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| Re: Curro, the next Capitec [message #97588] |
Mon, 09 July 2012 16:17   |
alf101 
Messages: 130
Registered: June 2012 |
Senior Member |
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| ram wrote on Mon, 09 July 2012 15:58 | Is PLD still there, or delist?
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SHARE CODE: PSG
ISIN CODE: ZAE000013017
("PSG")
PALADIN CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2007/032836/06)
Share code: PLD
ISIN: ZAE000138970
("PALADIN")
JOINT ANNOUNCEMENT: RESULTS OF SCHEME MEETING
Shareholders are referred to the announcements as published on SENS on 13
July 2011 and 24 August 2011, in the press on 14 July 2011 and 25 August
2011, and to the circular issued to Paladin shareholders on 24 August
2011 ("the Circular"), detailing the Scheme of Arrangement in terms of
section 114(1) of the Companies Act No 71 of 2008 ("the Companies Act"),
which has been proposed by PSG and is between Paladin and its
shareholders ("the Scheme"). The Scheme, if implemented, will result in
PSG acquiring the entire issued share capital of Paladin which
constitutes a total of 108 295 409 Paladin shares not already held by PSG
("Scheme Shares") for either the share consideration of 4 PSG shares for
each 100 Scheme Shares disposed of in terms of the Scheme or the cash
consideration of 170 cents for each Scheme Share disposed of.
Shareholders are hereby advised that the Scheme was approved by the
requisite majority of shareholders present and voting, in person or by
proxy, at the meeting of Scheme participants, being shareholders of
Paladin recorded in the register as such at Tuesday, 13 September 2011
and eligible to vote, held earlier today.
Shareholders are further advised that no dissenting shareholder notified
Paladin of their intention to oppose the special resolution nor was any
dissenting shareholder present at the Scheme Meeting to vote against the
special resolution.
Shareholders should note that the implementation of the Scheme remains
conditional upon the fulfilment of certain conditions precedent by no
later than 30 November 2011 as detailed in the Circular.
Further announcements regarding same will be released on SENS and
published in the press in due course.
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| Re: Curro, the next Capitec [message #97598] |
Mon, 09 July 2012 22:25 |
delta66 
Messages: 432
Registered: August 2010 |
Senior Member |
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| Cap wrote on Mon, 09 July 2012 14:28 | Guys - I had this ride with Advtech in 1996. It was the top performer on the JSE in 1996, with a 1046% increase that year. Great whilst everyone was piling on, but when the bubble bursts and the fundamentals kick in, you can lose your shirt. Advtech is only now getting to the point where they are achieving a suitable ROI on the investments that they have made with the schools - rememebr these are substantial capital investments that take time to ramp up. That is for organic growth, if you are banking on acquisitive growth, the issues are very different, but equally challenging - the cultures and methodologies used by the different schools that are acquired take a long time to unify and bed down, with much upheaval on the way.
Enjoy the ride for now, but when the retail investors run out of steam and you have to start relying on fundamentals, it will take about 10 years to get to the point where it falls from. Make sure you exit before the drop.
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yes, i remember Advtech back in the 90's..your words are sobering, COH is admittedly a risky investment, my intention is to reach 10% and exit. their price has been rocketing so i'm sure i'll see that by end this week or early next week.
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| Re: Curro, the next Capitec [message #97599] |
Mon, 09 July 2012 22:56 |
gammascalpa 
Messages: 416
Registered: June 2012
Location: Everywhere |
Senior Member |
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| delta66 wrote on Mon, 09 July 2012 22:25 | | Cap wrote on Mon, 09 July 2012 14:28 | Guys - I had this ride with Advtech in 1996. It was the top performer on the JSE in 1996, with a 1046% increase that year. Great whilst everyone was piling on, but when the bubble bursts and the fundamentals kick in, you can lose your shirt. Advtech is only now getting to the point where they are achieving a suitable ROI on the investments that they have made with the schools - rememebr these are substantial capital investments that take time to ramp up. That is for organic growth, if you are banking on acquisitive growth, the issues are very different, but equally challenging - the cultures and methodologies used by the different schools that are acquired take a long time to unify and bed down, with much upheaval on the way.
Enjoy the ride for now, but when the retail investors run out of steam and you have to start relying on fundamentals, it will take about 10 years to get to the point where it falls from. Make sure you exit before the drop.
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yes, i remember Advtech back in the 90's..your words are sobering, COH is admittedly a risky investment, my intention is to reach 10% and exit. their price has been rocketing so i'm sure i'll see that by end this week or early next week.
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Delta, others,
In case my opinions earlier in this string are misunderstood let me clarify my position.
The market case for what Curro (and any competitor) is offering is VERY sound IMHO.
Curro itself is a company with great prospects but I agree with others that one has to view it as a long term play. It will take time to build out capacity and to realize a return.
The current share price is way overdone after the past months run. Mkt cap of almost 4B can not really be justified at this moment in time. I did a rough guestimate of what earnings might look like without all the recent capex and estimated say around 36mil which would put this on a forward PE of 111.
After a returning >50% in the past 30days I sold 85% of my holding today but will get back in when the price comes back to a reasonable level.
Cheers
gamma 
Do not try and bend the market. That's impossible. Instead... only try to realize the truth. Then you'll see, that it is not the market that bends, it is only yourself.
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| Re: Curro, the next Capitec [message #97657] |
Tue, 10 July 2012 14:41 |
boerboel
Messages: 935
Registered: October 2010 |
Senior Member |
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we are shorting this stock -with all the script we can find
stock is a great short
the fact that it is very tightly held is the only reason why this stock is trading at these absurd levels
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| Re: Curro, the next Capitec [message #97776] |
Wed, 11 July 2012 21:02 |
gammascalpa
Messages: 416
Registered: June 2012
Location: Everywhere |
Senior Member |
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| harryb wrote on Wed, 11 July 2012 04:18 | Wil by jul hoor, dink julle hierdie dreigemente van Cosatu wat gemaak word gaan Curro se aandeel-prys beinvloed?
Terwyl dit nog so hoog is moet ek maar verkoop of byt ons vas?
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harryb,
my 2 cents...
I doubt Cosatu making a noise will have a huge impact. It wont help the share price, but it shouldn't result in any significant downside.
The bigger problem is the current valuation has got ahead of itself. If you are prepared to hold for 5-10years you'll be fine. 1-2 years, maybe not.
The government must recognize that by expanding the private sector in this segment of the market, it will reduce the burden on the state which then should be able to spend same budget on fewer students, those that really can't afford it. End result should be that both those who can and those who can not afford private ed should see an improvement in quality.
Note I say 'should'. Chances are the gov will mismanage this opportunity resulting in an even further decline in standards in the public setting...but lets be optimistic shall we?
gamma
Do not try and bend the market. That's impossible. Instead... only try to realize the truth. Then you'll see, that it is not the market that bends, it is only yourself.
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