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General Category => Shares => Topic started by: jaDEB on March 19, 2014, 10:09:44 am

Title: Steinhoff
Post by: jaDEB on March 19, 2014, 10:09:44 am
OFFER BY STEINHOFF TO ACQUIRE UP TO 98% OF JD GROUP LIMITED (“JD GROUP”)


Shareholders of JD Group are referred to the announcement released by Steinhoff
International Holdings Limited (“Steinhoff”) dated 18 March 2014, regarding the offer
by Steinhoff to acquire up to 98% of the issued ordinary shares in JD Group. The
content of Steinhoff’s announcement, without modification, is set out below.


1.   INTRODUCTION

     Steinhoff hereby offers to      acquire from JD Group shareholders (“JD Group
     Shareholders”) up to 98% of    the issued ordinary shares in JD Group (“JD Group
     Shares”) excluding treasury    shares (“Tender Offer”). Steinhoff currently owns
     56.8% of the issued JD Group   Shares (excluding treasury shares) and has received
     commitments from a number of    institutional and individual JD Group Shareholders
     to accept the Tender Offer,     which will result in an increase in Steinhoff’s
     shareholding in JD Group.

2.   CONSIDERATION PAYABLE IN RESPECT OF THE TENDER OFFER

     The consideration payable by Steinhoff in terms of the Tender Offer will be
     settled by the issue to JD Group Shareholders accepting the Tender Offer of one
     listed ordinary share in Steinhoff (“Steinhoff Share”), credited as fully paid
     and ranking pari passu with the existing Steinhoff shares in issue, for every 1.9
     JD Group Shares in respect of which the Tender Offer has been accepted
     (equivalent to an offer price of R27.77 per JD Group Share at Steinhoff’s five-
     day volume weighted average price (“VWAP”) of R52.77 on 17 March 2014, which
     represents a 38.1% premium to JD Group’s five-day VWAP of R20.11 on this date).
Title: Re: Steinhoff
Post by: michaessers on March 19, 2014, 12:51:51 pm
Can anyone explain why Steinhoff would want to acquire JG group? is it to protect their existing exposure? Surely JD Group is too big a mess to try and fix?
Title: Re: Steinhoff
Post by: Moneypenny on March 19, 2014, 01:30:53 pm
 I always had the idea that KAP & JDG was subsidiaries of SHF?  Donno where I got that.
Title: Re: Steinhoff
Post by: jaDEB on March 19, 2014, 02:08:56 pm
RATIONALE FOR THE TENDER OFFER

     As indicated in JD Group’s interim results announcement on 20 February 2014, JD
     Group is facing many challenges in the furniture retail and consumer finance
     business segments. These challenges will take some time and additional capital to
     overcome. The increase of Steinhoff’s investment in JD Group, in an expedient
     manner, will enhance Steinhoff’s ability to support the operations of JD Group.

     The Tender Offer will provide JD Group Shareholders with an attractive premium to
     the current JD Group share price and an opportunity to invest in Steinhoff. As
     the second largest furniture retailer in Europe, and with a good growth
     trajectory, Steinhoff gives JD Group Shareholders international exposure and
     greater liquidity.
Title: Re: Steinhoff
Post by: Moneypenny on September 02, 2014, 11:27:56 am
SHF down -3.16% now because JD Group last night reported a serious full-year loss (570 c/share, previous year 395.2 c/share earning).  JD group will also sell their financial division with bad debt rising (another Abil waiting in the wings).

DJ Group share price up today +4.23%.

SHF full-year earning up by 15%.  Both companies due to report this month.

Now does this seem fair.  Rhetorical.
Title: Re: Steinhoff
Post by: jaDEB on September 04, 2014, 10:43:42 am
Who has this in Portfolio ?
Title: Re: Steinhoff
Post by: Alsie on September 04, 2014, 11:16:30 am
I see myself as a long term investor and this one deserves a place.
Don't understand the massive sale, but have topped up at the lower level.
Title: Re: Steinhoff
Post by: Neil on September 04, 2014, 03:57:50 pm
I have it my portfolio
Title: Re: Steinhoff
Post by: jaDEB on September 04, 2014, 05:00:44 pm
What did u buy at ? lower than current levels? or higher.

Steinhoff International is an integrated retailer that manufactures, sources and retails furniture and household goods in Europe, Africa and Australia. In addition, the group owns diversified industrial businesses in southern Africa through supply chain solutions, passenger services, timber products and manufacturing operations across diverse industries

Title: Re: Steinhoff
Post by: Neil on September 11, 2014, 11:47:29 am
got them at 52.76, got them when I swapped my JDG shares for Steinhoff shares when Steinhoff was buying up JDG shares. I also took up the Steinhoff rights offer shares.

Iv got a sell limit order valid for a month on them at R60 currently. I want to sell them and use the bucks to buy some RAFISA
Title: Re: Steinhoff
Post by: Alsie on September 12, 2014, 06:58:53 am
This supports my sentiment of good upside potential still.   ;) ;D
http://today.moneyweb.co.za/article?id=775829#.VBJ9F0kaLIU
Title: Re: Steinhoff
Post by: chang9015 on August 07, 2015, 09:28:33 pm
SHF firm Intention Announcement http://www.sharenet.co.za/v3/sens_display.php?tdate=20150807170000&seq=55

Now, I understood this to be a good thing? since its a move towards listing on FSE etc.... what I don't understand is, why there are people on various social media networks displaying displease and negative sentiment towards this.

Am I missing something?
Title: Re: Steinhoff
Post by: Bundu on August 07, 2015, 10:14:19 pm
I would also like to know what the downside could be?

Europe seems to be slowly recovering..... at least more than this shithole we live in....
Title: Re: Steinhoff
Post by: Moonraker on December 07, 2015, 02:03:50 pm
SNH listed on Frankfurt stock exchange today (pity about the tax stuff)..

Real time snapshot gif ..

Title: Re: Steinhoff
Post by: Patrick on December 07, 2015, 02:10:40 pm
Real time snapshot gif ..

Off topic, but that's so cool! How did you do that?
Title: Re: Steinhoff
Post by: Moonraker on December 07, 2015, 03:40:52 pm
Real time snapshot gif ..

Off topic, but that's so cool! How did you do that?
I don't know with Windows as I am on Linux.
With Linux I used a screen recorder to capture in ogv format, named to out.ogv ..

First install this:
sudo apt-get install imagemagick mplayer gtk-recordmydesktop

That's the required stuff, ImageMagick, MPlayer and Desktop Recorder. Then use Desktop Recorder to capture a portion of the screen/application to use as the screencast. After the Desktop Recorder has saved the recording into an OGV video, MPlayer will be used to capture JPEG screenshots, saving them into the 'output' directory.

In terminal:
mplayer -ao null out.ogv -vo jpeg:outdir=output

Use ImageMagick to convert the screenshots into an animated gifs.
convert output/* output.gif

You can optimize the screenshots this way:
convert output.gif -fuzz 10% -layers Optimize optimised.gif

another way to optimize gif is to use gifsicle: gifsicle -O in.gif -o out.gif I just tried and got 100x reduction in file size.

(If you are using Ubuntu, Byzanz will do the job for you - but you need to install from a ppa as not in the repos.).
Title: Re: Steinhoff
Post by: Moonraker on December 07, 2015, 03:50:23 pm
Steinhoff listing largest in Germany this year (http://www.fin24.com/Companies/Retail/steinhoff-listing-largest-in-germany-this-year-20151207)
Title: Re: Steinhoff
Post by: Moonraker on December 09, 2015, 04:35:51 pm
SNH battling to get above IPO price. Bored so another snapshot of real time trades....

Title: Re: Steinhoff
Post by: Bundu on December 09, 2015, 04:55:09 pm
yes, it seems like buyers are concerned about the investigation into SNH in Germany - people don't trust management any more, perhaps with good reason

what link are you using Moonraker?
Title: Re: Steinhoff
Post by: Moonraker on December 09, 2015, 05:16:05 pm
yes, it seems like buyers are concerned about the investigation into SNH in Germany - people don't trust management any more, perhaps with good reason

what link are you using Moonraker?
Agreed, the investigation is holding the price back, plus DAX is down. However index tracker funds still need to include SNH which should lend good support.
Price should go to R90/R100 in 2 months or so.

http://www.boerse-frankfurt.de/aktie/Steinhoff-International-Aktie
Title: Re: Steinhoff
Post by: Bundu on December 09, 2015, 05:31:22 pm
yes, it seems like buyers are concerned about the investigation into SNH in Germany - people don't trust management any more, perhaps with good reason

what link are you using Moonraker?
Agreed, the investigation is holding the price back, plus DAX is down. However index tracker funds still need to include SNH which should lend good support.
Price should go to R90/R100 in 2 months or so.

http://www.boerse-frankfurt.de/aktie/Steinhoff-International-Aktie

Great, lets hope so!

Can you maybe explain their SENS to me - I don't understand SSF... Is Wiese long or short?

"Details of the person subject to the disclosure requirement
Last name: Wiese
First name: Christoffel Hendrik

Position: Member of an administrative or supervisory body

Information about the transaction with duty of notification

Description of the financial instrument: Single Stock Futures
ISIN/WKN of the financial instrument: -
Type of transaction: Physically delivery of shares
Date: 08.12.2015
Price: 5.026
Currency: EUR
No. of items: 2,019,800
Total amount traded: 10151797.57
Place: Johannesburg Stock Exchange, South Africa

Description of the derivative

Description of the underlying instrument: -
Underlying (WKN/ISIN): -
Price multiplier:
Strike price:
Currency: EUR
Expiration date: 00.00.0000

Explanation for publication:

Physical delivery of shares following exercise of single stock futures
totalling 20,198 contracts, representing 2,019,800 ordinary shares with
a total value of ZAR161,139,644. Indirect beneficial trade concluded in ZAR
on the Johannesburg Stock Exchange. Foreign currency amounts are translated
into Euros at the rate of ZAR 0.063 : 1 Euro, Price 79.78
ZAR, Volume 161,139,644 ZAR, 20,198 contracts representing 2,019,800
shares. (Currency source : Reuters)"
Title: Re: Steinhoff
Post by: Moonraker on December 09, 2015, 05:48:01 pm
Looks like 'long' because he is taking physical delivery of the shares; with 'short' he would be delivering ?
Title: Re: Steinhoff
Post by: Bundu on December 09, 2015, 05:55:44 pm
Looks like 'long' because he is taking physical delivery of the shares; with 'short' he would be delivering ?

I hope so - I often can't get my head around some of these terms, even after googling them..... too stupid for this  :-[ :mad:
Title: Re: Steinhoff
Post by: Moonraker on December 09, 2015, 05:58:49 pm
Looks like 'long' because he is taking physical delivery of the shares; with 'short' he would be delivering ?

I hope so - I often can't get my head around some of these terms, even after googling them..... too stupid for this  :-[ :mad:
Did you see my question mark ? We are in the same boat - never worked with SSF's ...  :'(
Title: Re: Steinhoff
Post by: Moonraker on December 10, 2015, 11:50:28 am
http://www.boerse-frankfurt.de/aktie/Steinhoff_International-Aktie

(Old link given no longer works.).
Title: Re: Steinhoff
Post by: Bundu on December 10, 2015, 12:32:46 pm
yip, saw that - SNH and SOL moving up nicely today after that showerhead did his corrupt thing :whistle:
Title: Re: Steinhoff
Post by: Fawkes85 on December 10, 2015, 01:12:08 pm
yip, saw that - SNH and SOL moving up nicely today after that showerhead did his corrupt thing :whistle:

I know right? I will never understand the markets. If there ever was a reason to believe that the SA economy is heading for rock bottom, now would be that time. Yet the market is not doing poorly at all. In fact I am well up for the day. MAKES NO SENSE!!!!
Title: Re: Steinhoff
Post by: Bundu on December 10, 2015, 01:23:04 pm
yip, saw that - SNH and SOL moving up nicely today after that showerhead did his corrupt thing :whistle:

I know right? I will never understand the markets. If there ever was a reason to believe that the SA economy is heading for rock bottom, now would be that time. Yet the market is not doing poorly at all. In fact I am well up for the day. MAKES NO SENSE!!!!

most shares that have earnings that are USD related (or any foreign currency basically) should be up, as for every USD they earn, they now get more Rands
Title: Re: Steinhoff
Post by: Moonraker on December 10, 2015, 01:25:47 pm
Because you have rand hedge stuff - the SA Inc stocks are suffering. Eg. local REITS down 8-10% following the long bond yield which is up to 9,5% from 8,8% yesterday. Offshore REITS like CCO RPL NEPI all up nicely.
Title: Re: Steinhoff
Post by: Fawkes85 on December 10, 2015, 01:27:19 pm
I understand that principle but then why is Santova struggle like that today? They have a pretty serious offshore stamp. And what I mostly struggle to understand is why the ALSI did not take a nosedive today. It has been trading pretty flat all day and was even up for a while.
Title: Re: Steinhoff
Post by: Bundu on December 10, 2015, 01:35:07 pm
I understand that principle but then why is Santova struggle like that today? They have a pretty serious offshore stamp. And what I mostly struggle to understand is why the ALSI did not take a nosedive today. It has been trading pretty flat all day and was even up for a while.

if you look at the biggest trades, they are mostly up
Title: Re: Steinhoff
Post by: Moonraker on December 12, 2015, 06:53:28 pm
I suppose PEP is weighing on SNH. As we all know retailers were decimated.
Title: Re: Steinhoff
Post by: Bundu on December 12, 2015, 07:45:03 pm
I suppose PEP is weighing on SNH. As we all know retailers were decimated.

probably, but AFAIK SNH makes around 60% of their money in Europe, so the weak Rand should push our price up? I saw the SNH price in Frankfurt is basically the same as the price here in Zuma land
Title: Re: Steinhoff
Post by: Moonraker on December 12, 2015, 08:06:30 pm
I suppose PEP is weighing on SNH. As we all know retailers were decimated.

probably, but AFAIK SNH makes around 60% of their money in Europe, so the weak Rand should push our price up? I saw the SNH price in Frankfurt is basically the same as the price here in Zuma land
Sure, but ANY, link to ZA is being punished to a greater or lesser extent, similar to what happened to dual listed stocks in UK ...
LONDON Dec 11 (Reuters) - Britain's top equity index fell to a 10-week low on Friday as investors dumped shares in companies focussed on South Africa following a reshuffle in the country's government.
I wouldn't worry about SNH though - it will shine - patience.
Title: Re: Steinhoff
Post by: Bundu on December 12, 2015, 08:58:45 pm
fooking hope so, I've got quite a big holding :(
Title: Re: Steinhoff
Post by: Moonraker on August 10, 2016, 01:00:14 pm
You can see the effect of the stronger Rand as applied to one of my stocks. Steinhoff (SNH) has risen sharply in Frankfurt over the past month (14%), but only about 4,7% here.

Title: Re: Steinhoff
Post by: Mr_Dividend on September 08, 2016, 08:23:23 am
Anyone have any feelings on Steinhoff?

Poundland, the mattress deal - now Tekkie Town - all deals done in the last couple of months. Chuck in Pepkor and JD group - these guys are acquisition nuts.

I am considering adding it to my new LT CGT portfolio.

Unlock value in these purchases?
And are they not spreading themselves a bit thin - variety as well as geographically?

Title: Re: Steinhoff
Post by: Moonraker on September 08, 2016, 09:44:09 am
All those  acquisitions need to be 'bedded' down and that takes some time, maybe 3/5 years. EPS was down 3% but then there are 25% more shares issued, not too bad.
Debt is negligible and they are borrowing at ultra low rates as you know. Let's hope funding can continue to be accomplished internally and that there will not be a rights issue.
Average target price € 6.25.
I am sitting with it LT. (Don't like or understand the Tekkie Town acquisition).

Title: Re: Steinhoff
Post by: Bundu on September 08, 2016, 11:23:43 am
and rumours of them buying SHP? that's quite a big bite to take...... ::)
Title: Re: Steinhoff
Post by: Moonraker on September 28, 2016, 04:16:20 pm
South African discount tycoon says Steinhoff, Shoprite tie-up "natural" (http://www.sharenet.co.za/news/South_African_discount_tycoon_says_Steinhoff_Shoprite_tieup_natural/0f0a656d579d52a7ad8cef5d272583b2)

The rumour, which was around for the better part of 2 years, may actually come to fruition.
Title: Re: Steinhoff
Post by: gcr on September 28, 2016, 06:33:46 pm
Moon - you are absolutely right the tie up will undoubtedly happen. My contention still stands that Christo Wiese is trying to emulate Brain Joffe by creating an international conglomerate. The big curiosity for me is what will happen with Brait as it is heavily invested in Wiese controlled entities and he sits on the board as a non ex. There are some interesting directors at Brait - Jabu Moleketi who was Finance MEC for Joburg Metro before he saw the political light, Chris Seabrooke who was with Massmart, and Herman Troskie whose family pretty much owned most of Bloemfontein, and Leon Porter who used to COF for Nedcor Bank - so some movers and shakers in this grouping
Still undecided about Steinhoff as if acquisitions continue it is going to take years to bed down and restructure the enlarged conglomerate and my investment horizon doesn't align with how long it will take to settle the dust
Title: Re: Steinhoff
Post by: Moonraker on September 28, 2016, 06:58:04 pm
gcr, patience is a virtue few possess. We may be the oldest members of this forum but I think we will still be around in 3/5 years, by which time SNH will hopefully have more than doubled.  ;)
Title: Steinhoff share price after Shoprite
Post by: rjthomas on October 01, 2016, 12:24:39 pm
Steinhoff is a complex business I don't understand very well. I want to invest this year.

Tell me what do you believe will happen to their share price after they buy Shoprite?
Title: Re: Steinhoff
Post by: gcr on October 01, 2016, 03:19:23 pm
My opinion on the Steinhoff/Shoprite tie up will be that the directorate will have to make decisions around restructuring the enlarged entity, and you well may see a division of the entity as well. It may well be that the retail operations will constitute a division (Pep, Checkers, Shoprite Tekkie Town and others) and back end manufacturing and production in a separate pillar. So you may well see more Hyperama's through which they will sell groceries, shoes/clothing and furniture (out of their own stable) They well may try and achieve a one stop shop that can satisfy the customers total needs, they also have a tie up with a chemist chain so they can offer a wide service
I do think that when there is a tie up between Shoprite/Checkers/Pep/Steinhoff they are going to have to look at their delivery model, which could take bucket loads of cash/debt/or share auctions
Just my opinion 
Title: Re: Steinhoff merging with Shoprite
Post by: rjthomas on October 04, 2016, 03:52:48 pm
I do think that when there is a tie up between Shoprite/Checkers/Pep/Steinhoff they are going to have to look at their delivery model, which could take bucket loads of cash/debt/or share auctions
Just my opinion

Thanks for sharing your opinion. This indicates that a bigger capex will be required in the short term. Therefore that reduces the potential dividend payments. I am looking for high yield investments where dividends increase over time.
Title: Re: Steinhoff
Post by: Larry on December 05, 2016, 10:21:44 am
Could somebody please explain to me what is going on with Steinhoff the last 2 weeks ?  :wtf: ??? :'(
Title: Re: Steinhoff
Post by: Moonraker on December 07, 2016, 01:43:57 pm
Could somebody please explain to me what is going on with Steinhoff the last 2 weeks ?  :wtf: ??? :'(

Can't complain today..see the quarterly results. Last time I looked SNH was up ±8%
We may also get another dividend adjustment due to change in year end.

In terms of Steinhoff’s dividend policy, Steinhoff declares dividends annually. Due to the change in
financial year-end to 30 September and the fact that dividends were historically paid annually in
November/December, Steinhoff’s management board, with the approval of Steinhoff’s supervisory
board, declared an interim distribution of 12 euro cents per ordinary share, which was paid to
Steinhoff’s shareholders on 6 December 2016. Under Dutch law, the final dividend declared will
require the approval from shareholders at Steinhoff’s annual general meeting. To this end, Steinhoff’s
management board, with the approval of Steinhoff’s supervisory board, will propose a final dividend
of 15 euro cents per ordinary share for the 15-month period ended 30 September 2016. Taking into
account the interim distribution of 12 euro cents per ordinary share paid on 6 December 2016, the
remaining dividend will amount to 3 euro cents per ordinary share and will be payable in the form
of cash, Steinhoff ordinary shares, or a combination of both. The final Steinhoff dividend will be
approved at the annual general meeting, which will be held on 14 March 2017, and the remaining
dividend of 3 euro cents per ordinary share will only become payable if approved at the general
meeting.

Title: Re: Steinhoff
Post by: jaDEB on December 07, 2016, 02:50:04 pm
South Africa's Steinhoff to double stores in eastern Europe in 5 years

http://www.sharenet.co.za/news/South_Africas_Steinhoff_to_double_stores_in_eastern_Europe_in_5_years/019b3f00bec2bd2d0855ea0335be2602

Title: Re: Steinhoff
Post by: Nathaniel on December 08, 2016, 05:05:23 pm
If anyone put money in Steinhoff 3 days ago they would be smiling right now  :)
Title: Re: Steinhoff
Post by: Moonraker on December 14, 2016, 01:38:35 pm

SHP SNH 201612140027A
Steinhoff/Shoprite -Joint detailed cautionary announcement relating to the establishment of  African retail champion

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" or the “Company”)                               ISIN: ZAE000166997
                                                             ("Shoprite")

JOINT DETAILED CAUTIONARY ANNOUNCEMENT RELATING TO THE ESTABLISHMENT OF AN AFRICAN RETAIL CHAMPION

1.   Background
     Shareholders of Steinhoff and Shoprite are hereby advised that the largest shareholders of both
     companies, namely the Public Investment Corporation SOC Limited (“PIC”) and Titan Premier
     Investments Proprietary Limited (“Titan”) (a company ultimately controlled by a family trust of Dr.
     Christo Wiese) have initiated and facilitated discussions between the Steinhoff and Shoprite boards
     of directors regarding the potential combination of their respective African retail businesses, with the
     objective of establishing a diversified African retail business of significant scale and international
     geographical reach that could be regarded as the retail champion of Africa (“Retail Africa”)
     (“Proposed Transaction”).

     The vision to create Retail Africa, which will be a formidable entity, having its roots firmly entrenched
     in Africa, is shared by both the PIC and Titan. Accordingly, both shareholders have indicated that
     they are fully supportive of an initiative which could lead to the creation of Retail Africa.

     In terms of the Proposed Transaction, it is envisaged that Shoprite will acquire Steinhoff’s African
     retail operations, consisting of:

         -   Pepkor Africa: Pep SA, Ackermans, Speciality Group, including Shoe City, John Craig,
             Refinery and Dunns, as well as the Pep and Ackermans African operations;
         -   JD Group: Russells, Bradlows, Rochester, Incredible Connection, Hi-fi Corporation,
             Sleepmasters and financial services;
         -   Steinbuild, including Buco, Pennypinchers, Timbercity and Hardware Warehouse; and
         -   Tekkie Town (collectively known as “Steinhoff Africa Retail”).

     Shoprite will issue new ordinary shares to Steinhoff in consideration, pursuant to which Steinhoff will
     receive a significant equity interest in Shoprite. The value for Steinhoff Africa Retail will be negotiated
     taking into account the best interests of both Steinhoff and Shoprite shareholders.
     
     From Shoprite’s perspective, the Proposed Transaction is expected to position the combined
     businesses of Retail Africa as the leading multi-format discount retailer on the African continent.
     Retail Africa, locally bred, will have the required size and scale to compete with any other
     international retailer, making it a compelling value proposition for Retail Africa’s value conscious
     African customer base. As the largest retailer in Africa, Retail Africa will employ approximately
     186,000 people. It is expected that the Proposed Transaction will further enhance Retail Africa’s
     position as an employer of choice and it is also anticipated that the Proposed Transaction will not
     result in any job losses. The combined group’s growth plans could lead to future job creation in
     various countries.

     In addition to the above, Steinhoff has entered into an in principle agreement with the PIC and Titan
     to acquire their interests in Shoprite as part of the Proposed Transaction in the form of a Steinhoff
     share-for-Shoprite share exchange, subject to an exchange ratio to be agreed (“the Exchange
     Ratio”) which may ultimately result in Steinhoff acquiring control of Retail Africa. This Exchange
     Ratio will be negotiated taking into account the consideration price for Steinhoff Africa Retail on the
     basis that the Proposed Transaction will not be earnings dilutive to Steinhoff shareholders.

     In addition, Steinhoff may be required to extend a mandatory offer based on the same Exchange
     Ratio to other Shoprite shareholders to acquire their Shoprite ordinary shares (“Offer”). If this is the
     case, such Offer will be in the form of a Steinhoff share-for-Shoprite share exchange, at the
     Exchange Ratio. Shoprite shareholders will, however, at all times have the election right to retain
     their exposure to listed Retail Africa directly or be free to choose to accept the Offer, should it be
     made.

     The boards of directors of both Shoprite and Steinhoff remain fully supportive of maintaining Retail
     Africa’s separate listing on the Johannesburg Stock Exchange and are committed to the preservation
     of an appropriate free float of Retail Africa ordinary shares.

2.   Rationale
     The Proposed Transaction will result in Steinhoff’s African exposure being held through a strategic
     interest, within a separately listed entity with sufficient liquidity, which can be independently valued
     as an African retail champion. Additionally, through Retail Africa, Steinhoff’s African assets will be
     exposed to additional growth opportunities. The Proposed Transaction would allow Steinhoff, as a
     group, to strengthen its exposure and relevance to the African consumer, through the diversified
     global retail platform that would include Africa’s leading fast moving consumer goods, household
     goods and furniture retailer.

     It is expected that Retail Africa’s value proposition will provide its shareholders with a sustainable
     business where the growth and margin improvement opportunities are greater than the current
     individual businesses. The collective product ranges, expertise, infrastructure and size of Retail
     Africa will provide a unique and differentiated customer value proposition, operating in South Africa
     and in 14 African countries in which established infrastructure sharing will take place.

     These benefits would be likely to include: infrastructure and services sharing; product specialisation;
     product diversification; supply chain optimisation; customer loyalty, choice and convenience; and
     people management and benefits, such as, access to additional skills, and attracting retail talent.

     On a pro forma combined basis, Retail Africa would have had revenue and EBITDA of approximately
     ZAR200 billion and ZAR15 billion respectively, for the twelve month period ended 30 June 2016, with
     a strengthened balance sheet structure to support further organic and acquisitive growth in its
     diverse, but complementary constituent businesses.

3.   Cautionary
     The boards of directors of Shoprite and Steinhoff have agreed to enter into formal negotiations with
     regard to the Proposed Transaction which negotiations, if successfully concluded, may have a
     material effect on the price of both companies’ securities. Accordingly, shareholders of both
     Steinhoff and Shoprite are advised to exercise caution when dealing in their securities until further
     details pertaining to the Proposed Transaction are announced. Any forecast financial information
     contained in this announcement has not been reviewed or reported on by the companies’ external
     auditors.

Stellenbosch and Cape Town
14 December 2016


Title: Re: Steinhoff
Post by: gcr on December 14, 2016, 02:25:40 pm
I can't see this deal not going through if you look at the directors (cross directorships) of the entities throw on PSG and Tradehold; then at the end of the day it will merely be an incestuous marriage of convenience. The interesting thing to me will be how they land this monster and dictate office space to the sub entities. Checkers Shoprite are traditionally food supermarkets so incorporating other operations is going to be space challenging. In the Hyperrama's  no problems as they already sell furniture and white goods and electronics can easily sit under Hi Fi or Incredible Connection. Think this is going to take years to rationalise which takes considerable expenditure, consolidating, merging, up/down scaling. Can't see it having an impact on staff numbers, yet, but maybe in next 3 -5 years but they will reduce number through normal attrition
Some interesting times ahead for these brands
   
Title: Re: Steinhoff
Post by: Moonraker on December 14, 2016, 02:31:30 pm
I can't see this deal not going through if you look at the directors (cross directorships) of the entities throw on PSG and Tradehold; then at the end of the day it will merely be an incestuous marriage of convenience. The interesting thing to me will be how they land this monster and dictate office space to the sub entities. Checkers Shoprite are traditionally food supermarkets so incorporating other operations is going to be space challenging. In the Hyperrama's  no problems as they already sell furniture and white goods and electronics can easily sit under Hi Fi or Incredible Connection. Think this is going to take years to rationalise which takes considerable expenditure, consolidating, merging, up/down scaling. Can't see it having an impact on staff numbers, yet, but maybe in next 3 -5 years but they will reduce number through normal attrition
Some interesting times ahead for these brands
   
I don't really like, nor understand the rationale for this. Agree with what you wrote. Market is not impressed ..

Title: Re: Steinhoff
Post by: Moonraker on December 14, 2016, 02:59:04 pm
Some more info .. (who knows, maybe not so 'bad' afterall?)

Shoprite and the African operations of Steinhoff are to be merged into a new group called Retail Africa, major shareholders of both retailers Christo Wiese and the Public Investment Corporation (PIC) announced on Wednesday.

The deal will result in Shoprite acquiring Steinhoff’s clothing chains which include Pep, Ackermans, Shoe City and Tekkie Town in exchange for shares.

Shoprite will also buy the furniture and appliance retailers that Steinhoff owns via JD Group. These include Russells, Bradlows, Rochester, Incredible Connection, Hi-fi Corporation and Sleepmasters.

Furthermore, Shoprite will acquire Steinhoff’s hardware chains Buco, Pennypinchers, Timbercity and Hardware Warehouse.

Retail Africa would be the continent’s largest retailer with an annual turnover of R200bn, employing 186,000 people, it was noted in Wednesday’s statement said.

Steinhoff proposes to acquire Wiese’s Shoprite shares, held in a company called Titan, and those of the PIC in exchange for Steinhoff shares at a ratio still to be agreed.

The deal is likely to trigger a mandatory offer to Shoprite shareholders who will be offered Steinhoff shares at the same ratio as Wiese and the PIC will receive.

The share price of the target company, Shoprite, jumped 3.2% to R199 while Steinhoff’s fell 5.5% to R71.83 after the announcement.

" It is expected that the proposed transaction will further enhance Retail Africa’s position as an employer of choice and it is also anticipated that the proposed transaction will not result in any job losses. The combined group’s growth plans could lead to future job creation in various countries," the statement read.
Title: Re: Steinhoff
Post by: Bundu on December 14, 2016, 03:38:37 pm
Some more info .. (who knows, maybe not so 'bad' afterall?)

Shoprite and the African operations of Steinhoff are to be merged into a new group called Retail Africa, major shareholders of both retailers Christo Wiese and the Public Investment Corporation (PIC) announced on Wednesday.

The deal will result in Shoprite acquiring Steinhoff’s clothing chains which include Pep, Ackermans, Shoe City and Tekkie Town in exchange for shares.

Shoprite will also buy the furniture and appliance retailers that Steinhoff owns via JD Group. These include Russells, Bradlows, Rochester, Incredible Connection, Hi-fi Corporation and Sleepmasters.

Furthermore, Shoprite will acquire Steinhoff’s hardware chains Buco, Pennypinchers, Timbercity and Hardware Warehouse.

Retail Africa would be the continent’s largest retailer with an annual turnover of R200bn, employing 186,000 people, it was noted in Wednesday’s statement said.

Steinhoff proposes to acquire Wiese’s Shoprite shares, held in a company called Titan, and those of the PIC in exchange for Steinhoff shares at a ratio still to be agreed.

The deal is likely to trigger a mandatory offer to Shoprite shareholders who will be offered Steinhoff shares at the same ratio as Wiese and the PIC will receive.

The share price of the target company, Shoprite, jumped 3.2% to R199 while Steinhoff’s fell 5.5% to R71.83 after the announcement.

" It is expected that the proposed transaction will further enhance Retail Africa’s position as an employer of choice and it is also anticipated that the proposed transaction will not result in any job losses. The combined group’s growth plans could lead to future job creation in various countries," the statement read.

I see SHP is now also seriously down
Title: Re: Steinhoff
Post by: gcr on December 14, 2016, 04:05:46 pm
I am sure Whitey Basson was asked to stay on for this merger,but, probably looked at the size of the merger and said that he would be tied up for the next 5 years bedding entities down. Don't blame him going on retirement. I worked with the project teams on 3 mergers when I was in banking and it is a frustratingly slow process because of the implications of decision making on the organisation
Title: Re: Steinhoff
Post by: Moonraker on December 31, 2016, 05:25:53 pm
Should I sell SHP ? I am tempted.
Title: Re: Steinhoff
Post by: Moonraker on January 31, 2017, 02:06:09 pm
Reason for the decline past two days in case anyone interested...

Shares of Tempur Sealy Crash After It Ends Contracts With Biggest Customer (http://fortune.com/2017/01/30/tempur-sealy-mattress-firm-contracts-shares-crash/)

Tpx shares were down 28% close of business 30-01-2017

SNH will not be affected much, if at all in my opinion but 3 years plus patience needed if holding them.
Title: Re: Steinhoff
Post by: Bundu on January 31, 2017, 02:15:09 pm
Reason for the decline past two days in case anyone interested...

Shares of Tempur Sealy Crash After It Ends Contracts With Biggest Customer (http://fortune.com/2017/01/30/tempur-sealy-mattress-firm-contracts-shares-crash/)

Tpx shares were down 28% close of business 30-01-2017

SNH will not be affected much, if at all in my opinion but 3 years plus patience needed if holding them.

yes, I find the negative impact on the SNH share odd - they are simply busy negotiating their costs down as far as I can see, which should be good for the share
Title: Re: Steinhoff
Post by: Moonraker on February 20, 2017, 10:52:53 am
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

Title: Re: Steinhoff
Post by: rjthomas on February 25, 2017, 01:28:14 am
I suspect Shoprite will continue to grow and produce spectacular results. There's an upside to this. Maybe they can buy or merge with one of the other supermarkets.
Title: Re: Steinhoff
Post by: PlatinumWealth.co.za on February 25, 2017, 11:17:01 am
I suspect Shoprite will continue to grow and produce spectacular results. There's an upside to this. Maybe they can buy or merge with one of the other supermarkets.

I love shoprite, been a happy shareholder since day 1, only regret is that I wish I owned them sooner.
Title: Re: Steinhoff
Post by: Moonraker on March 06, 2017, 05:12:42 pm
Goldman Sachs reduces SNH target from €5.80 to €5.00 and from 'Buy' to 'Neutral' citing uncertainty regarding Mattress Firm.

(Why did I buy this crap?)  ;)
Title: Re: Steinhoff
Post by: Moonraker on March 07, 2017, 06:22:01 pm

STEINHOFF INTERNATIONAL HOLDINGS N.V.: ANNOUNCEMENT OF THE ZAR EXCHANGE RATE
APPLICABLE TO THE PROPOSED FINAL DIVIDEND OF 3 EURO CENTS PER ORDINARY SHARE


              <<<<<<<<<<<<<<<SNIP>>>>>>>>>>>>>>>>>>>>



 SALIENT DATES AND TIMES FOR SHARES TRADED ON THE JSE                                  2017


 Last day to trade in shares on the JSE in order to be eligible
                                                                         Tuesday, 14 March
 for the distribution


 Shares trade ex-entitlement on the JSE                                  Wednesday, 15 March


 Record Date                                                              Friday, 17 March


 Payment date                                                             Monday, 20 March

Note:
As a result of different settlement periods applied by the FSE (T+2) and JSE (T+3), the Last day to Trade in each jurisdiction falls
on different dates, but the Record Date is aligned. Between 13 March 2017 and the Payment Date (20 March 2017) there will be
an embargo on transfers between the two settlement systems, being Clearstream for the FSE and Strate for the JSE.

Dividends Withholding Tax (“DWT”)

The distribution will be payable in Euro. As the Company is a South African Tax Resident, the
Dividend will be subject to a South African dividends withholding tax at a dividend tax rate of
20%, resulting in a net cash Dividend of 2.4 Euro cents per share for shares held on the FSE and
32.976 ZAR cents per share for shares held on the JSE, unless the relevant shareholder is exempt
from South African dividend tax or is entitled to a reduced rate in terms of the applicable
double tax agreement. The Company’s South African income tax reference number is
9088/208/229. At the date of declaration of the Dividend the company had 4,296,551,251
ordinary shares in issue.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

(Maybe as a rule of thumb, stay away from anything Christo Wiese like Brait, Steinhoff and some others).  :-X SNH dropping like a STONE
Title: Re: Steinhoff
Post by: gcr on March 07, 2017, 10:33:31 pm
Christo Wiese and the Moutons are considered the Stellenbosch mafia and at times behave like that. All these deals that they have tried to put together are in my opinion ego trips.
There are too many mergers and acquisitions in play or have been in play over the last 10 to 15 years and somewhere there needs to be some semblance of rationalization, but the people in charge seem hell bent on putting together deals which in the long run could fail.
I am not predicting anything but I am concerned that something is going to come unstuck within this framework of deals and also the driving force behind Checkers has retired so management behavior is going to change as the new guy will want to stamp his legacy.
I used to have holdings across PSG, Zeder, Curro, Checkers, Steinhoff but sold out because of the over ambitious direction the groupings were going and switched to Bidvest as they seem to have a handle on running conglomerates and just quietly manage their diverse holdings - can't see any ego's being stroked here
Just my opinion
Title: Re: Steinhoff
Post by: Moonraker on March 08, 2017, 09:44:33 am
Megalomania me thinks.
Title: Re: Steinhoff
Post by: Moonraker on March 14, 2017, 10:21:13 am
Reason for yesterday's 3,8%+ rise ..

Quote
HOUSTON and ATLANTA, March 13, 2017 /PRNewswire/ -- Mattress Firm, Inc., the nation's largest specialty bedding retailer, and Serta Simmons Bedding, LLC ("SSB"), the largest bedding manufacturer in the United States, today jointly announced that the companies have entered into an initial five-year strategic partnership agreement.

Mattress Firm And Serta Simmons Bedding Expand Strategic Partnership (http://www.prnewswire.com/news-releases/mattress-firm-and-serta-simmons-bedding-expand-strategic-partnership-300422381.html)

Title: Re: Steinhoff
Post by: Moonraker on May 17, 2017, 05:06:07 pm
Steinhoff International Holdings N.v. - The Potential Listing Of Steinhoffs African Retail Assets On The Jse Limited And Cautionary Announcement

Release Date: 17/05/2017 17:00:00      Code(s): SNH     Email this JSE Sens Item to a Friend   Printer Friendly Version
The Potential Listing Of Steinhoff’s African Retail Assets On The JSE Limited And Cautionary Announcement

Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019
("Steinhoff" or the “Company”)

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR
RELEASE WOULD BE UNLAWFUL.

THE POTENTIAL LISTING OF STEINHOFF’S AFRICAN RETAIL ASSETS ON THE JSE LIMITED AND
CAUTIONARY ANNOUNCEMENT

1.   Introduction

     Shareholders of Steinhoff are hereby advised that the Company is evaluating and initiating
     steps to establish the separate listing of its African retail businesses on the main board of the
     JSE Limited (“JSE”) (the “Listing”).

     Prior to the Listing, Steinhoff will consolidate its African retail businesses, with assets including
     Pepkor South Africa and rest of Africa, JD Group, Unitrans Automotive, Steinbuild, Poco South
     Africa and Tekkie Town (collectively, “Steinhoff Africa Retail Assets”), under a single holding
     company (“ListCo”).

     The Steinhoff Africa Retail Assets are comprised of highly recognisable retail brands that have
     an extensive retail footprint and impressive growth track-record, both in South Africa and the
     rest of Africa.


2.   Rationale

     Steinhoff will continue to own a controlling interest in ListCo and it is the vision of Steinhoff to
     create a diversified multi-format listed retail company of significant size and scale with its roots
     in Africa.

     The Listing will result in Steinhoff’s African retail exposure being held through a separately listed
     entity which can be independently valued as an emerging market, African-focused retail
     company. The establishment of a listed reference price for the Steinhoff Africa Retail Assets
     will avoid these assets being undervalued.
     A separation of Steinhoff’s emerging market retail business and developed market retail
     business will be a natural progression for the respective businesses given the divergent
     strategic focus in each market.

3.   Timing

     ListCo has appointed Citigroup Global Markets Limited, Investec Bank Limited, Morgan
     Stanley & Co International Plc and Rand Merchant Bank (a division of FirstRand Bank Limited)
     to advise on the proposed Listing.

     Any decision to proceed with the Listing will be subject to a number of factors, including, inter
     alia, market conditions and regulatory approvals. It is contemplated that the Listing will be
     completed in the third quarter of 2017.

     The Listing will include a capital raise to achieve the required public shareholder spread, with
     Steinhoff retaining control in ListCo.


4.   Cautionary Announcement

     The Listing may have a material effect on the price of the securities of Steinhoff. Accordingly,
     shareholders are required to exercise caution when dealing in the Company’s shares until a
     further announcement is made.

Stellenbosch

17 May 2017
Title: Re: Steinhoff
Post by: Moonraker on May 26, 2017, 09:45:43 am
Sherwood Bedding Co. Announces Strategic Investment by the Steinhoff International Holdings N.V. Group (http://bedtimesmagazine.com/2017/05/steinhoff-takes-majority-share-sherwood-bedding/)

Quote
Steinhoff had confirmed that they bought US bedding manufacturer, Sherwood Bedding, which according to the company is the 5th largest bedding manufacturer in the US. The move is part of their vertical integration plans in the US. Steinhoff’s share price has been coming up nicely since they disclosed that they are looking to list their African retails assets in a separate entity. The company is due to release their earnings on the 7th of June, any share pullback will be a good buying opportunity.
Title: Re: Steinhoff
Post by: Bundu on May 26, 2017, 11:07:03 am
Sherwood Bedding Co. Announces Strategic Investment by the Steinhoff International Holdings N.V. Group (http://bedtimesmagazine.com/2017/05/steinhoff-takes-majority-share-sherwood-bedding/)

Steinhoff had confirmed that they bought US bedding manufacturer, Sherwood Bedding, which according to the company is the 5th largest bedding manufacturer in the US. The move is part of their vertical integration plans in the US. Steinhoff’s share price has been coming up nicely since they disclosed that they are looking to list their African retails assets in a separate entity. The company is due to release their earnings on the 7th of June, any share pullback will be a good buying opportunity.

let's hope the share picks up again now - it's down by about 25% from its highs  8)
Title: Re: Steinhoff
Post by: Moonraker on May 26, 2017, 11:59:51 am
I put the blurb in my post #68 in quotes because those are not my words and I am pretty sceptical. In favour is of course the relatively low P/E.
Title: Re: Steinhoff
Post by: Moonraker on August 03, 2017, 10:15:15 am
Goldman downgrades SNH from Neutral to Sell with target price reduced from €4.90 to €3.80
I could kick myself.

Title: Re: Steinhoff
Post by: Bundu on August 03, 2017, 02:07:43 pm
Goldman downgrades SNH from Neutral to Sell with target price reduced from €4.90 to €3.80
I could kick myself.

I hope they're wrong  :'(
Title: Re: Steinhoff
Post by: Moonraker on August 04, 2017, 05:21:00 pm
SNH 201708040050A
Update On The Proposed Listing Of Steinhoff’s African Retail Assets And Options To Acquire Interests In Shoprite

Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019
("Steinhoff" or the “Company”)

NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY,
IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN
WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL.


STEINHOFF INTERNATIONAL HOLDINGS N.V. ("Steinhoff" or the “Company”) - UPDATE ON THE
PROPOSED LISTING OF STEINHOFF’S AFRICAN RETAIL ASSETS ON THE JSE LIMITED AND OPTIONS TO
ACQUIRE INTERESTS IN SHOPRITE HOLDINGS LIMITED



1.    Introduction
      Stellenbosch, 4 August 2017 – Shareholders of Steinhoff are referred to the announcement
      released on 17 May 2017 (“the Initial Announcement”), in which the Company announced
      that it had initiated steps to list its African retail businesses on the main board of the JSE Limited
      (the “JSE”) (the “Listing”). This announcement serves as an update on the progress of the
      Listing and other related matters.


2.    The Listing of Steinhoff Africa Retail Limited

     The listing process is progressing well and it is anticipated that it will complete by the end of
     September, subject to market conditions. A single holding company, Steinhoff Africa Retail
     Limited (“STAR”), has been established and, with effect from 1 July 2017, owns the African retail
     assets to be listed.

     The African retail brands included in the Listing will comprise Pep in South Africa and the rest
     of Africa, Ackermans, Speciality division (comprising Dunns, John Craig, Refinery and Shoe
     City), JD Group (comprising Russells, Bradlows, Rochester, Sleepmasters, Incredible
     Connection and Hi-Fi Corporation), Steinbuild (comprising Buco, Timbercity, Hardware
     Warehouse and The Tile House), Poco South Africa and Tekkie Town (the “African Assets”).
     These retail brands are highly recognisable, benefit from one of the biggest retail store
     footprints on the African continent and have an impressive growth track-record, both in South
     Africa and the rest of Africa. After careful consideration, the board of Steinhoff has decided
     to exclude the Unitrans Automotive business from the Listing due to its different characteristics
     and growth drivers. The Unitrans Automotive business will be retained by Steinhoff.

     STAR will remain a subsidiary of Steinhoff, one of the largest global discount retailers, and
     hence STAR will continue to benefit from the group sourcing, scale advantages, shared best
     practices and strategic direction, allowing STAR to effectively compete with both domestic
     and international retailers in Africa.

     The Listing will be accompanied by a capital raising in order to establish the public
     shareholding spread and liquidity required by the JSE. The net proceeds of the capital raise
     will be distributed to Steinhoff.

     Given the size and scale of the African Assets, and STAR’s anticipated market capitalisation,
     STAR is likely to be included in the JSE Top 40 Index and other relevant emerging market
     indices, such as the MSCI Emerging Market Index.



3.   STAR Management

     Each of STAR’s businesses will continue to be managed on a decentralised basis, under the
     leadership of their existing experienced and proven management teams.

     Similarly Steinhoff’s management board (consisting of Markus Jooste Chief Executive Officer
     (“CEO”), Danie van der Merwe Chief Operating Officer (“COO”)) and Ben la Grange Chief
     Financial Officer (“CFO”)) manages the decentralized global business in geographical
     clusters with Ben having been intimately involved in the African region and served on all
     divisional boards of STAR.

     Accordingly, given his extensive involvement in STAR, Ben la Grange will be appointed as CEO
     of STAR. He will also retain his role as CFO of Steinhoff, but will delegate several of his current
     responsibilities in Steinhoff within the wider Steinhoff group. Riaan Hanekom, the Pepkor CFO,
     will be appointed as CFO of STAR. The experienced executive committee and non-executive
     board members will be led by Jayendra Naidoo as Chairman. Further details will be
     contained in the pre-listing statement of STAR (“PLS”). Pieter Erasmus (current CEO of the
     Pepkor Group) will join Steinhoff International NV to strengthen the global retail management
     team and will continue to support the STAR board and management team in this capacity.

     The executive committee will consist of the following additional members: Leon Lourens (COO
     Retail Operations), Jaap Hamman (Pep South Africa divisional CEO), Charles Cronje
     (Ackermans CEO), Garth Napier (Pep Africa divisional CEO), Peter Griffiths (JD Group CEO),
     Eugene Beneke (Steinbuild CEO), Bernard Mostert (Speciality CEO) and Braam van Huyssteen
     (Property Committee Chairperson).



4.   STAR Vision


     STAR will continue to focus on being the preferred and most convenient destination for the
     African consumer, by providing everyday essential products at affordable prices.


     In furthering this vision, STAR management, supported by Steinhoff, remain of the opinion that
     a strategic investment in a leading African food and grocery retailer should support its ability
     to further enhance its relevance to the growing African consumer base, and better protect
     its ability to compete against international retailers. In this regard, Steinhoff and STAR have
     secured options which, if exercised will result in STAR acquiring a strategic investment in
     Shoprite Holdings Limited (“Shoprite”), one of Africa’s leading food and grocery retailers with
     a track record of successful growth and expansion in South Africa and across the continent.


5.   The Shoprite Call Options

     Steinhoff and STAR have entered into call option agreements with the Public Investment
     Corporation SOC Limited (the “PIC”), Lancaster Group Proprietary Limited (“Lancaster”), Titan
     Premier Investments Proprietary Limited (“Titan”) (a company ultimately controlled by a family
     trust of Dr. Christo Wiese, the Chairman of Steinhoff) and one of its subsidiaries in terms of
     which STAR could acquire economic and voting interests in Thibault Square Financial Services
     (Pty) Ltd (“Thibault”) and Shoprite (the “Call Options”). After implementation of the Call
     Options, STAR will hold approximately 22.7% of the economic interest and 50% of the voting
     rights in Shoprite.

     STAR will, subject to the terms and conditions of the Call Options, exercise the Call Options
     following the implementation of the Listing. It should be noted that Steinhoff will continue with
     the Listing regardless of whether the Call Options are implemented, and Shoprite will in any
     event continue to maintain its separate listing on the JSE after the implementation of the Call
     Options.

     The consideration payable for the exercise of the Call Options has been determined based
     on, inter alia, a share price of R215 per share for the approximately 128.2 million underlying
     Shoprite ordinary shares, an amount of R4.0 billion attributable to the deferred voting shares
     and an additional c. R4.0 billion for cash and cash equivalents held by Thibault. STAR will settle
     the consideration payable by the issuance of a fixed number of ordinary shares in STAR
     (representing a c.33.6% interest in the ordinary share capital of STAR after implementation of
      the Listing and the Call Options). The implementation of the Call Options remains subject to
     certain conditions precedent including regulatory approvals such as Competition Authorities’
     approval.

       The exercise and implementation of the Call Options will not require STAR to extend a
       mandatory offer to the remaining Shoprite shareholders in terms of the South African
       Companies Act, No 71 of 2008 (“Act”)and the Takeover Regulations as defined in the Act.

       Full details of the Call Options will be included in the PLS.



5.1.    Management commentary on the strategic investment

        Pieter Engelbrecht, the Shoprite CEO, commented: “Shoprite management and all of its
        shareholders have, since its listing, been accustomed to a supportive controlling shareholder
        structure. We are excited that this structure and support will in future rest within another
        successful African based retailer that shares our passion and growth objectives. While there
        is significant potential for the underlying operating assets to work closely together, Shoprite’s
        management and operations will continue to operate independently to drive its own
        focused strategic vision to create value for all shareholders.”

        Ben La Grange, the CEO of STAR, commented:” My management team and I are excited
        about the opportunities and focus that the new structure and independent JSE listing will
        provide to the STAR group. Furthermore, the proposed investment in Shoprite will strengthen
        STAR’s ability to offer a unique value proposition to all of its stakeholders. The group’s
        diversified African multi-format discount retail brands will operate across various stable and
        growing sectors that are highly cash generative, including fast moving consumer goods and
        now food. Both Shoprite and STAR will have a credible shareholder of reference that will
        support the STAR group’s growth ambitions. There is significant potential for the underlying
        operating assets to work closely together both in current operations and in expanding into
        new regions.”

6.     Renewal of Cautionary Announcement

       Shareholders are advised to continue to exercise caution when dealing in the Company’s
       shares until a further announcement is made.

Stellenbosch

4 August 2017

Transaction and Corporate sponsor to Steinhoff and STAR
PSG Capital (Pty) Ltd

Legal Advisers to Steinhoff
Cliffe Dekker Hofmeyr Incorporated
Linklaters LLP
Girard Hayward Inc

Important Notice

The information contained in this announcement is restricted and not for release, publication or
distribution, directly or indirectly, in whole or in part in, into or from the United States of America
(including its territories and possessions, any state of the United States of America and the District
of Columbia, collectively the “United States”), Australia, Canada, Japan or any other jurisdiction
in respect of which the release, publication or distribution, directly or indirectly, of this
announcement would constitute a violation of the relevant laws of such jurisdiction.
The securities mentioned herein have not been and will not be registered under the United States
Securities Act of 1933 (the “Securities Act”) or the securities laws of any other jurisdiction, and may
not be offered, sold or transferred, directly or indirectly, in the United States absent registration
under the Securities Act or an available exemption from, or except in a transaction not subject to,
the registration requirements of the Securities Act and the securities laws of any other jurisdiction.
There will be no public offering of securities in the United States, Canada, Australia and Japan.
In South Africa, the offer of shares in STAR as part of the capital raising will be effected by way of
a private placement and as such will not constitute an “offer to the public” as defined in the
Companies Act. Investors will accordingly only be permitted to apply for shares if the applicant is
a person who or which falls within one of the specified categories of persons listed in section
96(1)(a) of the Companies Act or, in accordance with s96(1)(b) of the Companies Act, if the
application is for a minimum total acquisition cost, per single addressee acting as principal, of
greater than or equal to ZAR1 000 000.
Certain forward-looking statements

This announcement contains certain forward-looking statements with respect to certain of the
Company’s, STAR’s and Shoprite’s current expectations and projections about future events.
These statements, which sometimes use words such as “will”, “aim”, “anticipate”, “believe”,
“envisage”. “intend”, “plan”, “estimate”, “expect” or, in each case, their negative and words of
similar meaning, reflect the directors’ beliefs and expectations and involve a number of risks,
uncertainties and assumptions that could cause actual results and performance to differ
materially from any expected future results or performance express or implied by the forward-
looking statement. Forward-looking statements speak only as of the date they are made.
Statements contained in this announcement regarding past trends or activities should not be
taken as a representation that such trends or activities will continue in the future. The information
contained in this announcement is subject to change without notice and, except as required by
applicable law, neither the Company, STAR nor Shoprite assume any responsibility or obligation to
update publicly or review any of the forward-looking statements contained herein.
Title: Re: Steinhoff
Post by: Bundu on August 04, 2017, 07:46:56 pm
market seemed to like it

I wonder how the listing of STAR will work?
Will existing SNH holders get shares? or options?
Title: Re: Steinhoff
Post by: Moonraker on August 05, 2017, 12:16:42 pm
Not sure, Bundu, but it doesn't look like we will get STAR shares. STAR will remain a subsidiary of SNH which it already is. Shoprite will retain its listing.

     
Quote
STAR will remain a subsidiary of Steinhoff, one of the largest global discount retailers, and
     hence STAR will continue to benefit from the group sourcing, scale advantages, shared best
     practices and strategic direction, allowing STAR to effectively compete with both domestic
     and international retailers in Africa

Quote
STAR is expected to list by the end of September, subject to market conditions. It will list by way of a capital raising in order to establish the public shareholding spread and liquidity required by the JSE. The proceeds will be distributed to Steinhoff.

Quote
The exercise and implementation of the call options will not require STAR to extend a mandatory offer to the remaining Shoprite shareholders

Anybody else have comments on this?
Title: Re: Steinhoff
Post by: Bundu on August 24, 2017, 10:19:27 am
WTF SNH?
Title: Re: Steinhoff
Post by: Moonraker 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.
Title: Re: Steinhoff
Post by: Bundu on August 24, 2017, 10:32:26 am
 :'( :'( :'( :'(
Title: Re: Steinhoff
Post by: Moonraker 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
Title: Re: Steinhoff
Post by: Bundu on August 24, 2017, 04:42:26 pm
SENS doesn't look too bad?
Title: Re: Steinhoff
Post by: Moonraker on August 24, 2017, 05:13:25 pm
Currently down ± 9½% in Frankfurt, from ±14% earlier.
But I must say I have lost faith.
Quote
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.
Title: Re: Steinhoff
Post by: gcr on August 24, 2017, 06:56:26 pm
They don't called Weise and his colleagues - the Stellenbosch mafia for nothing >:D
Title: Re: Steinhoff
Post by: Larry on November 02, 2017, 09:35:55 am
Any Idea whats happening with SNH the last 2 days ?  :wtf: :wall: :laugh:
Title: Re: Steinhoff
Post by: Moneypenny 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.
Title: Re: Steinhoff
Post by: Larry on November 02, 2017, 11:33:21 am
 :wall: :-[ ::)

Thanks
Title: Re: Steinhoff
Post by: Moneypenny 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.    :)
Title: Re: Steinhoff
Post by: Bundu on November 02, 2017, 04:42:35 pm
I see one of the directors of SNH just bought R4m worth of shares
Title: Re: Steinhoff
Post by: Moneypenny on November 02, 2017, 05:27:22 pm
Jip, nice reversed pump and dump (dump & pump) they did there.  +0.58%
Title: Re: Steinhoff
Post by: Bundu 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"
Title: Re: Steinhoff
Post by: Moonraker 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
Title: Re: Steinhoff
Post by: Bundu on November 06, 2017, 07:12:10 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

thanks Moonraker!  :TU:

I was hoping it was something like that - about time that SNH picks up again - it's quite a large % of my portfolio and has been pulling me down for a while now  :'(
Title: Re: Steinhoff
Post by: Moneypenny on November 07, 2017, 08:13:02 am
Just take note, he bought futures not stock. 

In noob language, he's trading not investing.

In plain language, he expects a spike up (he went long) - but he will dump them very quickly when whatever he knows/expects becomes public.

Quick in and out, not long term.

Because he chooses futures, I'm pretty convinced he is very sure of his move.
Title: Re: Steinhoff
Post by: gcr on November 07, 2017, 09:53:20 am
Just take note, he bought futures not stock. 

In noob language, he's trading not investing.

In plain language, he expects a spike up (he went long) - but he will dump them very quickly when whatever he knows/expects becomes public.

Quick in and out, not long term.

Because he chooses futures, I'm pretty convinced he is very sure of his move.
I see signals of insider trading - its about time the authorities responsible stopped directors trading in their shares as opposed to investing. Years back Acc Ross and Venter Trailers directors did a lot of this type of manoeuvring
Title: Re: Steinhoff
Post by: Moonraker on November 07, 2017, 01:01:32 pm
Let's see if he takes a short position before expiry. Or maybe he will take delivery?
Title: Re: Steinhoff
Post by: Moonraker on November 08, 2017, 01:36:42 pm
JOHANNESBURG (Reuters) - Steinhoff International's Johannesburg-listed shares fell to a 10-week low after Reuters reported the company did not tell investors about almost $1 billion in transactions with a related company despite laws that some experts believe require it to do so.
Shares in the furniture retailer dropped to 56 rand in early trading, but recovered to 59.46 rand by 1113 GMT, around 3.9 percent weaker than its closing price on Tuesday.
(Reporting by TJ Strydom; editing by Jason Neely)
2017-11-08 13:23:00

Title: Re: Steinhoff
Post by: Moneypenny on November 08, 2017, 04:22:11 pm
Ouch, feel sorry for those who followed him, I'm sure stop losses were triggered left, right and center.
Title: Re: Steinhoff
Post by: Moonraker on November 08, 2017, 04:25:11 pm
A SENS at last ..

Quote
Release Date: 08/11/2017 16:15:00      Code(s): SNH     Email this JSE Sens Item to a Friend   Printer Friendly Version
Steinhoff´S GT Branding Holding Investor Information Correct And In Line With IFRS Requirements

Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019

Steinhoff´s GT Branding Holding Investor Information correct and in line with IFRS Requirements

Stellenbosch, November 8, 2017 – In response to a Reuters release from today, November 8, 2017,
STEINHOFF INTERNATIONAL HOLDINGS N.V. ("Steinhoff" or the “Company”) clarifies again that
Steinhoff´s reporting and investor information regarding all transactions between Steinhoff and GT
Global Branding are in line with all IFRS (International Reporting Standard) requirements including
internal accounting rules and the Prospectus Directive.

Markus Jooste, CEO of Steinhoff International: “All reporting requirements have been met. This has
been confirmed by our internal legal team and external experts.”

Steinhoff co-invested as a minority shareholder in GT Branding Holding in 2015 to enable the company
to continue to invest, develop and strengthen the manufacturing furniture brands on a world-wide
basis. This decision further based on the economic return to be derived from this investment (in
establishing and owning relevant brands worthy of earning royalties from a host of customers in
future).

In the Steinhoff annual accounts from September 30, 2016, GT Branding Holding forms part of
Steinhoff´s associate investments. The equity in the company (together with the preference share
amounting to Euro 384 mio) is shown in investment in and loans to associated companies. The funding
supplied to GT Branding Holding is shown under short term loans and amounted to
Euro 339 mio. Loans bear interest at market related interest rates. In terms of IAS 24 the net amount
for the 2016 September financial year amounted to zero and therefore no disclosure was made as the
related party transaction was zero.

JSE Sponsor
PSG Capital
Title: Re: Steinhoff
Post by: Bundu on November 08, 2017, 05:38:53 pm
doesn't look like the market has much confidence in the SNH SENS  :'(
Title: Re: Steinhoff
Post by: Moonraker on November 08, 2017, 06:45:58 pm
Steinhoff failed to tell investors of nearly $1bn worth of transactions (https://www.businesslive.co.za/bd/companies/retail-and-consumer/2017-11-08-steinhoff-failed-to-tell-investors-of-nearly-1bn-worth-of-transactions/)



Title: Re: Steinhoff
Post by: Bundu on November 15, 2017, 12:53:44 pm
Just take note, he bought futures not stock. 

In noob language, he's trading not investing.

In plain language, he expects a spike up (he went long) - but he will dump them very quickly when whatever he knows/expects becomes public.

Quick in and out, not long term.

Because he chooses futures, I'm pretty convinced he is very sure of his move.

SNH is now down by around 15% from where Wiese put in his long futures..... this must be costing him money?
Title: Re: Steinhoff
Post by: Moonraker on November 15, 2017, 01:18:08 pm
Currently @ € 3.05 (2,28% down in Frankfurt as of now) - so over 50% down in € since listing.
Title: Re: Steinhoff
Post by: Moonraker on November 20, 2017, 05:19:15 pm
Quote
The Board of Steinhoff today received a letter from the Chamber informing Steinhoff that it is not
in a position as yet to formally issue its decision and that it is currently anticipated that a formal
decision will be issued by no later than the 22nd of December 2018. The Company was advised by
its Dutch counsel that such a delay is quite common and it does not signify any particular outcome
whatsoever. Furthermore, the Chamber will be in its rights (and again it is quite common) should
they elect to further delay the decision.

The Company remains confident that the petition will be dismissed.
Title: Re: Steinhoff
Post by: Bundu on November 20, 2017, 05:36:55 pm
let's hope that turns into a xmas present for share holders - really not been a great SNH year for me  :'(
Title: Re: Steinhoff
Post by: Moonraker on December 04, 2017, 03:11:53 pm
More uncertainties re. the possibility of balance sheet fraud. This together with the silly Mattress Firm acquisition means OMG - needs to be dumped. Only reason I still hold is because of tax - the 3 year rule.

 
Title: Re: Steinhoff
Post by: Bundu on December 04, 2017, 03:19:05 pm
I've had less painful root-canals  :'(

Wiese can't be too happy with his tjommie  O:-)
Title: Re: Steinhoff
Post by: Moonraker on December 04, 2017, 04:10:43 pm
Sanlam Private Wealth Stock Picks for 2018 (http://1of1privatecollection.co.za/investments/spw-teams-top-stock-picks-for-2018/)

Bundu, SNH is there. Why is anybody's guess.
Title: Re: Steinhoff
Post by: Bundu on December 04, 2017, 05:05:03 pm
Sanlam Private Wealth Stock Picks for 2018 (http://1of1privatecollection.co.za/investments/spw-teams-top-stock-picks-for-2018/)

Bundu, SNH is there. Why is anybody's guess.

thanks for the info - maybe I should just buy some more? but I'm pretty deep in already  :(
Title: Re: Steinhoff
Post by: Maurice on December 06, 2017, 07:39:25 am
This is bad news for SNH shareholders https://www.businesslive.co.za/bd/companies/retail-and-consumer/2017-12-06-markus-jooste-quits-as-steinhoff-ceo/

"Steinhoff International CEO Marcus Jooste resigned on Tuesday night, ahead of the furniture retailer’s results scheduled for release on Wednesday.

The group’s chairman, retail tycoon Christo Wiese, alongside former Pepkor CEO Pieter Erasmus, will run Steinhoff until a new CEO is appointed, a statement issued at 10.45pm on Tuesday night said.

“The supervisory board of Steinhoff wishes to advise shareholders that new information has come to light today which relates to accounting irregularities requiring further investigation,” the statement said.

“The supervisory board, in consultation with the statutory auditors of the company, has approached PwC to perform an independent investigation.”

Jooste had tendered his resignation with immediate effect, and the board had accepted it, Tuesday night’s statement said."

Or maybe good news shareholders in for one hell of a ride.
Title: Re: Steinhoff
Post by: Moonraker on December 06, 2017, 02:26:27 pm
From Reuters..

TAX RATE QUESTIONS

Analysts have long questioned how Steinhoff managed to achieve such a low tax rate. Its tax rate has averaged 12 percent over the past five years -- half the headline corporate tax rate in its main markets and less than half the rates paid by listed competitors including France's Casino, Germany's Metro AG and South Africa's Woolworths.

Experts say such low tax rates can be the result of complex corporate structures which stretch accounting rules and such arrangements are occasionally challenged by courts as unlawful.

"The company recorded a very unusual tax rate of c. 15 percent and also guided that this would be the rate going forward," Juergen Kolb, an analyst at Kepler Cheuvreux, said in a note, adding that if this tax rate was at risk it could also hit Steinhoff's cashflow.

Kolb also raised the possibility that as chairman, Wiese's role could now come under scrutiny too.

Steinhoff did not respond to requests for information about what, if anything, Wiese knew about the accounting problems now being investigated before Tuesday.

Investors also told Reuters they are concerned Wiese may be forced to sell shares he bought last year with borrowed money.

Wiese borrowed 1.6 billion euros ($1.9 billion) to buy additional Steinhoff shares through a family trust in September 2016, pledging 3.2 billion euros of his existing holding as security to the investment banks that lent the money.

With the share price plunge taking the security below the value of the loan, Wiese may be required by the financing banks -- Citi, Goldman, HSBC and Nomura -- to post more shares as collateral, or sell part of his holding. ($1 = 0.8459 euros)


(Reporting by TJ Strydom; additional reporting by Tanisha Heiberg, Tom Bergin and Alasdair Pal; writing by Alexander Smith; editing by Tom Pfeiffer and Keith Weir)
Title: Re: Steinhoff
Post by: Moneypenny on December 06, 2017, 05:33:29 pm
SNH into auction -61.31%, closing -61.42%, SHFF into auction -37,41%, closing -35,35%, SRR into auction -22.52%, closing -23.78%.
Title: Re: Steinhoff
Post by: Bundu on December 06, 2017, 06:07:31 pm
I'm considering buying some SNH tomorrow...... wonder if I've maybe lost my mind  :D
Title: Re: Steinhoff
Post by: gcr on December 06, 2017, 08:40:11 pm
I'm considering buying some SNH tomorrow...... wonder if I've maybe lost my mind  :D
Maybe not your mind - but you will lose your money :'(
Title: Re: Steinhoff
Post by: gcr on December 06, 2017, 08:59:46 pm
I see Kap and SHF have 2 common directors in DM van der Merwe and SH Muller
Title: Re: Steinhoff
Post by: Moonraker on December 08, 2017, 09:17:00 am
The Shoprite related call options have been exercised, we all know that, but will this actually come about? The options were exercised before the brown stuff hit the fan.

Quote
The implementation of the investment in Shoprite is subject to a number of conditions
precedent as set out in the Pre-listing Statement, which include, inter alia, merger filings
with
various African Competition Authorities. To this end, the filings are being completed and will
be submitted to the relevant authorities in the foreseeable future.

Shareholders will be informed once all the conditions precedent for the implementation of the
transaction have been met.
Title: Buying more Steinhoff at "all time low"
Post by: rjthomas on December 10, 2017, 10:46:25 am
Quote
thanks for the info - maybe I should just buy some more? but I'm pretty deep in already  :(

Simon Brown from JustOneLap said this on Twitter, "Everybody wants to buy SNH .. Sure it does seem to have found a bottom, for now. That can change in a moment as we get new news and it's unlikely to be good news, I think they're still hiding things. I am not buying and do not recommend anybody else buy."

Follow him directly on Twitter, https://twitter.com/SimonPB
Title: Re: Steinhoff
Post by: Moonraker on December 10, 2017, 12:26:16 pm
Let's hope that C. Wiese is not going to be forced to sell his personal share holdings in Brait, PSG, Tradehold, KAP etc. as intimated is possible in the interview.
Mentioned at ± 6:10

https://www.youtube.com/watch?v=5w4Rxkh5oQs
Title: Re: Steinhoff
Post by: Moonraker on December 15, 2017, 02:48:43 pm
The Shoprite related call options have been exercised, we all know that, but will this actually come about? The options were exercised before the brown stuff hit the fan.

Quote
The implementation of the investment in Shoprite is subject to a number of conditions
precedent as set out in the Pre-listing Statement, which include, inter alia, merger filings
with
various African Competition Authorities. To this end, the filings are being completed and will
be submitted to the relevant authorities in the foreseeable future.

Shareholders will be informed once all the conditions precedent for the implementation of the
transaction have been met.




Steinhoff Africa Retail Limited - Update On Shoprite Call Options

Release Date: 15/12/2017 14:20:00      Code(s): SRR     Email this JSE Sens Item to a Friend   Printer Friendly Version
Update On Shoprite Call Options

Steinhoff Africa Retail Limited
(Previously K2017221869 (South Africa) Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share Code: SRR
ISIN: ZAE000247995
(“STAR” or the “Company”)

UPDATE ON SHOPRITE CALL OPTIONS

Shareholders are referred to STAR’s previous announcement dated 30 November 2017
pertaining to the exercise of call option agreements with PIC, Lancaster, Titan and Lavender
Sky (“call options”) to acquire approximately 23.1% economic interest in, and approximately
50.6% voting control of Shoprite, which call option agreements are subject to certain
conditions precedent.

The STAR board received confirmation from Titan which confirms that the call option
agreement with Titan will not be capable of implementation and will not become
unconditional. This means that the Lavender Sky call option agreement will also terminate.

As a result, the STAR board will therefore not be able to implement the call options pertaining
to Titan and Lavender Sky.

The STAR board will enter into discussions with the remaining parties in respect of their call
option agreements to assess the way forward.

Stellenbosch

15 December 2017
Title: Re: Steinhoff
Post by: Maurice on December 15, 2017, 04:58:30 pm
Why have Shoprite shares fallen? I would think Shoprite not being in STAR is an advantage! ::)
Title: Re: Steinhoff
Post by: Moonraker on December 15, 2017, 06:33:17 pm
Market probably reckons Wiese to sell a good chunk of his holding in SHP.
Title: Re: Steinhoff
Post by: gcr on December 15, 2017, 11:37:22 pm
Weise has unwound the Shoprite/Steinhoff deal - which could be interesting going forward
Title: Re: Steinhoff
Post by: Bundu on January 12, 2018, 07:31:18 pm
interesting article on the whole f-up
https://www.fin24.com/Finweek/Featured/4-questions-steinhoff-must-answer-20180111
Title: Criminal case
Post by: rjthomas on January 13, 2018, 09:14:39 pm
Steinhoff is selling off some assets. Once there's a criminal case, you could determine whether the company could possibly survive. I bet Christo Wiese is sure to try his best to keep the boat floating. However, I would only take a bite of STAR, which seems unaffected by corruption.