15225 replies to this topic

[Squideye]

Does anyone know when the appeal will be heard? Might have missed it but thought it was urgent?

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[Tiekkie]

Does anyone know when the appeal will be heard? Might have missed it but thought it was urgent?

probably next five years...lol

[GutfeelTrader]

Does anyone know when the appeal will be heard? Might have missed it but thought it was urgent?

[Batra]

Also keen to understand your R21.

I'm estimating it will be somewhere in the region of R15
to R27.

I made reference to very good though old posts from two bloggers on this forum (everlearning and andy222)
I updated their numbers on th basis of April 21 results
I took the revised SNH balance sheet and took in consideration mainly the revaluation of their assets, a conservative scenario of debt restructuring, a three years helicopter view re cash flow projection and of course a favorable outcome of the GS. I built a”cigarette box” P&L and applied a multiple of 5 to 8 to Simulated EBITDA
No rocket science here neither high level finance and certainly not exact science, just a good exercise for the brain. So it is just my opinion for my decision and in no way a recommendation or an advise
Btw, wait also for the time where some senior analysts will come back to issue an opinion about SNH, specifically in case of dramatic improvements.
As I always said about this share, not for heart fainted.

[Sleepwa123]

Also keen to understand your R21.

I'm estimating it will be somewhere in the region of R15 to R27.

[Zanme]

Bottom line if they were not preventing for their own selfish sillly interest GS to happen, we would see another kind of SNH, flying at another level, purely based on improved balance sheet, assets value, debt finance restructured, improved Ebitda, future cash flow projection based on current cleaning strategy. Probably around 21 / 22 R/share.
Once again I am convinced that we will see that in the next three years. Therefore hold position and accumulate when dip, seems to me the best way to deal with SNH for now

How do you calculate this 21 rand?

[Batra]

Agreed. There was and still is more than enough money to be made out of this. If the TT boys were less proud, they could have used their substantial financial resources to buy a significant number of Steinhoff shares and rode the wave up with us.

Now they just spend millions on legal actions that will probably amount to nothing. Best case for them is a sweetened deal that I doubt would compensate them for the time and effort of these lawsuits.

Bottom line if they were not preventing for their own selfish sillly interest GS to happen, we would see another kind of SNH, flying at another level, purely based on improved balance sheet, assets value, debt finance restructured, improved Ebitda, future cash flow projection based on current cleaning strategy. Probably around 21 / 22 R/share.
Once again I am convinced that we will see that in the next three years. Therefore hold position and accumulate when dip, seems to me the best way to deal with SNH for now

[DayTraderDad]

Agreed. There was and still is more than enough money to be made out of this. If the TT boys were less proud, they could have used their substantial financial resources to buy a significant number of Steinhoff shares and rode the wave up with us.

Now they just spend millions on legal actions that will probably amount to nothing. Best case for them is a sweetened deal that I doubt would compensate them for the time and effort of these lawsuits.

From the interview with Piet Viljoen is was clear to me the TT old boys not very financial savy. They took the shares from Jooster without a due deligence simply becsause CW was a share holder and Deloitte had agreed with the financials.

[Sleepwa123]

Agreed. There was and still is more than enough money to be made out of this. If the TT boys were less proud, they could have used their substantial financial resources to buy a significant number of Steinhoff shares and rode the wave up with us.

Now they just spend millions on legal actions that will probably amount to nothing. Best case for them is a sweetened deal that I doubt would compensate them for the time and effort of these lawsuits.

[Tiekkie]

Goldman Sachs makes R1.5 billion from Steinhoff investment https://www.news24.c...stment-20211029

Mr Mostert said in his interview that SNH debt is garbage..what **** stories is he spinning to the public.. when Goldmansachs is making money like this

[Tiekkie]

Goldman Sachs makes R1.5 billion from Steinhoff investment https://www.news24.c...stment-20211029

[Tiekkie]

Desperate people do desperate things !!!!

I am more convinced now then ever the reason for this fight the Mr. Tekkie project is not going any ware and they are very short of cash!!! This is what I think!!

if I was Louis I would open TT shops right next to Mr Tekkie stores

[DayTraderDad]

I think this guy has gone behond the point of insanity

Desperate people do desperate things !!!!

 

I am more convinced now then ever the reason for this fight the Mr. Tekkie project is not going any ware and they are very short of cash!!! This is what I think!!

[DayTraderDad]

 

I guess for the near future the judge and advocate "meetings" at the V&A are a thing of the past.

The new vismark venue will be the Loch Logan in Bloem.

Dress code: Shorts, boots, with comb in bobby socks...

 

Hahaha dont forget the biltong!!!

[DayTraderDad]

Haha this guy is living in a different world!!

 

Still thinks the bond holders that took the risk to keep SNH going up to 2023 (in fact the only reason TT old boys still can go to court with SNH because without the bond holders support there would not be a Steinhoff in 2018!!) should loose their investments because are not creditors and TT old boys should benefit !!

 

 I would change my legal team if I was them!!

 

They going to have a bad dream!!!

[Squideye]

I guess for the near future the judge and advocate "meetings" at the V&A are a thing of the past.

The new vismark venue will be the Loch Logan in Bloem.

Dress code: Shorts, boots, with comb in bobby socks...

Edited by Squideye, 29 October 2021 - 07:52 AM.

[Tiekkie]

https://www.youtube....eature=youtu.be

I think this guy has gone behond the point of insanity

[Squideye]

[DeltaHedge]

Bosbefok TT...

Update

...'We're fine'

Former Tekkie Town CEO Bernard Mostert said after the ruling was delivered on Thursday that he and colleagues were "fine with the process".

"We have always accepted that our matter will run to the highest court and will set a precedent as to how the victims of fraud are treated and how those responsible for the fraud and those who obstruct the ends of justice are prosecuted," he said in a statement.

"While Steinhoff is in a rush to conclude a settlement that will allow the proceeds of the fraud to be distributed to parties who were not defrauded, we are in no rush at all."

A date has not yet been set for the SCA to hear the matter. Steinhoff previously promised to try and have the hearing expedited.

https://www.news24.c...n-case-20211028

I want to vet klap mostert on his eardrum more so than zanme

[DayTraderDad]

 

Bosbefok TT...

 

Update

 

...'We're fine' 

 

Former Tekkie Town CEO Bernard Mostert said after the ruling was delivered on Thursday that he and colleagues were "fine with the process". 

 

"We have always accepted that our matter will run to the highest court and will set a precedent as to how the victims of fraud are treated and how those responsible for the fraud and those who obstruct the ends of justice are prosecuted," he said in a statement.

 

"While Steinhoff is in a rush to conclude a settlement that will allow the proceeds of the fraud to be distributed to parties who were not defrauded, we are in no rush at all."

 

A date has not yet been set for the SCA to hear the matter. Steinhoff previously promised to try and have the hearing expedited. 

 

https://www.news24.c...n-case-20211028

 

Haha the mother Teresa of Calcutta scenario!!!

 

No one was worried about the poor shareholders getting ripped off overpaying for TT in the race course deal!!

 

Now that their plans with the Hermanus buddy fell flat the poor guy story arrives!!!

 

Haha green beer time!!!

Edited by DayTraderDad, 28 October 2021 - 06:40 PM.