15225 replies to this topic

[andi222]

From where did you get this information?
Is it legit? Because if titan is buying more shares the law suit will definatly be dropped.

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[Milo]

People trade on news. Steinhoff jumped from 1.60 to 3.80 in a week or 2 in the middle of last year because creditors were backing Steinhoff. Why is it back to 1.70? The only reason I can think of was that people were trying to sell their books and and newspapers trying to sell stories. People did not read the senses about creditors backing Steinhoff and companies like Poundland, PEPCO and Mattress firm starting to turn around. They just follow mainstream sometimes fake news on the internet and stuff.

And if it’s true that Titan and Wiese just bought 106 million shares. Why does nobody know about it and is the share not supposed to jump because of that?

 

[DayTraderDad]

 

All this negative chit chat about Steinhoff won’t work. There have been a lot of good news lately and Steinhoff won’t let greedy lawyers etc…. take advantage of them. A lot of buyers will jump in soon.  Wiese just needs to drop his lawsuit and the tables will start to turn. I am sure he still has shares in the company. Why sue himself anyway?   

 

Milo TItan (Wiese company) just bought another 106 mil SNH shares

STEINHOFF INTERNATIONAL HLDG N.V. Shares Held 2018/12/28 Change in Shares Held

Shares Held 2018/11/30

TITAN PREMIER INVESTMENTS (PTY) LTD 243,984,427 106,426,164 137,558,263

[leo]

Milo. Do you have Steinhoff shares?

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[Milo]

All this negative chit chat about Steinhoff won’t work. There have been a lot of good news lately and Steinhoff won’t let greedy lawyers etc…. take advantage of them. A lot of buyers will jump in soon.  Wiese just needs to drop his lawsuit and the tables will start to turn. I am sure he still has shares in the company. Why sue himself anyway?     

[Tom]

 

 

When the restatements comes out and the PwC reports (which are expected probably to confirm many frauds, even since 1998), the court cases will gain momentum, and in addition to that usually the regulators (JSE, FSE, South African, German, and Netherland regulators) probably will issue big fines and compensation demands against Steinhoff, as usually happens in similar cases.

 

On 2017/12/6 Steinhoff's new management announced:

"The Supervisory Board wishes to reassure shareholders that Steinhoff has a number of high quality profitable businesses around the world."

This couldn't be further from the truth, as we have seen in the SENSes of 2018, Steinhoff businesses are either making losses, or very little profit, and even the ones that make some profit, they cannot be sustainable because of the expensive interest rate they are about to sign off for the creditors (and about Pepkor SA they only paid a small dividend to Steinhoff (in 2018, and still they have to pay 20% tax on this relatively small amount, while Steinhoff needs much more money), in addition to all other costs including the coming legal costs.

 

Edited by Tom, 02 January 2019 - 04:43 PM.

[Tom]

Granted. The question will be always be?

What do we think will the price of the share be when the Restatements come out?

 

Also another question.

Im reading a few forums the past year and I see a lot of people debating the prices and then I see a lot of people that are extremely negative constantly telling everyone what a ridicolous investment this is and how bad a company it is.

Why are there people on these forums who waste their time in telling everybody how bad the share is?

I think they have shorted the share and want to get in a position to climb out due to share price going down.?

Am i wrong?

 

We all know there is a massive debt problem in the company and then obviosly always the bloodsucking lawyers who wants to make money out of misery.

But underneath we have a very diversified company opening a store a day in Europe and about 60?? stores in South africa. 

There must be a way to get the ship floating? 

 

Again coming back to the question. With all this in mind what should the share price be for a company with serious debt but also trading fairly decently in a troubled world??

 

When the restatements comes out and the PwC reports (which are expected probably to confirm many frauds, even since 1998), the court cases will gain momentum, and in addition to that usually the regulators (JSE, FSE, South African, German, and Netherland regulators) probably will issue big fines and compensation demands against Steinhoff, as usually happens in similar cases.

 

On 2017/12/6 Steinhoff's new management announced:

"The Supervisory Board wishes to reassure shareholders that Steinhoff has a number of high quality profitable businesses around the world."

This couldn't be further from the truth, as we have seen in the SENSes of 2018, Steinhoff businesses are either making losses, or very little profit, and even the ones that make some profit, they cannot be sustainable because of the expensive interest rate they are about to sign off for the creditors, in addition to all other costs including the coming legal costs.

Edited by Tom, 02 January 2019 - 04:36 PM.

[Chris101]

Steinhoff will probably be posting losses for 2018q4, and for the 2018, in addition to more assets impairments because of Mattress Firm.

Also after the PwC report and the restatements for the previous years (expected next April and after), probably Steinhoff will be restating to losses for these previous years, and so more impairments.

The 10% per year debt interest due (currently translates to 1 billion Euro per year) they are planning to sign with the creditors, will also probably put serious strain on Steinhoff for the coming 3 years

That in addition to all the court cases against Steinhoff, and lawyers' costs.

Granted. The question will be always be?

What do we think will the price of the share be when the Restatements come out?

 

Also another question.

Im reading a few forums the past year and I see a lot of people debating the prices and then I see a lot of people that are extremely negative constantly telling everyone what a ridicolous investment this is and how bad a company it is.

Why are there people on these forums who waste their time in telling everybody how bad the share is?

I think they have shorted the share and want to get in a position to climb out due to share price going down.?

Am i wrong?

 

We all know there is a massive debt problem in the company and then obviosly always the bloodsucking lawyers who wants to make money out of misery.

But underneath we have a very diversified company opening a store a day in Europe and about 60?? stores in South africa. 

There must be a way to get the ship floating? 

 

Again coming back to the question. With all this in mind what should the share price be for a company with serious debt but also trading fairly decently in a troubled world??

[Tom]

Just had fomo. No one saying anything. Bad habit I guess to always check the forum.

We still waiting for the q4 trading update. Anyone else know of more imminent info to be released?

Steinhoff will probably be posting losses for 2018q4, and for the 2018, in addition to more assets impairments because of Mattress Firm.

Also after the PwC report and the restatements for the previous years (expected next April and after), probably Steinhoff will be restating to losses for these previous years, and so more impairments.

The 10% per year debt interest due (currently translates to 1 billion Euro per year) they are planning to sign with the creditors, will also probably put serious strain on Steinhoff for the coming 3 years

That in addition to all the court cases against Steinhoff, and lawyers' costs.

[Chris101]

https://richlandstan...n-these-shares/

[leo]

Just had fomo. No one saying anything. Bad habit I guess to always check the forum.

We still waiting for the q4 trading update. Anyone else know of more imminent info to be released?

[LarryK]

What’s up?

[leo]

anyone.....

[Dell]

Agreed. Sens just same old same old... Some Big volumes traded. .. Have a good weekend!

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[Tom]

In the SENS today 2018/12/21, they say that they won't be releasing the full PwC, but, depending on the legal advise they get, they may or may not release an overview written by themselves, and if they release one then the extent it will still be dependent on the legal advise they get, which may be in or after mid April-2019.

This will obviously spark many objections from the media, and from all the parties that are suing Steinhoff.

Edited by Tom, 21 December 2018 - 04:17 PM.

[Tom]

SENS 2018/12/21:

"

.

.

the Group has recently agreed to make an additional short-term funding facility available to Conforama to provide working capital support to the Conforama group if required.

.

.

"

 

This sound like that Conforama is still suffering from some liquidity problem, and no turn around is happening yet.

Edited by Tom, 21 December 2018 - 03:19 PM.

[Tom]

SENS 2018/12/21:

"

.

.

pursuant to the terms of the CVAs, the Long-Stop Date (as defined in the LUA) has been extended to 5.00pm (London time) on 29 March 2019 (or such later time as may be agreed in accordance with the terms of the relevant CVA)

.

.

"

 

So the CVA will not be finalized by 20-Feb-2019, but rather 30-Mar-2019 or later ?

Edited by Tom, 21 December 2018 - 03:02 PM.

[Tom]

 

We have this new news article today:

https://www.business...enemy-number-1/

 

And the SENS on 6 December 2018:

"

Steinhoff - Update On Forensic Investigation And Financial Reporting Timeline

The investigation is now expected to be complete by the end of February 2019, with the final

report being available to the Company shortly thereafter.

The Company anticipates providing the market with an overview of PwC's findings after it

has had time to review the full final report. This overview will ensure that the legally privileged

nature of the report is not undermined and its position in the various pending legal and

other proceedings is not jeopardized.

Financial reporting

While significant progress has been made in a number of areas, the full implications of the

accumulated findings of the PwC report on the Group’s 2017 and 2018 financial statements

are still being analysed to ensure that the correct accounting treatment and related

disclosures are adopted. This aspect remains a very crucial and complex area.

Once the forensic report findings and the final accounting treatments are resolved by the

Group, the statutory auditors need to complete the outstanding audit processes for all of

the years involved in the build up to these financial statements.

Unfortunately, despite significant efforts being exerted by all parties, it is now clear that the

timeline for completing the Group consolidated financial reporting and audit process has

shifted and it will not be possible for all the work required to be finalised within the original

timeframe.

The Company now estimates that it will publish its Group audited financial statements for

2017 and 2018 by the middle of April 2019. The 2017 and 2018 financial statements for

Steinhoff Investment Holdings Ltd will be released shortly thereafter.

"

 

What's the expectations for next Feb, March and April ? If Steinhoff will not release the full PwC report but an overview written by themselves, do they have the right to do so? What will happen then, will it reflect on the share price (up or down) ?

 

Also this SENS says that they will release the 2017 and 2018 audited results first, and then they will work on issuing new audited results for the years before.

But shouldn't they first work on the earlier years first, and then go up to the later years, because the financials of each year depend on the one before it and so forth.

So how can they issue any audited financial of any year, without having the ones before it corrected?

Also doesn't this say that for them to issue the "corrected" financials for all the years (given their slow pace), they may need till next May or June or even more?

Edited by Tom, 21 December 2018 - 10:42 AM.

[Tom]

We have this new news article today:

https://www.business...enemy-number-1/

 

And the SENS on 6 December 2018:

"

Steinhoff - Update On Forensic Investigation And Financial Reporting Timeline

The investigation is now expected to be complete by the end of February 2019, with the final

report being available to the Company shortly thereafter.

The Company anticipates providing the market with an overview of PwC's findings after it

has had time to review the full final report. This overview will ensure that the legally privileged

nature of the report is not undermined and its position in the various pending legal and

other proceedings is not jeopardized.

Financial reporting

While significant progress has been made in a number of areas, the full implications of the

accumulated findings of the PwC report on the Group’s 2017 and 2018 financial statements

are still being analysed to ensure that the correct accounting treatment and related

disclosures are adopted. This aspect remains a very crucial and complex area.

Once the forensic report findings and the final accounting treatments are resolved by the

Group, the statutory auditors need to complete the outstanding audit processes for all of

the years involved in the build up to these financial statements.

Unfortunately, despite significant efforts being exerted by all parties, it is now clear that the

timeline for completing the Group consolidated financial reporting and audit process has

shifted and it will not be possible for all the work required to be finalised within the original

timeframe.

The Company now estimates that it will publish its Group audited financial statements for

2017 and 2018 by the middle of April 2019. The 2017 and 2018 financial statements for

Steinhoff Investment Holdings Ltd will be released shortly thereafter.

"

 

What's the expectations for next Feb, March and April ? If Steinhoff will not release the full PwC report but an overview written by them, do they have the right to do so? What will happen then, will it reflect on the share price (up or down) ?

[Ms Jet]

Hi, you guys still persisting with this share?, you should move on to something else, Ive been in and out Naspers 2 x since and up 12percent already..its cheap. merry Christmas and prosperous new year.