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What does the Big Mac Index really measure?

(In other words there are too many variables for the index to be really meaningful).

A further huge boost to resource prices might get us closer to Orca's R8.00   

Good news..

Steinhoff International Holdings N.v. - Withdrawal Of Cautionary Announcement

Release Date: 20/02/2017 10:45:00      Code(s): SNH SHP     Email this JSE Sens Item to a Friend   Printer Friendly Version
Withdrawal of cautionary announcement

Steinhoff International Holdings N.V.                Shoprite Holdings Limited
(Incorporated in the Netherlands)                    (Incorporated in the Republic of South Africa)
(Registration number: 63570173)                      (Registration number: 1936/007721/06)
Share Code: SNH                                      JSE Share Code: SHP
ISIN: NL0011375019                                   NSX Share Code: SRH
("Steinhoff")                                        ISIN: ZAE000166997
                                                     ("Shoprite")


WITHDRAWAL OF JOINT CAUTIONARY ANNOUNCEMENT

Shareholders of Steinhoff and Shoprite (together “the Companies”) are referred to the joint
announcement of the Companies on 14 December 2016 (“the Cautionary Announcement”), regarding the
negotiations between the Companies, initiated by the Public Investment Corporation SOC Limited (“PIC”)
and Titan Premier Investments Proprietary Limited (“Titan”) as the largest shareholders of the
Companies.

The Cautionary Announcement dealt with the potential sale of Steinhoff’s Africa retail assets to Shoprite
(“the Proposed Transaction”), as well the possible exchange by the PIC and Titan of their Shoprite shares
for Steinhoff shares at an “to be agreed” ratio (“the Share Exchange”).

Shareholders of the Companies are hereby informed that the Companies have decided to terminate their
negotiations related to the Proposed Transaction as the PIC, Titan and Steinhoff could not reach
agreement on the exchange ratio that would apply to the Share Exchange.

The Proposed Transaction was investigated and analysed by the respective management teams of
Steinhoff and Shoprite, and although the Proposed Transaction presents exciting opportunities for the
Companies and their respective management teams, the fact that the relevant parties could not reach an
agreement in respect of the Share Exchange resulted in the negotiations being terminated.

Accordingly, shareholders of Steinhoff and Shoprite are advised that caution is no longer required to be
exercised by shareholders when dealing in their Steinhoff and/or Shoprite securities.


Stellenbosch and Cape Town
20 February 2017

Nedbank Green Savings Bonds 12.58%

https://www.nedbank.co.za/content/nedbank/desktop/gt/en/personal/interest-rates/account-interest-rates.html

Sounds like more than it is. That is of course the effective rate (compounding) and not the nominal rate of 9.80%
Not bad but 60 months is too long, rather go for a money market fund @±7.5%-8%
Rates may rise during those 5 years and then you won't be locked in to 9.80%

Is this what's causing the Rand volatility, and weaker tendency today ?
http://www.fin24.com/Markets/Currencies/rand-tanks-on-zumas-defiance-comment-20170127

Yes, it is ZAR strength - even against the £ which has gained against both $ and Euro.
Think it has to do with SARB being more hawkish in their rates outlook compared to their
last meeting. Plus of course the upwards momentum in resource prices.
A temporary phenomenon, ZAR is structurally weak even without political influences.
Expect a weaker ZAR towards end 2017. Say 14.20 to the $ ??

Scitec - a recent Ascendis Health acquisition. http://www.scitecnutrition.com/en
Scitec is one of the top three leading sports nutrition brands across Europe and is well established in key global markets.
The business was acquired for €170 million, with a payment of €20 million deferred for one year. Scitec owns a modern
manufacturing plant where the company produces close to 300 products for functional fitness, strength training and well-
being. The acquisition provides a platform for international expansion in the sports nutrition and wellness sectors, while
accelerating offshore opportunities for Ascendis sports nutrition brands Evox, Supashape and SSN. Scitec generated profit after
tax of €10.6 million for the year ended December 2015 (before any add-backs).


Check out the video I circled. (Control yourselves). 

Hmmm.. Perhaps only applicable to trusts - 'tainted preference shares'
The Income Tax Act currently contains complex rules which seek to recharacterise preference share funding as debt in certain circumstances.

I hold some pref. shares which are subject to 15% withholding tax (unlike local REITS where there is no withholding tax). I don't think anything will change, but will
check in March when divs. are due.

http://www.moneyweb.co.za/investing/property/sa-focused-property-stocks-emerge-as-best-performers/

(Not all offshore REITS were complete dogs, but the UK based ones were really bad .. due to £ weakness).

PS. The local REITS like RDF, GRT, and some others are still mainly ZA focused (±80% of portfolio).