Captainfrom82 hat mal wieder interessante Einsichten gepostet:
"As a follow up regarding the 18th, below are my opinions: Use, don't use, not a financial advisor in SA, blah blah blah...
You may be aware that Steinhoff had engaged with the various creditors regarding amendments to the conditions of the previous LUA and CVA2.
These negotiations ultimately culminated in Steinhoff launching launched CVA3 on 17 May 2019. CVA3 amended the long-stop date to 30 June 2019 to allow for the process to be followed in the English Courts. By association, the long-stop date for the LUA was correspondingly amended to this same 30 June 2019.
Steinhoff is now busy with the entitlement process - there may be a SENS announcing the deadline in this regard. Further, Steinhoff is currently working on the reconciliation of the fees owing (Lock-Up Fees, Lock-Up Early Bird Fees and Support Letter Consent Fees). These fees may be paid immediately or may be capitalised. This process does not impact any timelines.
The actual final stage of the restructuring implementation would be expected to begin around 20 days (I think they are speaking of 20 working days) - effectively around 30 June 2019. Whether this "20 days" has any fat or buffers is unknown. My experience is that it probably has been extended with some built in safety net - 15days may be doable.
Whether Steinhoff releases the AFS2018 on 18 June is now probably irrelevant as it will probably very quickly be overtaken by the 1H19 results.
My personal expectations is that they will release an audited AFS2018 on 18 June 2019. The market will probably see this as to be "outdated". People will await the 1H19 un-audited results as this will provide :
1. A far more updated picture in terms of the Balance Sheet (what is the impact of MF now being treated as investment in an Associate; what is the latest status of impairments, what is the latest equity, debt and NAV.
2. We will have a better understanding on the sustainable earnings. We will also be able to get a heads up in terms of the impact of the unbundling, sale of various income producing assets, as well as the turn around strategy at MF, Confo etc.
It should be a very interesting 6 months coming up.
Und im nächsten Post folgenden Satz hinzugefügt:
"BTW, I am expecting AFS2018 revenue of around E17123 with reported EBITDA of around E89. "