattress retail distribution company. The boards of both firms have approved the deal, the companies said in a statement.

 

 

[Polly]

Steinhoff CEO Louis du Preez has now mentioned the names of the people implicated in the PwC report (12:05)

The "small group of executives" mentioned in the PwC report are, according to Du Preez:

Markus Jooste

Dirk Schreiber 

Ben le Grange

Stehan Grobler

Du Preez mentioned the names after being instructed to do so by the a resolution of the committee.

 

 

But haha said there was no fraud but only accounting irregularities..So this must be false...    

[Dell]

Steinhoff CEO Louis du Preez has now mentioned the names of the people implicated in the PwC report (12:05)

The "small group of executives" mentioned in the PwC report are, according to Du Preez:

Markus Jooste

Dirk Schreiber 

Ben le Grange

Stehan Grobler

Du Preez mentioned the names after being instructed to do so by the a resolution of the committee.

[DayTraderDad]

 

One of the investigators or questioners also said that he did not believe the statement from Christo Wiese that it “was a bolt from the blue” He must have known something.

There are also 8 trading accounts that are being investigated for insider trading.

 

Haha there we go "Bolt of lightning that turned diamonds into shares" 

[Milo]

One of the investigators or questioners also said that he did not believe the statement from Christo Wiese that it “was a bolt from the blue” He must have known something.

There are also 8 trading accounts that are being investigated for insider trading.

[Lionelza1]

https://m.fin24.com/...iament-20190319

[Milo]

Heather Sonn also confirmed that they will recoup the cost for any litigation against the group from the individuals. So the individuals will contribute for the cost and claims of the civil law suits against Steinhoff.

[DayTraderDad]

Managed to watch a little on parliament channel but that’s on some other event now

Can you post the link?

[DayTraderDad]

Parliament ordered snh to send them the full pwc report within 24 hours unless they find a legal reason not too

Thanks sounds good maybe a few surprises still!!!

[LarryK]

Managed to watch a little on parliament channel but that’s on some other event now 👎🏻

[LarryK]

Parliament ordered snh to send them the full pwc report within 24 hours unless they find a legal reason not too

[DayTraderDad]

No I was watching on dstv 

Thanks can you post highlights!

[Milo]

Do you have a link to the hearing?

 

No I was watching on dstv 

[Lionelza1]

More names comming out

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[DayTraderDad]

 

Heather Son said that there main priority is to create value for the current shareholders like pensioners who are invested in Steinhoff. They have established a social and ethics committee and received there compliance certificate from the Companies and Intellectual Property Commission. They have nominated the individuals. So in a nutshell a criminal case was open against the individuals who defrauded the company and now they can concentrate to build the company up for current shareholders and new ones.  

 

Do you have a link to the hearing?

[Milo]

Heather Son said that there main priority is to create value for the current shareholders like pensioners who are invested in Steinhoff. They have established a social and ethics committee and received there compliance certificate from the Companies and Intellectual Property Commission. They have nominated the individuals. So in a nutshell a criminal case was open against the individuals who defrauded the company and now they can concentrate to build the company up for current shareholders and new ones.  

[DayTraderDad]

 

Briefing is about questions from people being trying to sound clever and old farts wanting Steinhoff to fail Lot of rubbish. They should rather concentrate on arresting people for state capture

 

 

Haha cannot believe the quality of questions!!!! More time spent discussing then actually listening to answers

Edited by DayTraderDad, 19 March 2019 - 12:22 PM.

[Milo]

Briefing is about questions from people being trying to sound clever and old farts wanting Steinhoff to fail Lot of rubbish. They should rather concentrate on arresting people for state capture