Author Topic: Steinhoff  (Read 74803 times)

Bundu

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Re: Steinhoff
« Reply #75 on: August 24, 2017, 10:19:27 am »
WTF SNH?
« Last Edit: Tomorrow at 06:13:55 PM by Bundu »

Moonraker

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Re: Steinhoff
« Reply #76 on: August 24, 2017, 10:28:04 am »
WTF SNH?

The bastards!

From Sharechat site DividendTycoon

Quote
A translation from a German magazine below:
 
The public prosecutor's office in Oldenburg is investigating the chairman of the furniture manufacturer Steinhoff, Markus Jooste, because of the suspicion of the balance sheet forgery. This is reported by the manager magazine in its new edition, which will be available on Friday, August 25th. In addition, another high-ranking group manager as well as two other men from the MDax Group, the second largest European furniture manufacturer behind Ikea and the "Poco" furniture market, were accused.
The public prosecutor's office, which has been established since 2015, has the suspicion that "excessive revenues have been included in the balance sheets of group-owned companies". The background is contracts for the sale of intangible assets and / or company shares. Sellers and buyers were companies that were to come from Steinhoff. According to the public prosecutor's office, the various transactions are "three-digit millions". She rejected a comment on the names of the accused.
During raids in the offices of the Steinhoff-Europa headquarters in Westerstede as well as in the private homes of two Steinhoff confidants, the investigators ensured documents, which are supposed to have been signed by Andreas Seifert, co-managing director of the XXXLutz furniture chain.Seifert told the manager magazine that he had "never seen the papers before and had not signed them". He filed a criminal complaint for counterfeiting.
 
The Steinhoff Group, which also includes the German Möbeldiscounter Poco, employs more than 130,000 people on five continents. In the first six months of the current financial year, the company's financial position has deteriorated. The operating profit margin fell from 11.6 to 8.8 percent. Net debt fell from 2.9 to 6.5 billion euros.

Bundu

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Re: Steinhoff
« Reply #77 on: August 24, 2017, 10:32:26 am »
 :'( :'( :'( :'(
« Last Edit: Tomorrow at 06:13:55 PM by Bundu »

Moonraker

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Re: Steinhoff
« Reply #78 on: August 24, 2017, 04:02:31 pm »
Sorry, thought it was the mafiosi. I have had it with these chaps. Wiese is a wealth destroyer (Brait as well) and together with Marcus they can only mess up even more.
https://heft.manager-magazin.de/MM/2017/9/152773870/index.html

Bundu

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Re: Steinhoff
« Reply #79 on: August 24, 2017, 04:42:26 pm »
SENS doesn't look too bad?
« Last Edit: Tomorrow at 06:13:55 PM by Bundu »

Moonraker

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Re: Steinhoff
« Reply #80 on: August 24, 2017, 05:13:25 pm »
Currently down ± 9½% in Frankfurt, from ±14% earlier.
But I must say I have lost faith.
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Certain companies in the group are involved in disputes where the outcomes are uncertain.
However, the directors are confident that they will be able to defend these actions successfully
and that the potential impact on the group will not be material.

gcr

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Re: Steinhoff
« Reply #81 on: August 24, 2017, 06:56:26 pm »
They don't called Weise and his colleagues - the Stellenbosch mafia for nothing >:D
Not everything that counts, can be counted, and, not everything that can be counted counts - Albert Einstein

Larry

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Re: Steinhoff
« Reply #82 on: November 02, 2017, 09:35:55 am »
Any Idea whats happening with SNH the last 2 days ?  :wtf: :wall: :laugh:

Moneypenny

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Re: Steinhoff
« Reply #83 on: November 02, 2017, 10:42:24 am »
Legal issues in Germany & Netherlands with listing of Steinhoff Africa Retail (Star) & prosecutors are investigating Steinhoff CEO Markus Jooste/some senior managers in connection with suspected accounting fraud.

Larry

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Re: Steinhoff
« Reply #84 on: November 02, 2017, 11:33:21 am »
 :wall: :-[ ::)

Thanks

Moneypenny

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Re: Steinhoff
« Reply #85 on: November 02, 2017, 01:41:23 pm »
Don't despair, investing is long term - it will sort itself out in time.

Consensus from some broker houses today actually shows a 'buy' on SHF.

Personally I would give it until mid Dec to go in and reconsider during the winter months next year.  I'm not suggesting what anybody should do, I'm telling you what I will do.    :)

Bundu

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Re: Steinhoff
« Reply #86 on: November 02, 2017, 04:42:35 pm »
I see one of the directors of SNH just bought R4m worth of shares
« Last Edit: Tomorrow at 06:13:55 PM by Bundu »

Moneypenny

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Re: Steinhoff
« Reply #87 on: November 02, 2017, 05:27:22 pm »
Jip, nice reversed pump and dump (dump & pump) they did there.  +0.58%

Bundu

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Re: Steinhoff
« Reply #88 on: November 06, 2017, 05:30:15 pm »
anybody know what the SNH SENS this afternoon means in noob language?


"DEALING IN SECURITIES BY A DIRECTOR

 NAME OF DIRECTOR                           :   Christoffel Hendrik Wiese

 STATUS                                     :   Supervisory Board Director

 COMPANY                                    :   Steinhoff International Holdings NV

 TYPE OF SECURITIES                         :   Single Stock Futures

 DATE OF TRANSACTION                        :   3 November 2017

 CURRENCY                                   :   ZAR

 CENTS PER SHARE                            :   6146,394

 NUMBER OF SECURITIES TRANSACTED            :   20,000 contracts representing
 
                                                                           2,000,000 ordinary shares

 NATURE OF TRANSACTION                      :   Purchase of shares on market

 NATURE AND EXTENT OF DIRECTOR'S            :   Indirect beneficial
 INTEREST IN THE TRANSACTION                                             
 
 CONFIRMATION THAT CLEARANCE HAS            :   Yes
 BEEN GOVEN FOR THE TRADE                                               
 
 DATE OF CONFIRMATION                       :   3 November 2017"
« Last Edit: Tomorrow at 06:13:55 PM by Bundu »

Moonraker

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Re: Steinhoff
« Reply #89 on: November 06, 2017, 06:36:50 pm »
He's going long as he thinks the share price will rise. May have something to do with the Amsterdam court outcome towards the end of this month. If the court ruling is what we are hoping for, we can surely assume a decent price increase.  :-X