Poll

I will Buy African Bank Shares @

Below R8
0 (0%)
Below R7
2 (8.3%)
Below R6
13 (54.2%)
Are you Mad !!
4 (16.7%)
Never
5 (20.8%)

Total Members Voted: 23

Author Topic: African Bank  (Read 64351 times)

Luna

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Re: African Bank
« Reply #45 on: August 11, 2014, 08:38:14 am »
Uhh not sure what does this mean now for people holding existing shares? ???

Alsie

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Re: African Bank
« Reply #46 on: August 11, 2014, 08:59:00 am »
It is actually very easy to understand.
If you hold ABIL shares, the total value of your holdings are now Rnil.
Eish.

Luna

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Re: African Bank
« Reply #47 on: August 11, 2014, 09:20:51 am »
lol shame

Shi

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Re: African Bank
« Reply #48 on: August 11, 2014, 10:20:49 am »
could be a while before the suspension is lifted - depends on what the criteria is for the suspension to be lifted - at worse I recon it is when the underwriters get out of the deal - not sure how they could agree to this (seemingly so easy). Abil will look completely different then.

jaDEB

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Re: African Bank
« Reply #49 on: August 11, 2014, 10:57:05 am »
It is actually very easy to understand.
If you hold ABIL shares, the total value of your holdings are now Rnil.
Eish.

And we are 100% sure my R3000 is now = Zero ?  :'(
jaDEB

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jaDEB

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Re: African Bank
« Reply #50 on: August 11, 2014, 01:53:40 pm »
Hopefully when they offer current shareholders rights to new Good Bank, A person can sell the rights.

Must say for our SARB to come up with the names, Good Bank and Bad Bank ? must have taken a lot of thought. What next, a colour in competition to work out the new logo's for Good Bank and Bad Bank.

Ag well, will right it down and out in my Bransby and 1time file. File getting big there jaDEB ...  :frustrated:
jaDEB

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Patrick

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Re: African Bank
« Reply #51 on: August 11, 2014, 02:31:01 pm »
Must say for our SARB to come up with the names, Good Bank and Bad Bank ? must have taken a lot of thought. What next, a colour in competition to work out the new logo's for Good Bank and Bad Bank.

I have my crayons ready  :D

Bundu

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Re: African Bank
« Reply #52 on: August 11, 2014, 03:46:57 pm »
Hopefully when they offer current shareholders rights to new Good Bank, A person can sell the rights.

Must say for our SARB to come up with the names, Good Bank and Bad Bank ? must have taken a lot of thought. What next, a colour in competition to work out the new logo's for Good Bank and Bad Bank.

Ag well, will right it down and out in my Bransby and 1time file. File getting big there jaDEB ...  :frustrated:

no, AFAIK that lame arsed ABL board came up with the names, as stated in their 6Aug sens
« Last Edit: Tomorrow at 06:13:55 PM by Bundu »

jaDEB

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Re: African Bank
« Reply #53 on: August 11, 2014, 03:51:00 pm »
Thanks Bundu,

my apologies to Gill Marcus.
jaDEB

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attuu

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Re: African Bank
« Reply #54 on: August 11, 2014, 04:19:20 pm »
It is actually very easy to understand.
If you hold ABIL shares, the total value of your holdings are now Rnil.
Eish.

And we are 100% sure my R3000 is now = Zero ?  :'(
Just trying to understand: if ABIL lists again, you should still have some value for your holdings, right?

jaDEB

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Re: African Bank
« Reply #55 on: August 11, 2014, 04:27:27 pm »
Apparently not, (although I hope so). You will receive rights to buy shares in the new "good" bank. I hope that you can sell your rights. Suppose we will have to wait for further announcement.

jaDEB

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attuu

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Re: African Bank
« Reply #56 on: August 11, 2014, 07:56:39 pm »
some said that ABIL Shareholders will not lose their shares

jaDEB

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Re: African Bank
« Reply #57 on: August 13, 2014, 10:42:36 am »
Do u not think it is a bit late Mr Moody, even the  :frustrated:' ing hamster know it, damn, and you get paid to do this.

 :wall:

Moody's Downgrades African Bank

AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank controlling company)
(Registration number 1946/021193/06)
Ordinary share code: ABL ISIN: ZAE000030060
Preference share code: ABLP ISIN: ZAE000065215
(“ABIL”)
and
AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Under curatorship)
(Registered bank)
(Registration number 1975/002526/06)
Company code: BIABL
(“African Bank”)

MOODY’S DOWNGRADES AFRICAN BANK’S LOCAL AND GLOBAL CREDIT RATINGS

ABIL announces that Moody’s Investors Service (“Moody’s” or “the agency”) has, on 12 August 2014,
downgraded African Bank Limited’s local national scale issuer ratings to Caa2.za/Not Prime.za from A3.za/P-
2.za and its global senior debt and deposit ratings to Caa2/Not Prime, from Ba1/Not Prime. In addition, the
long term global and national scale ratings have been placed on review for a further downgrade.

Moody’s stated that the downgrade of African Bank’s ratings reflect the expected losses that senior
bondholders and wholesale depositors of the bank will sustain, following the announcement by the South
African Reserve Bank (SARB) on 10 August 2014 that it placed African Bank under curatorship. The review
for downgrade, in Moody’s view, captures the implementation risks of SARB's restructuring plan for African
Bank, in conjunction with the risk of higher than anticipated losses that depositors and bondholders, other
than retail depositors, could incur.

13 August 2014
jaDEB

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Moneypenny

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Re: African Bank
« Reply #58 on: August 13, 2014, 10:45:33 am »
hehe!

jaDEB

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Re: African Bank
« Reply #59 on: August 13, 2014, 11:36:09 am »
Dit is van die dele waarna gekyk moet word – dat van die aandeelhouers oorskuif (na die nuwe entiteit wat geskep gaan word) en dat as ’n mens ’n uitgifte (vir die nuwe entiteit doen), hulle wel sal oorkom. Daar is wel die R10 miljard-onderskrywing (van ander banke) en hopelik kan ’n mens hulle die geleentheid gee om weer in ’n goeie bank in te kom.

Watch this Space - Hope I am wrong. The BEE portion (Share Holding) moves over and all other share holders only get rights to buy in again.


jaDEB

If it scares you, it's a sign you need to do it