Forum Search:

Search Search   Help Help   Register Register   Login Login   Home Home
Home » ShareChat » ShareChat » ACL JSE trading halt
ACL JSE trading halt [message #50420] Fri, 26 February 2010 13:33 Go to next message
CFD Trader
Messages: 570
Registered: January 2010
Location: Pretoria,ZA
Senior Member
Arcelormittal South Africa



Dear Clients



Please note that Arcelormittal South Africa has requested that the JSE halt Trading.

Trading should resume on the 3rd March.

Regards

Global Trader
Report message to a moderator
Re: ACL JSE trading halt [message #50422] Fri, 26 February 2010 13:41 Go to previous messageGo to next message
jaDEB  United Kingdom
Messages: 1061
Registered: February 2006
Location: Boksburg
Senior Member
Hey, I thought u taking your wife & kids to Kruger park........Family time....Family time.......!!!!!!!!Switch off and spend some time with Family......(Are you listening jaDEB !!!)

jaDEB

"Sometimes the Dragon wins..."
Report message to a moderator
Re: ACL JSE trading halt [message #50440] Fri, 26 February 2010 14:46 Go to previous messageGo to next message
sums191
Messages: 220
Registered: August 2009
Location: n/a
Senior Member
Shareholders are notified that ArcelorMittal has received notice from Sishen Iron Ore Company (Proprietary) Limited ("SIOC") cancelling the supply agreement entered into between the company and SIOC in 2001 ("the agreement"), and advising that with effect from 1 March 2010, it will no longer supply Iron Ore
to ArcelorMittal, on a cost plus 3% basis. ArcelorMittal has rejected SIOC's repudiation of the agreement and will
institute urgent proceedings against SIOC to enforce the agreement if the appropriate undertakings are not received from SIOC..
Due to the price sensitive nature of this information, the company has requested that the JSE halt trading until a further announcement is made on Wednesday 3 March 2010.
Report message to a moderator
Re: ACL JSE trading halt [message #50460] Fri, 26 February 2010 16:48 Go to previous messageGo to next message
perreby  South Africa
Messages: 2887
Registered: October 2006
Senior Member
I posted this 29 October 2009... Rolling Eyes

Bulls,

I wouldnt go near acl right now. They may not get preferential pricing from KIO anymore. (They got cost +3% from KIO in the past, they may have to start paying market prices now for the ore they want). This will put their margins under severe pressure in future.

So the news isn't exactly unexpected Rolling Eyes

Gaan groot of gaan huis toe
Report message to a moderator
Re: ACL JSE trading halt [message #50463] Fri, 26 February 2010 16:58 Go to previous messageGo to next message
Pothole  South Africa
Messages: 1970
Registered: September 2007
Senior Member
No Message Body

[Updated on: Fri, 26 February 2010 16:59]

The Share Market is NOT driven by Fundamentals.....
Greed, Fear, ..... Patience!!

*** Please do own research ***
Report message to a moderator
Re: ACL JSE trading halt [message #50471] Fri, 26 February 2010 17:21 Go to previous messageGo to next message
hdbb  South Africa
Messages: 539
Registered: August 2009
Location: By the sea
Senior Member
perreby wrote on Fri, 26 February 2010 16:48
I posted this 29 October 2009... Rolling Eyes

Bulls,

I wouldnt go near acl right now. They may not get preferential pricing from KIO anymore. (They got cost +3% from KIO in the past, they may have to start paying market prices now for the ore they want). This will put their margins under severe pressure in future.

So the news isn't exactly unexpected Rolling Eyes



Why shouldnt they get the preferential price? They have a valid signed contract for that and KIO have been trying for ages to get out of it...See them in Court Rolling Eyes

hdb
The mediocre teacher tells.The good teacher explains.The superior teacher demonstrates. The great teacher inspires!!
Report message to a moderator
Re: ACL JSE trading halt [message #50549] Mon, 01 March 2010 10:09 Go to previous messageGo to next message
CFD Trader
Messages: 570
Registered: January 2010
Location: Pretoria,ZA
Senior Member
Well Court won't exactly help them to recover losses and still get same OLD prices...once this share rockets down when JSE trading opens on Wed again, good luck long ones... he he

This Arbitration process won't be quick and they could lose millions as they have no other immediate supplier of Iron Ore on standby..

Ur necks will be dislodged soon..

Nice one perreby !! and good luck to Mr Mittal Smile

SA 1, India 0
Report message to a moderator
Re: ACL JSE trading halt [message #50694] Wed, 03 March 2010 09:23 Go to previous messageGo to next message
sums191  South Africa
Messages: 220
Registered: August 2009
Location: n/a
Senior Member
Any idea what time trading would resume?
Report message to a moderator
Re: ACL JSE trading halt [message #50696] Wed, 03 March 2010 09:30 Go to previous messageGo to next message
Cut Loss  South Africa
Messages: 314
Registered: July 2008
Location: PTA
Senior Member
Where a suspension of a constituent of the FTSE/JSE Top 40 Index
lasts beyond noon on the second trading day, the Secretary to the
FTSE/JSE Advisory Committee will convene a meeting of the
FTSE/JSE Advisory Committee (to be held, if possible, after
market hours on the second day or by teleconference) to consider
whether the constituent should be
removed. When a stock has been
suspended for five consecutive trading days (and the Committee
has not exercised an earlier discretion to remove it), it will
normally be deleted from the Index on the sixth trading day.
As a result, FTSE and the JSE announces that ACL will remain in the indices
until announced otherwise. It is expected that the company will make a further
announcement on Wednesday, 3 March 2010.
Report message to a moderator
Re: ACL JSE trading halt [message #50715] Wed, 03 March 2010 13:09 Go to previous messageGo to next message
CFD Trader
Messages: 570
Registered: January 2010
Location: Pretoria,ZA
Senior Member
Short KIO
Report message to a moderator
Re: ACL JSE trading halt [message #50726] Wed, 03 March 2010 15:30 Go to previous messageGo to next message
sums191  South Africa
Messages: 220
Registered: August 2009
Location: n/a
Senior Member
Trading to resume 15:30
Watch the big sellers!
Report message to a moderator
Re: ACL JSE trading halt [message #50727] Wed, 03 March 2010 15:32 Go to previous messageGo to next message
beonedge  South Africa
Messages: 9
Registered: January 2010
Location: South Africa
Junior Member
it hurts me just thinking about the margin calls the guys who went long are gonna get. Ouch! Shocked
Report message to a moderator
Re: ACL JSE trading halt [message #50730] Wed, 03 March 2010 15:39 Go to previous messageGo to next message
sums191  South Africa
Messages: 220
Registered: August 2009
Location: n/a
Senior Member
I'm short hmm wonder if I should close now or later.
Report message to a moderator
Re: ACL JSE trading halt [message #50731] Wed, 03 March 2010 15:40 Go to previous messageGo to next message
beonedge  South Africa
Messages: 9
Registered: January 2010
Location: South Africa
Junior Member
@sums191 think you should let it run. Guys will see the opening price and panic sell
Report message to a moderator
Re: ACL JSE trading halt [message #50732] Wed, 03 March 2010 15:41 Go to previous messageGo to next message
brutus  South Africa
Messages: 129
Registered: December 2007
Senior Member
Down 24% already.

This is really going to hurt CFD/SSF holders who are long!!

On the bright side, should provide a buying opportunity at some stage, as over-selling will inevitably set in.
Report message to a moderator
Re: ACL JSE trading halt [message #50733] Wed, 03 March 2010 15:44 Go to previous messageGo to next message
hanzo  South Africa
Messages: 100
Registered: December 2009
Location: Cape Town
Senior Member
to all palm readers,fortune tellers,Traders,Analyst and Fundamentalist
what wud be the RIGHT price to get in?
Report message to a moderator
Re: ACL JSE trading halt [message #50734] Wed, 03 March 2010 15:46 Go to previous messageGo to next message
sums191  South Africa
Messages: 220
Registered: August 2009
Location: n/a
Senior Member
some big buyers already
Report message to a moderator
Re: ACL JSE trading halt [message #50735] Wed, 03 March 2010 15:52 Go to previous messageGo to next message
hanzo  South Africa
Messages: 100
Registered: December 2009
Location: Cape Town
Senior Member
Bought at R90.00
let's c wat happens...!!! Shocked
Report message to a moderator
Re: ACL JSE trading halt [message #50736] Wed, 03 March 2010 16:10 Go to previous messageGo to next message
Velocity  South Africa
Messages: 123
Registered: June 2009
Location: Pretoria
Senior Member
Took my profit on my short im outa here Laughing
Report message to a moderator
Re: ACL JSE trading halt [message #50737] Wed, 03 March 2010 16:12 Go to previous messageGo to previous message
hanzo  South Africa
Messages: 100
Registered: December 2009
Location: Cape Town
Senior Member
Almost 4Mil traded so far...
must be a record for Jse...lol
Report message to a moderator
Previous Topic:Steinhoff looking good (results out)
Next Topic:Timing
Goto Forum:
  

[ Syndicate this forum (XML) ] [ RSS ]

Current Time: Fri Jul 30 17:45:06 SAST 2010
.:: Contact :: Home ::.

Powered by: FUDforum 2.8.1.
Copyright ©2001-2009 FUDforum Bulletin Board Software
Sharechat is sponsored by Sharenet - Your key to Investing on the JSE