How long before Phumelela trade at R2-00 a share?

  • Over the Air
  • Over the Air's Avatar Topic Author
  • Away
  • Platinum Member
  • Platinum Member
More
2 weeks 5 days ago #765581 by Over the Air
Over the Air created the topic: How long before Phumelela trade at R2-00 a share?
Phumelela reached its lowest level in years today trading at R4-80 off low volumes before the obligatory bump by the "night watchmen" artificially raised the share back to R5-50.

Phumelela looking good - no liquidity, labour issues, poor management, legal challenges.

Where are all those lads that abused me just a few short months ago?

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

More
2 weeks 4 days ago - 2 weeks 3 days ago #765604 by Mad Max
Mad Max replied the topic: How long before Phumelela trade at R2-00 a share?
Drop in turnover looming after closing most TAB Branches, forcing regular punters to find new places to bet. Hollywood, Marshalls, etc. must be smiling.
Last Edit: 2 weeks 3 days ago by Mad Max.

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

More
2 weeks 4 days ago #765607 by harry hotspur
harry hotspur replied the topic: How long before Phumelela trade at R2-00 a share?
Maybe someone could enlighten me who the head of tab and betting world was and where he is now?Sadly you need to get rid of the problem not transfer him from position to position because he ruins whatever he does.

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 weeks 4 days ago #765618 by Over the Air
Over the Air replied the topic: How long before Phumelela trade at R2-00 a share?

harry hotspur wrote: Maybe someone could enlighten me who the head of tab and betting world was and where he is now?Sadly you need to get rid of the problem not transfer him from position to position because he ruins whatever he does.


The new man has done a sterling job.

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
1 week 20 hours ago #766532 by Over the Air
Over the Air replied the topic: How long before Phumelela trade at R2-00 a share?
In free fall down to 380

Buyers at 275

The end game is upon us

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
1 week 20 hours ago #766533 by Over the Air
Over the Air replied the topic: How long before Phumelela trade at R2-00 a share?
Market capitalisation at current levels R389M

Debt levels R360M +

Not a happy picture.

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
1 week 20 hours ago #766535 by Over the Air
Over the Air replied the topic: How long before Phumelela trade at R2-00 a share?
Technically insolvent - they do not have the assets to cover the debt

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

More
1 week 19 hours ago #766537 by jim
jim replied the topic: How long before Phumelela trade at R2-00 a share?
a few things.
firstly market cap does not equal nav. need to know what nav is.
secondly looks like we race for 400 m odd in stakes . if the levy is permanently lost that equates to r 75 m odd so stakes would have to take the hit.
thirdly it would appear there are areas where rationalisation and cost cutting can be applied to improve efficiency.
lastly can the entity be delisted and revert to the old status quo ?

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
1 week 19 hours ago - 1 week 19 hours ago #766541 by Over the Air
Over the Air replied the topic: How long before Phumelela trade at R2-00 a share?
Hi Jim

Of course market cap does not equal NAV, however it will have a major effect on the loans taken with shares being used as collateral. In terms of assets, Phumelela have Turffontein and the Vaal. Crucially the gem Randjesfontein is owned by the RA unless Larry has done a "verbal stakes agreement" type arrangement.

The 400m in stakes are much more affected than just the lost 75m. In previous years all the dividends from Phum ( and they were artificially high ) went into stakes pot - I may be corrected but I think that 80% of the entire dividend amount went to stakes. In 2018 roughly R113M was paid out in dividends so theres another 90m hole. Taking this into account the funding of stakes will have to be subsidised by the RA coffers or reduced significantly. It makes you wonder why there has not been a peep from Larry and the boys..

Insofar as cost cutting and rationalisation goes, these actions could never restore parity to previous performances. And your last point about delisting, this is a possibility obviously, my question would be who would be stupid enough to be interested?
Last Edit: 1 week 19 hours ago by Over the Air.

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
1 week 18 hours ago #766548 by Chris van Buuren
Chris van Buuren replied the topic: How long before Phumelela trade at R2-00 a share?

Over the Air wrote: Hi Jim

Of course market cap does not equal NAV, however it will have a major effect on the loans taken with shares being used as collateral. In terms of assets, Phumelela have Turffontein and the Vaal. Crucially the gem Randjesfontein is owned by the RA unless Larry has done a "verbal stakes agreement" type arrangement.

The 400m in stakes are much more affected than just the lost 75m. In previous years all the dividends from Phum ( and they were artificially high ) went into stakes pot - I may be corrected but I think that 80% of the entire dividend amount went to stakes. In 2018 roughly R113M was paid out in dividends so theres another 90m hole. Taking this into account the funding of stakes will have to be subsidised by the RA coffers or reduced significantly. It makes you wonder why there has not been a peep from Larry and the boys..

Insofar as cost cutting and rationalisation goes, these actions could never restore parity to previous performances. And your last point about delisting, this is a possibility obviously, my question would be who would be stupid enough to be interested?


There is a group of very wealthy, very well respected people who are more than interested.
It's my full hope that delisting takes place and a takeover or buy out happens.
Nothing can be as bad as what the chosen few did to our beautiful sport

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

More
1 week 16 hours ago #766557 by the hawk
the hawk replied the topic: How long before Phumelela trade at R2-00 a share?
Approx 80% of the Racing Trust's share of the dividends went into stakes - not 80% of all dividends!! This stake money is principally used to fund the stakes of the work riders racing programme.

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
1 week 16 hours ago #766558 by Over the Air
Over the Air replied the topic: How long before Phumelela trade at R2-00 a share?

the hawk wrote: Approx 80% of the Racing Trust's share of the dividends went into stakes - not 80% of all dividends!! This stake money is principally used to fund the stakes of the work riders racing programme.


My apologies - Graeme is spot on I am multitasking and rushing through things without thinking. It still leaves us with a 25 bar hole depending on how you look at current shareholding.

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
1 week 9 hours ago #766581 by Over the Air
Over the Air replied the topic: How long before Phumelela trade at R2-00 a share?
So the share lost 23% of its value from Friday today, closing at 353. Under the circumstances I believe it did exceptionally well.

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

More
1 week 9 hours ago #766582 by harry hotspur
harry hotspur replied the topic: How long before Phumelela trade at R2-00 a share?
You need help over the air you got serious obsession issues .If phumelela do go down the tubes your life will be empty .

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

  • Mac
  • Mac's Avatar
  • Away
  • Platinum Member
  • Platinum Member
More
1 week 8 hours ago #766584 by Mac
Mac replied the topic: Re:How long before Phumelela trade at R2-00 a share?
This is bad news.


Sent from my iPhone using Tapatalk

"Lot 226, 2016 NYS, Diamondveld, R1.5m"

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

More
1 week 8 hours ago #766585 by jim
jim replied the topic: How long before Phumelela trade at R2-00 a share?
Thanks ota

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
1 week 7 hours ago - 1 week 7 hours ago #766587 by Over the Air
Over the Air replied the topic: How long before Phumelela trade at R2-00 a share?

harry hotspur wrote: You need help over the air you got serious obsession issues .If phumelela do go down the tubes your life will be empty .


Guilty as charged Harry and I make no excuses for it either. These angels you so love and admire have ruined the sport I love.
Last Edit: 1 week 7 hours ago by Over the Air.

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

More
6 days 22 hours ago #766595 by RA Stranger
RA Stranger replied the topic: How long before Phumelela trade at R2-00 a share?
[quote="Chris van Buuren

There is a group of very wealthy, very well respected people who are more than interested.
It's my full hope that delisting takes place and a takeover or buy out happens.
Nothing can be as bad as what the chosen few did to our beautiful sport[/quote]

.....nope no one is that interested ....as the carcass has been picked clean.....the cost of recapitalization to raise this phoenix from the burnt ruins is far too rich for even those with passion to keep racing as we know it alive....game over....:(
The following user(s) said Thank You: Sylvester

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

  • Bob Brogan
  • Bob Brogan's Avatar
  • Away
  • Administrator
  • Administrator
More
6 days 21 hours ago #766598 by Bob Brogan
Bob Brogan replied the topic: How long before Phumelela trade at R2-00 a share?
I hear they are interested in private racing

Sure that will be good for the punters

......................................................................................................................................

www.africanbettingclan.com

@SAFBETTINGCLAN

FACEBOOK

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

  • Mac
  • Mac's Avatar
  • Away
  • Platinum Member
  • Platinum Member
More
6 days 21 hours ago #766601 by Mac
Mac replied the topic: Re:How long before Phumelela trade at R2-00 a share?
R26.00 in Oct 2016, 85% down




Sent from my iPhone using Tapatalk

"Lot 226, 2016 NYS, Diamondveld, R1.5m"

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

Time to create page: 0.418 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

July 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 31
Joomla Extensions