15225 replies to this topic

[leo]

100% agree

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[Matrix]

Mmm true that. Was expecting a little 5% rise or something...

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I honestly believe that the risk is just to high for the relatively small reward.

At the beginning the sentiment, including mine, was that the lack of facts wrt corruption does not warrant the drop in share price.

At the moment I believe general sentiment is that the enormous amount of debt does not warrant a very high share price.

It's been a trend that's been developing over the last couple of SENS.

New credit lines are awarded to Asia, MF, etc, but the share price doesn't respond well.

News wrt the provision of credit lines may help in short term, but is not really good news because the debt is not payable in the current SNH format.

I would be very surprised if the conclusion of the LUA has a large increase in share price, such as climbing back to R3.

I honestly believe that sentiment is changing on this share wrt there is not enough upside potential for the risk involved.

Just my opinion and I would warn anyone to be careful with this.

 

Disclosure:

I'm not long or short on SNH.

Was long. Should have sold at R3.80 but also believed in the dream.

Happy to have got out on R2.64 and not be involved with this again.

[leo]

Well...that long awaited sens did just about F-all to the price! People are tired and lost hope.

Now the LUA sens, which I think the market priced in as a done deal, so little price movement expected imo.

Mmm true that. Was expecting a little 5% rise or something...

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[Bubble]

Yea, this is a sinking ship, hoping for that last bob, before she goes under.

Well...that long awaited sens did just about F-all to the price! People are tired and lost hope.

 

Now the LUA sens, which I think the market priced in as a done deal, so little price movement expected imo.

[leo]

Still grasping at straws here, but at least they issued this one before the market opens. Hopefully getting a handle on things..I hope...Useless bunch!

Yea, this is a sinking ship, hoping for that last bob, before she goes under.

[Bubble]

SNH SHFF 201811130002A
Steinhoff – Mattress Firm Financial Restructuring

Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019

Steinhoff Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1954/001893/06)
JSE Code: SHFF
ISIN: ZAE000068367

Steinhoff – Mattress Firm financial restructuring
Steinhoff International Holdings N.V. (the "Company" and with its subsidiaries, the "Group")

The Company refers to its announcement on 5 October 2018 that its subsidiary Mattress
Firm, Inc. (together with its U.S. subsidiaries, "Mattress Firm") was taking steps to implement
a pre-packaged plan of reorganization through the voluntary filing of cases under Chapter
11 of the US Bankruptcy Code (the "Mattress Firm Filing"). In conjunction with the Mattress
Firm Filing, Mattress Firm also secured certain financing arrangements that come into effect
upon completion of the implementation of the plan of reorganization and Mattress Firm’s
exit from the Chapter 11 proceedings that are intended to support its business going
forward.

The Company further refers to its announcement of 25 October 2018, noting that, in relation
to the Mattress Firm Filing, the High Court of Justice in England and Wales, on 24 October
2018, granted Stripes US Holding, Inc. ("SUSHI"), a direct subsidiary of Steinhoff Europe AG
("SEAG"), permission to convene a scheme meeting for the creditors affected by the
English scheme of arrangement proposed by SUSHI (the "SUSHI Scheme") for the purpose
of considering and, if thought fit, approving the SUSHI Scheme. SUSHI currently has a
revolving credit facility (the "SUSHI RCF") under which it owes certain lenders (the "SUSHI
RCF Lenders" or "Scheme Creditors") approximately US$200 million. Pursuant to the SUSHI
Scheme, it is intended that the SUSHI RCF Lenders will exchange their rights under the SUSHI
RCF for substantially similar rights under a new RCF between, among others, SEAG (as
borrower) and the Company (as guarantor), with the SUSHI RCF being cancelled.

The High Court of Justice in England and Wales has on 12 November 2018 issued an order
sanctioning the SUSHI Scheme (the "Scheme Sanction Order"). Upon lodging of the
Scheme Sanction Order with the Registrar of Companies (within the meaning of the
Companies Act 2006, as amended) (the "Scheme Effective Date"), the SUSHI Scheme shall
take effect and be binding on SUSHI, the Scheme Creditors and each Undertaking Party
(as defined in the SUSHI Scheme) and its successors and assigns.

A notice of sanction of the SUSHI Scheme has been posted to SUSHI RCF Lenders and is
available on the Lucid website at www.lucid-is.com/sushi.
The Scheme Effective Date is expected to occur on or around 19 November 2018.

The Group restructuring otherwise continues in accordance with the terms of the lock-up
agreement entered into by the Company on 11 July 2018 (the "LUA"). The Company will
continue to provide updates as appropriate.

Shareholders and other investors in the Company are advised to exercise caution when
dealing in the securities of the Group.

JSE Sponsor: PSG Capital
Stellenbosch, 13 November 2018

Date: 13/11/2018 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Still grasping at straws here, but at least they issued this one before the market opens. Hopefully getting a handle on things..I hope...Useless bunch!

[Lionelza1]

I'm going to take this as a suprise sens.... Now let's see how it affects price..... Am ready to pump

[leo]

"The Group restructuring otherwise continues in accordance with the terms of the lock-up
agreement entered into by the Company on 11 July 2018 (the “LUA”). The Company will
continue to provide updates as appropriate."

 

This is what i am playing for.......but they giving nothing away w.r.t how far it is in the process

 Yip as well....

[Ram85]

SNH SHFF 201811130002A
Steinhoff – Mattress Firm Financial Restructuring

Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019

Steinhoff Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1954/001893/06)
JSE Code: SHFF
ISIN: ZAE000068367

Steinhoff – Mattress Firm financial restructuring
Steinhoff International Holdings N.V. (the "Company" and with its subsidiaries, the "Group")

The Company refers to its announcement on 5 October 2018 that its subsidiary Mattress
Firm, Inc. (together with its U.S. subsidiaries, "Mattress Firm") was taking steps to implement
a pre-packaged plan of reorganization through the voluntary filing of cases under Chapter
11 of the US Bankruptcy Code (the "Mattress Firm Filing"). In conjunction with the Mattress
Firm Filing, Mattress Firm also secured certain financing arrangements that come into effect
upon completion of the implementation of the plan of reorganization and Mattress Firm’s
exit from the Chapter 11 proceedings that are intended to support its business going
forward.

The Company further refers to its announcement of 25 October 2018, noting that, in relation
to the Mattress Firm Filing, the High Court of Justice in England and Wales, on 24 October
2018, granted Stripes US Holding, Inc. ("SUSHI"), a direct subsidiary of Steinhoff Europe AG
("SEAG"), permission to convene a scheme meeting for the creditors affected by the
English scheme of arrangement proposed by SUSHI (the "SUSHI Scheme") for the purpose
of considering and, if thought fit, approving the SUSHI Scheme. SUSHI currently has a
revolving credit facility (the "SUSHI RCF") under which it owes certain lenders (the "SUSHI
RCF Lenders" or "Scheme Creditors") approximately US$200 million. Pursuant to the SUSHI
Scheme, it is intended that the SUSHI RCF Lenders will exchange their rights under the SUSHI
RCF for substantially similar rights under a new RCF between, among others, SEAG (as
borrower) and the Company (as guarantor), with the SUSHI RCF being cancelled.

The High Court of Justice in England and Wales has on 12 November 2018 issued an order
sanctioning the SUSHI Scheme (the "Scheme Sanction Order"). Upon lodging of the
Scheme Sanction Order with the Registrar of Companies (within the meaning of the
Companies Act 2006, as amended) (the "Scheme Effective Date"), the SUSHI Scheme shall
take effect and be binding on SUSHI, the Scheme Creditors and each Undertaking Party
(as defined in the SUSHI Scheme) and its successors and assigns.

A notice of sanction of the SUSHI Scheme has been posted to SUSHI RCF Lenders and is
available on the Lucid website at www.lucid-is.com/sushi.
The Scheme Effective Date is expected to occur on or around 19 November 2018.

The Group restructuring otherwise continues in accordance with the terms of the lock-up
agreement entered into by the Company on 11 July 2018 (the "LUA"). The Company will
continue to provide updates as appropriate.

Shareholders and other investors in the Company are advised to exercise caution when
dealing in the securities of the Group.

JSE Sponsor: PSG Capital
Stellenbosch, 13 November 2018

Date: 13/11/2018 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

 

[leo]

is this what u were expecting on 16th Leo?

Yip

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[Lionelza1]

"The Group restructuring otherwise continues in accordance with the terms of the lock-up
agreement entered into by the Company on 11 July 2018 (the “LUA”). The Company will
continue to provide updates as appropriate."

 

This is what i am playing for.......but they giving nothing away w.r.t how far it is in the process

[Lionelza1]

Saw. Mf agreement

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is this what u were expecting on 16th Leo?

[leo]

sens out

Saw. Mf agreement

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[Ms Jet]

sens out

[Lionelza1]

With that i agree

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Yea Leo....problem is to get the damn timming right.....going to look for some of Daytraderdads green beer today and mix it with my whiskey......i dnt believe in crystal balls

[leo]

Thats the beauty part bout it......nobody knows is why i believe there's atleast 1 more heart beat on this fuucker ......and im just waiting on that ONE heartbeat then i dump and run

With that i agree

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[Lionelza1]

Not sure what the answer is...

Maybe wait till Thurs or even fri. If the share goes a little up, that's ok, at least you've preserved your capital. Maybe even next Monday then.

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Thats the beauty part bout it......nobody knows is why i believe there's atleast 1 more heart beat on this fuucker ......and im just waiting on that ONE heartbeat then i dump and run

[leo]

Not sure what the answer is...

Maybe wait till Thurs or even fri. If the share goes a little up, that's ok, at least you've preserved your capital. Maybe even next Monday then.

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[Lionelza1]

and then the market has seen everytime there's a pump, it is followed by a dump...so why would the market pump on any good news from now till the pwc report is scheduled to be released?.....what if there's just a 5% up on lock-up agreement......what if the market just waits for dec....then i'll be screwed...the other **** up is after a couple whiskeys i'll probably buy....and today im free....so today i'll be drinking...... eish 

[Lionelza1]

If you happy with 164. ...then there she goes

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eish i dont know..... it has dropped  ±30c/p share in the past 5 days and 6 more days to go for lock-up agreement.....and then if they have another extension thats just going to be brutal.....i dont know! im already 31% down on my investment...this thing is now ******* with my balls...the temptation is there to buy for that suprise news....but i am finding it hard to part with more of my money on this useless thing