Steinhof share slump

m.fin24.com/fin24/Companies/Retail/stein...-fraud-case-20170824

Sounds serious. Think they need a few 'Legal Eagles' to get out of this.

The more you earn the more you want. Even Floyd May weather is in trouble with tax authorities!!! Ridiculous

If this was Phindi, Moodley, they will have had numerous replies on this topic by now.

Innocent until proven guilty though

Watch how it unfolds....some straightshooting comments on the moneyweb site regarding MJ...

Its sensational journalism. It's an old story from 2015. Nothing new contained and seems vindictive. In 2015 it appeared before listing in Germany , it now reappears as they going to unbundle the African assets. Well known fact that offshore funds are short and perhaps this was the opportunity needed to cover. At these levels the share is ludicrously cheap on an earnings basis!

flaunt wrote: Its sensational journalism. It's an old story from 2015. Nothing new contained and seems vindictive. In 2015 it appeared before listing in Germany , it now reappears as they going to unbundle the African assets. Well known fact that offshore funds are short and perhaps this was the opportunity needed to cover. At these levels the share is ludicrously cheap on an earnings basis!

The writing was on the wall so they say....

Close of play score........over 208 million shares traded..........



STEINHOFF INT HLDGS N.V- SNH

1000 -761 (-43.21%)

Thu 7 Dec, 17:03,

buy now

jimbo wrote: buy now

Wait till R6

....what I find amusing is that some recon that Weise who has lost a chunk of his nett worth since yesterday.....is going to turn this sucker around..... :huh:

The companies steinhoff own are mainly very good companies.

the problem is the amount of debt that steinhoff seems to have built up against these assets.

i imagine Wiese will offer 30 cents on the rand for the debt and a fair price for all the share seems 6 rand is the number and then take the whole mess private.

Non listed entities like Mayfair speculators/Klavervlei may be part of court cases to try recover monies if any are owed to investors or such.

there are a few other companies with similar structures to Steihoff imagine we will see some sort of broad investigation by JSE/Reserve bank into these other companies.

will be very interesting to see how this all plays out.

this could be our final nail in terms of Junk status on the 15th/16th June.