How long before we see Phumelela at R5 a share?

  • Over the Air
  • Over the Air's Avatar Topic Author
  • Away
  • Platinum Member
  • Platinum Member
More
3 months 3 weeks ago - 3 months 3 weeks ago #753141 by Over the Air
Over the Air created the topic: How long before we see Phumelela at R5 a share?
So the market seems pretty unimpressed with Phumelela and has battered this share down to R9-32 as at close of business yesterday. Without du Plessis artificially propping up the share, things have been going south in a big way. Long may this last. The share is worth less than half of what it was 2 years ago.

I keep thinking how did Larry support the selling of shares to members at the premium that he did? Why was it that the RA facilitated the selling of shares so that Phumelela could pay for the purchase of Supabets? What did this transaction have to do with owners and why were the Trust involved? Now I have this third hand, so I am not 100% sure of the facts, but I am told that some sort of "independant" analyst accompanied Larry on a roadshow to RA members in Jhb, PE and Cape Town, extolling the virtues of Phumelela. At these meetings, the RA members were encouraged to get onto this bargain priced "good thing". I am told that over R40M was raised in this manner. I wonder how the fleeced members feel now? Does anyone know who this independant analyst is?

A final thought I have. Larry does nothing that does not advantage Larry. Why is it that the puppetmasters at Turffontein strung their favourite minion to dance their dance? Roadshows cost money. Who paid for these? What did Larry receive for his role in duping his members? These are questions that should be asked by all RA members. Vote him out.
Last Edit: 3 months 3 weeks ago by Over the Air.

Please Log in or Create an account to join the conversation.

More
3 months 3 weeks ago #753224 by mister a
mister a replied the topic: How long before we see Phumelela at R5 a share?
OTA, hectic stuff,, less than half in 2 years,, what will happen if another big scandal hits the news ?

Please Log in or Create an account to join the conversation.

More
3 months 3 weeks ago #753471 by mister a
mister a replied the topic: How long before we see Phumelela at R5 a share?
Im hearing rumours about a bombshell about to explode regarding an offer to purchase of a building pulled back 11th hour and a 15bar less offer made to liquidatior?
Ota you are normally well informed, have you heard anything ??

Please Log in or Create an account to join the conversation.

  • Over the Air
  • Over the Air's Avatar Topic Author
  • Away
  • Platinum Member
  • Platinum Member
More
2 months 2 weeks ago #756876 by Over the Air
Over the Air replied the topic: How long before we see Phumelela at R5 a share?
Phumelela hit R7-50 at one point in trading today.

Please Log in or Create an account to join the conversation.

More
2 months 2 weeks ago #756882 by the good
the good replied the topic: How long before we see Phumelela at R5 a share?
Nearly ready for de listing !

Please Log in or Create an account to join the conversation.

  • Sylvester
  • Sylvester's Avatar
  • Away
  • Platinum Member
  • Platinum Member
More
2 months 2 weeks ago #756892 by Sylvester
Sylvester replied the topic: How long before we see Phumelela at R5 a share?
its a terrible share to own
so lightly traded

Please Log in or Create an account to join the conversation.

More
2 months 2 weeks ago #756917 by Muhtiman
Muhtiman replied the topic: How long before we see Phumelela at R5 a share?
.....the writing was always on the wall.....it was only a matter of time for the big fall....:S

My idea of "help from above" is a sniper on the roof
and a higher power is a hell fire missile armed drone.

Please Log in or Create an account to join the conversation.

More
2 months 1 week ago - 2 months 1 week ago #757145 by Garrick
Garrick replied the topic: How long before we see Phumelela at R5 a share?
For those of you who have missed the recent development between the operator and the Gauteng government I have reproduced from SENS the rapidly unfolding drama. Perhaps 'crisis' would be a more accurate description.

Tuesday April 9th could turn out to be a watershed date for the 'healthy' survival of South African racing as the fallout from this development would be a body blow to local racing.

'On 28 March 2019, the Gauteng Member of the Executive Council responsible for Economic Development, Environment, Agriculture and Rural Development ("the MEC") published amendments to the Gauteng Gambling Regulations, 1997 ("the Regulations").

The Regulations provide, inter alia, for the deduction by a bookmaker of 6% of a punters' winnings on bets on horse racing in the form of a betting tax. This tax is paid over to the Gauteng Gambling Board, who is obliged to pay half of this tax to Phumelela, in terms of Regulation 276.

The payment of this tax to Phumelela was agreed to between the Gauteng Government and the racing industry when the industry was corporatized in the 1990's and it was intended to ensure
the sustainability of the industry. The betting tax received by Phumelela in Gauteng constitutes 90% of the betting tax received by it in South Africa and amounts to approximately R75m per year.

The MEC has elected to amend Regulation 276, which will have the effect of depriving Phumelela of its portion of the betting tax and directing it towards the Board. This amendment will have a
material adverse effect on Phumelela and on racing in general.

Phumelela submitted detailed representations in respect of the proposed amendments, supported by an economic report analysing the economic effects of the amendments. Regardless of these
submissions, the MEC elected to effect the amendment to Regulation 276 and deprive Phumelela and the industry of a substantial amount of funding.

Phumelela has been advised that the amendment to Regulation 276 stands to be reviewed and set aside on, inter alia, the bases that it is a breach of the agreement between government and Phumelela, unlawful, irrational and unconstitutional.
Accordingly, on 29 March 2019, Phumelela instituted:

a. an application to have the amendment of Regulation 276 reviewed and set aside; and

b. an urgent application to suspend the implementation of the amended Regulation 276, pending the outcome of the review application.

The urgent application has been enrolled for 9 April 2019.'

Other points to ponder :

I am reliably informed that this 'arrangement' was only supposed to have been in effect for 10 years. If this is, indeed, correct (and I have been unable to confirm it) then by my calculation the concession should have fallen away around about 2007.

A cynic might argue that Phumelela should count itself lucky that the MEC has not requested a refund dating back to that date! It also speaks volumes about the efficiency of both parties that nobody picked up on it or attempted to renew the arrangement when it allegedly expired.

Given Phumelela's dismal historical record when bringing matters to court (remind me to avoid their attorney's!) it is entirely probable that the April 9th ruling might go against them.

I am surprised that no bookmaker has been motivated to open the betting on this matter.
Last Edit: 2 months 1 week ago by Garrick.
The following user(s) said Thank You: Dave Scott

Please Log in or Create an account to join the conversation.

  • Over the Air
  • Over the Air's Avatar Topic Author
  • Away
  • Platinum Member
  • Platinum Member
More
2 months 1 week ago #757166 by Over the Air
Over the Air replied the topic: How long before we see Phumelela at R5 a share?
I recall the questioning behind this dudes appointment as a director:

Johnny Sexwale is a former National Liberation Movement (ANC) fighter, who was responsible for infitrating MK soldiers into South Africa by means of forged documents. Mr. Sexwale is a top level political networker and a golfer. Johnny holds a rank of Colonel in the South African National Defence Force (SANDF). As a businessman, Mr. Sexwale, through Mantuba Investments Holdings, is involved in Information Technology,the automotive and the food industries.
Experience

Director
Gauteng Gambling Board
April 2013 – Present 6 years 1 month

Johannesburg Area, South Africa

To provide for the licensing of persons conducting casinos, bingo games, lotteries, totalizators and betting pools, and of gaming machine keepers and bookmakers, and for the registration of persons engaged in bookmaking, casino occupations and the manufacture and sale of gaming machines and gaming devices; to provide for the restriction, regulation and control of gambling and betting.

Well he obviously was expected to exert some sort of influence at The Gauteng Gambling Board with Phumelelas R75M "problem.

Please Log in or Create an account to join the conversation.

More
2 months 1 week ago #757171 by Muhtiman
Muhtiman replied the topic: How long before we see Phumelela at R5 a share?
.....don\t believe than even this Johnny Blue.....can get PHUM out of the pooh......:dry:

My idea of "help from above" is a sniper on the roof
and a higher power is a hell fire missile armed drone.

Please Log in or Create an account to join the conversation.

More
2 months 1 week ago #757174 by harry hotspur
harry hotspur replied the topic: How long before we see Phumelela at R5 a share?
Phumelela need Rob stranger to help them

Please Log in or Create an account to join the conversation.

  • Over the Air
  • Over the Air's Avatar Topic Author
  • Away
  • Platinum Member
  • Platinum Member
More
2 months 1 week ago #757282 by Over the Air
Over the Air replied the topic: How long before we see Phumelela at R5 a share?
B) B) B) B) B) B) B)

Shares down as low as 600 today. The market has ruled on Ps court chances tomorrow.

Its now a matter of time.

Please Log in or Create an account to join the conversation.

More
2 months 1 week ago #757303 by harry hotspur
harry hotspur replied the topic: How long before we see Phumelela at R5 a share?
Just had a chat with my broker who tells me they a superb buy at these levels and will be 20 rand come year end so help yourself.

Please Log in or Create an account to join the conversation.

More
2 months 1 week ago #757304 by manwatweet
manwatweet replied the topic: How long before we see Phumelela at R5 a share?

harry hotspur wrote: Just had a chat with my broker who tells me they a superb buy at these levels and will be 20 rand come year end so help yourself.


Your broker probably believes in the tooth fairy, Santa clause and the Easter bunny..................

As jy dom is moet jy slim wees

Please Log in or Create an account to join the conversation.

More
2 months 1 week ago #757307 by harry hotspur
harry hotspur replied the topic: How long before we see Phumelela at R5 a share?
Told me to buy capitec at 1 rand do you know what they are today?

Please Log in or Create an account to join the conversation.

  • Over the Air
  • Over the Air's Avatar Topic Author
  • Away
  • Platinum Member
  • Platinum Member
More
2 months 1 week ago #757310 by Over the Air
Over the Air replied the topic: How long before we see Phumelela at R5 a share?

harry hotspur wrote: Just had a chat with my broker who tells me they a superb buy at these levels and will be 20 rand come year end so help yourself.


Is your brokers surname Wainstein?

Please Log in or Create an account to join the conversation.

More
2 months 1 week ago #757313 by harry hotspur
harry hotspur replied the topic: How long before we see Phumelela at R5 a share?
No but his first name is the same as yours mike.

Please Log in or Create an account to join the conversation.

  • Chris van Buuren
  • Chris van Buuren's Avatar
  • Offline
  • Platinum Member
  • Platinum Member
More
2 months 1 week ago #757323 by Chris van Buuren
Chris van Buuren replied the topic: How long before we see Phumelela at R5 a share?
I foresee phum delisted before the end of this year

Please Log in or Create an account to join the conversation.

More
2 months 1 week ago #757326 by oscar
oscar replied the topic: How long before we see Phumelela at R5 a share?
Its a no brained.. the mkt knows

Please Log in or Create an account to join the conversation.

More
2 months 1 week ago #757343 by jim
jim replied the topic: How long before we see Phumelela at R5 a share?
that stock lw sold to members had a restraint on it. anybody remeber when the buyers are allowed to bail ?

Please Log in or Create an account to join the conversation.

Time to create page: 0.377 seconds

About A.B.C

African Betting Clan is established for the upliftment of the sports punter, who enjoys a bet on horseracing, football and other sports, enabling them to voice their views and opinions on all aspects of the sport of their choice, free of charge. Everyone who joins the CLAN, can discuss a multitude of sports events with a view to increasing the knowledge-base of all interested parties. Horse Racing is by far the most represented sport and we welcome the views of the many owners, trainers, punters and all racing stakeholders, all of whom post their contributions on our discussion forums. Members glean what they want to and discuss selections for the day and the general well being of the sport.

Get in touch

Contact Details

Main Office (HQ)
Box 40390 moreleta park, Pretoria 0044
+27 827854357

Events

June 2019
S M T W T F S
1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30
Joomla Extensions