At what price?
Normally they say dont chase good money after bad money...
IN the case of the PS , its more like no money chasing bad money!!!
IMO the true value of the PS is 0...Mr Market is generous because of Pepkor Arica which is the only sub thats has value...All others valued at NIL by the market.
IF CW gets his way , that will go too and then back to 0
This share has had AMPLE opportunity to break its all time low. So far.....
Take this exert from the Going Concern conclusion. When I read this, my initial thought was 'oh f@k, there goes my money'
The Management Board draw attention to the following facts:
(i) the Group’s current liabilities exceed current assets; and
(ii) that these material uncertainties extend beyond the foreseeable future. These facts therefore cast significant doubt upon the Company and Group’s ability to continue as a going concern beyond the foreseeable future
But..... this share persists. I believe this share is teetering on a knife edge at this price. Yes, mainly due to Pepkor and in some respects, a slight glimmer of hope RE: MF.
However that goes with saying that I do not believe we have seen the bottom of this share. (should litigation take a turn for the worst)
Let me ask you this... Let's say, CVA is finalized, restructuring is agreed upon, and SNH can start slowly rebuilding. and then a big IF, all large scale claims are dropped / settled in a way the market deems fair. You'd still not give this share the light of day? Equity wise.
FWIW, I'm not looking for guidance this particular post, I am confident with my position, just for conversation's sake.