15225 replies to this topic

[Lionelza1]

 

So according to the article it would mean jooste acted with put the knowledge of the board therefore criminal charges will be laid against him and Mr steinhof and associate's. That would absolve steinhof the company of any wrong doing ? Or am I reading it wrong ?

 

My take on it shows what a clever thieving mind babbas friend has...

i doubt steinhoff will get off scott free

[Lionelza1]

 

 

 

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JusticeAboveAll  The Skunk 1 • 15 hours ago

Steinhoff will be finally liquidated by March 2019 at the latest. Its over the cliff and cannot be resuscitated. Those who still hold on to their near useless Steinhoff shares in the "fool's hope of a trillion against one odds" that it may still recover, would be well advised to sell it now and take their 90c per share......today.....otherwise they will sit with NOTHING soon.

 

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  The Skunk 1  Ian Barton • 8 hours ago

  Yip today is called a dead cat bounce.

 

 

 

 

 

Eish that sounds like me

 

And then what is a dead cat bounce? setting up for a drop?

[realkingkam]

So according to the article it would mean jooste acted with put the knowledge of the board therefore criminal charges will be laid against him and Mr steinhof and associate's. That would absolve steinhof the company of any wrong doing ? Or am I reading it wrong ?

[Tom]

A chat from:

https://www.business...-markus-jooste/

 

The Skunk 1 • 17 hours ago

Steinhoff dropped 20c yesterday around 5.00pm. 10 million odd shares at the markets close.

Whats the betting today it will tank to under R1?

Where is Wiese??? Of course he knew nothing. Mmmm time will tell.

 

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  JusticeAboveAll  The Skunk 1 • 15 hours ago

  Steinhoff will be finally liquidated by March 2019 at the latest. Its over the cliff and cannot be resuscitated. Those who still hold on to their near useless Steinhoff shares in the "fool's hope of a trillion against one odds" that it may still recover, would be well advised to sell it now and take their 90c per share......today.....otherwise they will sit with NOTHING soon.

   

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  Ian Barton  The Skunk 1 • 12 hours ago

  Up 6% to R1,91 (11.45am). predicting share prices is a fools game alright!

   

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    The Skunk 1  Ian Barton • 8 hours ago

    Yip today is called a dead cat bounce.

 

[leo]

Makes no sense that the share is going up. There's clearer evidence of fraud and corruption.

This share beats me

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[Lionelza1]

Thanks DAD... Hopefully it continues... It needs to catch up with the ship I set sail on.... Wayyyyy behind

[DayTraderDad]

 

Why is it going up? Is it tricking us to pump for them to dump or is there a genuine reason?

 

Difficult to say think its holiday today in Germany maybe prices are just following JSE? Don't really know.

[Lionelza1]

Why is it going up? Is it tricking us to pump for them to dump or is there a genuine reason?

[DayTraderDad]

 

  

lol stop smoking that green kak

 

Hahaha watch this developing by end of December or April 2019. If you look all those things will not affect the turnover it pays down debt so should also not affect the balance sheet either because less assets but also less debt so the NAV remains same unless they have to wright down lots more impairments ( I dont think so) but that will happen by FY2017 that will be coming out in Dec 31st.

[Lionelza1]

 

  

Tom I agree this is how I see the final debt restructure: (The equity sale is swop debt for share holding by existing lenders the same as MF on SA, Conforama, PEPCO and Asia Pacific)

DEBT STRUCTURE Euro- Billion
Initial debt 9800
POCO Debt takeover -140
POCO – Moneys to receive from sale 50% -271
Sale of Kika Leiner -590
Sale of Hemisphere – Should be the next step -400
Sale of Matress Firm 49,9% -550
Recovery from Wieser advance to buy SHP -350
Sale of Conforama properties – In the news -850

Sale of equity to 51% holding– -3,650
Net Debt 2,999
EDITDA 900
Debt/EDITDA ratio 3.33

 

lol stop smoking that green kak

[Lionelza1]

 

Cannot listen, anything significant worth reporting. Other than the normal 702, political theme.

 

nah if u read the article then thats about it

[Bubble]

   

First was a writer making money on roadshows about a book about Steinhoff now Lawyers on road show to make money from shareholders of Steinhoff and the only losers are the shareholders themselves because the more negative the news the less their holding is with.World gone nuts!!!

Cannot agree more.

 

Some articles explain this, but they continue to hammer. Sonn asked SH to be patient early this year, they have this...what do they do the next day..hammer!

[DayTraderDad]

 

Warren provided high level summary of article in financial mail, amazing article detailing the “shady” stuff by Jooste and his buddies. My only question is whether this is factored into the revised balance sheet of 12bn euro hole or new discoveries

 

I believe this is actually old news thats why Hemisphere value droped to Euro1.1 Bil

[DayTraderDad]

 

Cannot listen, anything significant worth reporting. Other than the normal 702, political theme.

 

First was a writer making money on roadshows about a book about Steinhoff now Lawyers on road show to make money from shareholders of Steinhoff and the only losers are the shareholders themselves because the more negative the news the less their holding is with.World gone nuts!!!

[Burnt as well]

Warren provided high level summary of article in financial mail, amazing article detailing the “shady” stuff by Jooste and his buddies. My only question is whether this is factored into the revised balance sheet of 12bn euro hole or new discoveries

[Bubble]

Snh talk in 702

Cannot listen, anything significant worth reporting. Other than the normal 702, political theme.

[DayTraderDad]

 

The possible selling of assets seams to be perfectly expected and according to the restructuring plan, actually they still have 3 years to sell some assets at a reasonable price, and they're already about to sell.
Steinhoff has said several times that a main part of the restructuring agreement is to give Steinhoff enough time to sell some of their assets at a good price  (so avoiding a fire-sale).
Selling at a good price is always good news, yet the market is reacting as if it's some kind of shocking or unexpected news ! or were they just using the occasion to short sell, create pessimism and panic, and see if the price go lower, so they can buy back at a cheaper price, or was it both?

 

Tom I agree this is how I see the final debt restructure: (The equity sale is swop debt for share holding by existing lenders the same as MF on SA, Conforama, PEPCO and Asia Pacific)

DEBT STRUCTURE Euro- Billion
Initial debt 9800
POCO Debt takeover -140
POCO – Moneys to receive from sale 50% -271
Sale of Kika Leiner -590
Sale of Hemisphere – Should be the next step -400
Sale of Matress Firm 49,9% -550
Recovery from Wieser advance to buy SHP -350
Sale of Conforama properties – In the news -850

Sale of equity to 51% holding– -3,650
Net Debt 2,999
EDITDA 900
Debt/EDITDA ratio 3.33

[Lionelza1]

Snh talk in 702

[leo]

  

i sure hope it does not. i hope they crook the books 1 last time so i could get out....i cant out now....down way too much to sell.....am now hoping for a miracle..... mamma mia

Good luck. Don't know what to say

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[Lionelza1]

 

No zero yet. Don't think we'll see lower than 170 180.

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i sure hope it does not. i hope they crook the books 1 last time so i could get out....i cant out now....down way too much to sell.....am now hoping for a miracle..... mamma mia