15225 replies to this topic

[DeltaHedge]

 

Now that we have a idea of the Fantastic Furniture value can have more accurate valuation of SNH:

 

VALUATION DATE: 31/01/2022 (figures in Eur mil)

 

PEPCO GROUP 78,90% €3 910

PEPKOR Holding 58,80% €2 811

FF 100,00% €400

MF 50,10% €958

Total Value of holdings: €8 078

 

simply wallstreet doesnt agree with u haha

[DayTraderDad]

Now that we have a idea of the Fantastic Furniture value can have more accurate valuation of SNH:

 

VALUATION DATE: 31/01/2022 (figures in Eur mil)

 

PEPCO GROUP 78,90% €3 910

PEPKOR Holding 58,80% €2 811

FF 100,00% €400

MF 50,10% €958

Total Value of holdings: €8 078

[Tentative]

"De Klerk said the company was mindful of existing shareholders. “We need to be cautious [and consider] shareholders who have been supportive through a very difficult period. So we will not recklessly just do massive swaps of debt for equity without taking the rights and the value into account,” he said.

Asked about a rights issue — selling shares to existing shareholders — that also would be dilutory, De Klerk said Steinhoff was not contemplating it as a means to cut debt."

Steinhoff turns to debt mountain after getting audit thumbs-up @ https://www.business...udit-thumbs-up/

[DayTraderDad]

Fantastic Furniture revisits plans for ASX listing...

So FF valued between Eur 285 mil and Eur 440 mil by analyst and my estimate was about Eur 800 mil!

[Tiekkie]

Payday bonanza for Steinhoff execs as markets cheer light at the end of the tunnel @ https://www.iol.co.z...7c-1574bc3beced

poor ordinary shareholders gets didly squat big fat zero:)

[Squideye]

Payday bonanza for Steinhoff execs as markets cheer light at the end of the tunnel @ https://www.iol.co.z...7c-1574bc3beced

[Squideye]

Fantastic Furniture revisits plans for ASX listing...

Attached Files

•  20220131.pdf   1.57MB   13 downloads

[Squideye]

Steinhoff turns to debt mountain after getting audit thumbs-up @ https://www.business...udit-thumbs-up/

Edited by Squideye, 30 January 2022 - 08:10 PM.

[DayTraderDad]

You just cannot stop the fear mongering huh? Jeez. PIC still owns 8.5% of Steinhoff - they will not screw them over twice surely. 
 
There are options that Management should all be exploring in the situation they are in. I wonder fx what the strategy with the billions of deferred taxes are (can these be activated through 3rd party?). In any case, so far they delivered on the plan so give them some credit.

Read note 6,3 page 126 explains very well the benifit of the Eur 18 bil tax deferrals.

[DayTraderDad]

Haha no its for the Eur 3,8 mil per year income. Zanme really going to be upset look in page 73 Eur 11 mil in renumeration.

Hi Zanme please dont look in page 78. Haha

[DayTraderDad]

But why the fook not close shop, it would have been easier. An image thing for LDP ?

Haha no its for the Eur 3,8 mil per year income. Zanme really going to be upset look in page 73 Eur 11 mil in renumeration.

[DayTraderDad]

You just cannot stop the fear mongering huh? Jeez. PIC still owns 8.5% of Steinhoff - they will not screw them over twice surely. 
 
There are options that Management should all be exploring in the situation they are in. I wonder fx what the strategy with the billions of deferred taxes are (can these be activated through 3rd party?). In any case, so far they delivered on the plan so give them some credit.

Haha no fear mongering its reality.

Make no mistake I am very proud of SNH management they have done an outstanding job but they were left with a very high debt burden at a high intedest rate.

Yes agree PIC still holding the 8,5% but do you know the content of the secrete agreement riched with them so they dropped the legal opposition to the Dutch SoP and took the wind from the Naido legal claims sails?

My own thoughts are they agreed to get Pepkor share for their holding in SNH in the future.

The tax benifit see page 34 if the fins. High Risk.(insert below)

Although the investigations are being managed on a constant
basis, the outcome thereof remains uncertain and could lead
to cash outflows in order to pay tax.

[Tentative]

You just cannot stop the fear mongering huh? Jeez. PIC still owns 8.5% of Steinhoff - they will not screw them over twice surely. 

 

There are options that Management should all be exploring in the situation they are in. I wonder fx what the strategy with the billions of deferred taxes are (can these be activated through 3rd party?). In any case, so far they delivered on the plan so give them some credit.

 

No they could not close shop it was important to get all business running properly otherwise old shareholders would get nothing. We are witnessing a controlled liquidation process.

When I saw the settlement with TT and Trevo for that high value I started to think all was about settling and close the books.

The creditors will take over most of the assets and existing shareholders are going to get very little.

[CasualTrader]

He's got a point, why does steinhoff even need to exist

Maybe not understanding, but is Steinhoff not a holding company. Does the same question not apply to any holding company?

[Squideye]

This says it all!

Good article:

《Selling more of Pepco is the easiest move and Steinhoff will likely do this in 10%-15% chunks, De Klerk said. The company has no minimum level it will hold onto, he said.》

https://www.bloomber...=premium-europe

 

Same local @ https://www.moneyweb...er-asset-sales/

[DayTraderDad]

This says it all!

Good article:

《Selling more of Pepco is the easiest move and Steinhoff will likely do this in 10%-15% chunks, De Klerk said. The company has no minimum level it will hold onto, he said.》

https://www.bloomber...=premium-europe

[DayTraderDad]

But why the fook not close shop, it would have been easier. An image thing for LDP ?

No they could not close shop it was important to get all business running properly otherwise old shareholders would get nothing. We are witnessing a controlled liquidation process.

When I saw the settlement with TT and Trevo for that high value I started to think all was about settling and close the books.

The creditors will take over most of the assets and existing shareholders are going to get very little.

[DeltaHedge]

So can you all see why I say R5 for SNH is not value?

But why the fook not close shop, it would have been easier. An image thing for LDP ?

[DayTraderDad]

He's got a point, why does steinhoff even need to exist

So can you all see why I say R5 for SNH is not value?

[DayTraderDad]

INTERVIEW | Steinhoff looks to offload shares in bid to cut R170 billion debt burden https://www.news24.c...burden-20220129

The writer must be joking! Selling only 10% of Pepco to get R9 bil which is only Eur 0,5 bil a drop in a bucket of a Eur 10 bil plus debt!