15225 replies to this topic

[SoleTrader]

Steinhoff will fall and Shoprite will rally initially

[SoleTrader]

Steinhoff will fall and Shoprite will rally initially

[sommerso]

Rumor mill is churning again and whispers around the watercooler was that Mr Wiese is possibly thinking of having Steinhoff purchasing Shoprite. Now we don't know his thoughts to be sure, but the retirement of Mr Basson as Shoprite CEO so shortly after rumours and speculations were printed I have a question 

 

What will Steinhoff shares do if it would purchase Shoprite and what would Shoprite shares do with such an offer on the table? Could Steinhoff suddenly trade at R132 a share? Or are they looking at only a 10% or 15% climb?

 

 

[saint1]

thank you moonraker

[Moonraker]

It appears that you don't have to take any action going by their SENS .. ( I suppose they will be listed on the JSE as Steinhoff N.V. - code SNH)

 

Action 2015

Application for the delisting of Steinhoff ordinary shares to be lodged with the JSE Monday, 23 November
on

Last day to trade Steinhoff ordinary shares on the JSE in order to be recorded in Friday, 27 November
the register to receive the Scheme Consideration on

Suspension of listing from the main board of the JSE of Steinhoff ordinary shares at Monday,30 November
commencement of trading on

Listing and trading of Steinhoff N.V. ordinary shares on the JSE in anticipation of Monday,30 November
receipt of such shares on the Operative Date with ISIN NL0011375019 under share
code SNH on

Scheme record date, being the time and date on which Shareholders must be Friday, 4 December
recorded in the register to receive the Scheme Consideration by 17h00 on

Operative Date of the Scheme on Monday, 7 December

Dematerialised Shareholders to have their accounts (held at their CSDP or broker) Monday, 7 December
updated on

Commencement of trading of Steinhoff N.V. ordinary shares on the FSE (expected Monday, 7 December
to be 09h00 CET) with ISIN NL0011375019 under share code SNH on

Termination of listing of Steinhoff ordinary shares from the main board of the JSE at Monday, 7 December

the commencement of trading in Johannesburg on

[saint1]

So Steinhoff delisting and relisting as Genisis, I see there is a note under Special Announcements on the SBK web site. I want to keep my shares in Steinhoff but cant make head or tail of the SENs.

Must any action be taken or if no action do your shares automatically get converted to the new listing?