15225 replies to this topic

[Procrastinator]

Like i said before Wiese is all about himself, F### anybody else. SNH shareholders are in deep sh#t here.

Wiese is making the claim, does not mean that this will go his way, especially in lieu of the fact that he was chairman of the group he now wants to claim against.
He may have better luck going for the auditors that did the due diligence prior to accepting the script portion for pepkor deal.

Due to the fact that everyone relied on the auditors to verify the financials he got burned just like all the other shareholders.

As he was the chair of Steinhoff just makes him look a lot worse as the deals he did were in 2015, not like he sold pepkor to them a week before Marcus did a duck.

[Blackobar]

Like i said before Wiese is all about himself, F### anybody else. SNH shareholders are in deep sh#t here.

[Magnet]

Sold out for a tiny loss. Going to give this one a miss. News just in Christo Wise to sue for $5bil

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[Shi]

https://www.bloomber...-asset-disposal

 

More disposals.

[Investment novice]

Polly made good profits in a recognised downtrend.

and will make money on an uptrend. there will be enough time to get on the ship later if there is recovery. so important to have some liquidity for the eventuality.

I bought another 60000 shares at 2.20 today. happy with the price and happy with the downside risk. I am after the higher volume of shares, at this rate expecting dividends in 3 to 4 years if they come through and higher upside on value growth. part of my strategy (personal strategy with allocation for risk)

expect 2 things within 30 days to realise some value:

1. The SA debt has not yet been settled and the market was concerned the asset disposal went straight to working capital. this should be finalised soon

2. agreement on some form of debt restructuring with  investors that bought the debt cheap.

 

 

 

 

[Polly]

At 2.18 it is already priced for bankruptcy. Currently it has a market cap of 9B. It's stake in STAR alone is 4 times this.

 

Given that the financials are only due by the end of the year, it gives them time to fix (if this is possible) things.

At the moment its unknown liabilities and litigation may be 10 times its market cap. That is the crucial factor. Cant believe one man can destroy such a huge company and then he jumps ship. The jumping ship is the other crucial factor which says its worth nothing to me.

[Magnet]

At 2.18 it is already priced for bankruptcy. Currently it has a market cap of 9B. It's stake in STAR alone is 4 times this.

 

Given that the financials are only due by the end of the year, it gives them time to fix (if this is possible) things.

 

Yes I'm banking on the fact that the worst has already all been priced in and a hint of optimism may shoot the SP up to R5 or so.  Lets see.  Like I said prepared to take the risk. By no means a long term hold for me.  Extending credit lines next month could hopefully be a catalyst.

[Shi]

Took a chance at 2.18. All or nothing. Company still makes 13 bill euros of revenue each year.

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At 2.18 it is already priced for bankruptcy. Currently it has a market cap of 9B. It's stake in STAR alone is 4 times this.

 

Given that the financials are only due by the end of the year, it gives them time to fix (if this is possible) things.

[Magnet]

I mean 20 bill euros per year

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[Magnet]

Took a chance at 2.18. All or nothing. Company still makes 13 bill euros of revenue each year.

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[Polly]

there is an "honest" or desperate effort to retain shareholder value lets see what the board is able to do in the next 6 months. for one- they are collaborating with all regulators to prevent suspension and reduce retrenchments. the working capital requirements are also being utilised for growth and revenue generation with each asset work to improve their position. interestingly they also boldy spending on their marketing to ramp up their sales- 225 000 quid for coronation the uk serial to endorse openings of 45 Poundland stores in addition to the Pepco store in stores. similar is happening across borders. mattress firm is being downsized to optimise their footprint, new product lines are being introduced. there is something to say about the fight in the background- go big or go home- its a do or die.

 

if you had r10000 and purchased 5000 shares for r2 each- the upside is significantly greater that the downside. existing shareholders should be doubling and tripling their portfolios at this rate and reduce their cost per share-

for new shareholders this is a worthwhile short term risk

 

well that's how I look at it..

 

be interesting to hear from speculators on their thoughts here!!!

My opinion was:

buy over R20.00

sell below R5.00

 

sell still valid  to zero.

[Investment novice]

there is an "honest" or desperate effort to retain shareholder value lets see what the board is able to do in the next 6 months. for one- they are collaborating with all regulators to prevent suspension and reduce retrenchments. the working capital requirements are also being utilised for growth and revenue generation with each asset work to improve their position. interestingly they also boldy spending on their marketing to ramp up their sales- 225 000 quid for coronation the uk serial to endorse openings of 45 Poundland stores in addition to the Pepco store in stores. similar is happening across borders. mattress firm is being downsized to optimise their footprint, new product lines are being introduced. there is something to say about the fight in the background- go big or go home- its a do or die.

 

if you had r10000 and purchased 5000 shares for r2 each- the upside is significantly greater that the downside. existing shareholders should be doubling and tripling their portfolios at this rate and reduce their cost per share-

for new shareholders this is a worthwhile short term risk

 

well that's how I look at it..

 

be interesting to hear from speculators on their thoughts here!!!

[Blackobar]

its a nah from 99% of the market and only shareholders praying for some relief and share recover.

IMO- there is some nice intraday and short term trading opportunity- opportunity to make a few quid reading the trends.

The shareholders / retail investors are the ones I sympathize with, i really hope they get something back out of this mess. Wiese, Jooste and the lot are the worst, need to be jailed for their unethical practices.

[Investment novice]

its a nah from 99% of the market and only shareholders praying for some relief and share recover.

 

IMO- there is some nice intraday and short term trading opportunity- opportunity to make a few quid reading the trends.

 

[Blackobar]

some interesting information

1. cockroaches are rampant- however pest control contracted
2. further assets maybe sold to cover capital costs- explains where funding is coming from for growth projects initiated globally
3. debt covenants not breached- informal waivers
4 restructuring supported and further information in May- this may trigger a lovely share rally for speculators- hope to see the share return to R9- R12
5. lots of negatives and positives for the market to digest

It's a Nah from me mate. Steinhoff directors are about protecting their butts and screwing investors, Wiese is the worst.

[Investment novice]

some interesting information

 

1. cockroaches are rampant- however pest control contracted

2. further assets maybe sold to cover capital costs- explains where funding is coming from for growth projects initiated globally

3. debt covenants not breached- informal waivers

4  restructuring supported and further information in May- this may trigger a lovely share rally for speculators- hope to see the share return to R9- R12

5. lots of negatives and positives for the market to digest 

 

[Shi]

https://www.sharenet...3682ea67606fe60

Steinhoff faces angry shareholders as it renegotiates debt

Edited by Shi, 20 April 2018 - 04:25 PM.

[Investment novice]

I am not sure this was really good news... What is a global retailer doing buying top end apartments.... think there probably more to the story and it will not be a good one. At least they should be able to be liquidated fairly easily though so that positive.

this is not bad news- we know that there has been lots of personalised spending -  points to the nature of the sins.

jooste and kroonies wanted to enjoy shareholder money- they were not really out to defraud the company of billions and billions

[Investment novice]

 love the comment procrastinator. did you see van zyls comment- leaving now to allow the board to build for the future. do you think he has incurred reputational damage and is limiting the fall out?

the agm is going to be a sizzler from the questions already being posed to the company ....

 

 

[Procrastinator]

interesting article today on Steinhoffs purchase of residential property- at least this confirms that there is some recoverability of funds and not all is lost----

Ocean view, more like drop in the ocean of lost funds.
Now Van Zyl, looks like nobody wants to be holding this parcel now that the music has stopped.