60 replies to this topic

[andi222]

New logo is life. Really looks cool. 

 

https://www.linkedin...4sightholdings/

[andi222]

So apparently they will be fully complaint again by Christmas. Good article:

 

https://www.itweb.co...BpdgvpPBr5vLEew

[andi222]

Disappointing from new Board. Also that they haven't stated a release date shows that they have no idea when this will be done and when interim's will be released. 

 

4SI : Conclusion of Subsidary Business Rescue Process and Update on Interim Results Publication:
4SIGHT HOLDINGS LIMITED
(Incorporated in the Republic of Mauritius)
(Registration number: C148335 C1/GBL)
("4Sight" or "the Company")
ISIN Code: MU0557S00001 JSE Code: 4SI

CONCLUSION OF SUBSIDIARY BUSINESS RESCUE PROCESS AND UPDATE ON INTERIM RESULTS
PUBLICATION


BUSINESS RESCUE

Shareholders are referred to the announcement published on SENS on 15 October 2019
whereby Foursight Holdings Proprietary Limited ("FH"), the intermediary investment holding
company of some of the South African subsidiaries, had been placed under Business
Rescue.

The Board is pleased to advise that FH has been successfully removed from Business Rescue
and the temporary difficulties have been overcome. The Board remains of the view that (on
a consolidated basis) the FH operating subsidiaries within the 4Sight group are profitable
businesses, which generate large cash reserves.

INTERIM RESULTS

Shareholders are referred to the announcement published on 31 October 2019 and are
advised that the Company has made substantial progress with the finalisation of the group
interim results and the final review by the auditor is in progress. Thereafter the interim results
will be considered by the newly constituted Audit and Risk Committee and Board. Once
approved and published, the Company will apply to the JSE for the lifting of the suspension
of trade in 4Sight securities.


Mauritius
29 November 2019

Designated Advisor
Arbor Capital Sponsors Proprietary Limited

Date: 29-11-2019 02:56:00
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.

[andi222]

Hopefully new management will deliver what they have promised and release the results this week. 

 

I still cannot understand why this is taking so long. Even with audit, board change etc. . 

 

Expecting a Trading statement tho in the next two days hopefully.

[andi222]

Good news flowing in.

 

https://www.itweb.co...yONPvEEo8bvXWrb

[andi222]

Watch this shares when its back trading. New management looks promising and competent.

 

https://www.iol.co.z...k-soon-36872972

[andi222]

Interview by the new CEO. Super excited about the new board. Hopefully they can drive the company forward to its full potential. 

 

https://www.cnbcafri...ey-to-recovery/

[andi222]

Another good article:

 

https://www.itweb.co...zQenvj8xYLMZd2r

 

Will be interesting to see how half year results are gonna look like.

[andi222]

So Meeting was held and new board was appointed.

 

Already good news flowing in from the new board:

 

https://techcentral....spension/93873/

[andi222]

Weird they haven't announced anything regarding meeting today. Was everything approved??

They must submit a SENS for this.

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[andi222]

Yeah new management is trying to fix the troubles from old management.

They released a statement that interim financials will be published before end of Novemeber.

Then suspension will be lifted. So no need to worry if u are long.

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[nosh]

SUSPENSION OF LISTING


The JSE wishes to advise that the above mentioned company has failed to comply with the JSE's Listings
Requirements by not submitting its interim financial statements within the three-month period stipulated
in the Listings Requirements. Accordingly, the listing of this company's securities has been suspended with
immediate effect.

 

 

 

[andi222]

I think we have come to the turning point. From now on I think the share price will rise.

 

https://www.iol.co.z...-board-36339781

 

Strong cash generating subsidiary's, good cash flow, low level of debt is the key to make this company successful. 

 

Board issue have now been solved and the Visulatics issue will also hopefully be resolved in the interim results. 

[andi222]

Finally they have announced the new board.

Can't believe the old board was there for so long. They nearly destroyed the company

Latest Sens is out with good detail.

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[andi222]

Yes 11 November. The new directors actually want to sue the old ones for the delay 😅

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[SB45]

Is there a new date for date set for the meeting ?

[andi222]

Yes it is really concerning. And actually sad that directors these days can't just fix their issues. I mean this company has great potential but if directors dont do what they are paid for they can destroy any company. There need to be stricter rules for negligence like this.

Let's see how the new egm will go. Hopefully we will get some directors in who can solve the issues and not raise more of them.

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[SB45]

Thanks for the link Andi, quite concerning though for me is that governance topics keeps poping up. Many examples in recent history of what happens to shareholder value when governance is breached.

[andi222]

https://techcentral....ht-drama/93315/

Good article. Sums up the story. Directors need to sort out their issues.

Interesting tho Adapt IT is the party who wants to buy all shares. Very positive

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[andi222]

So meeting got postponed. Like wtf? They didn't have enough info to vote on??

Strange thing but most interesting tho is that ACC director announced a 40 Million Net profit for just one subsidiary. That's just crazy to say the least.

Yes that means 250 Million more shares will be issued due to warranties but with a profit like that it was a bargain.



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