Steinhoff set to be liquidated next Friday

[rvZA]

The liquidators of Steinhoff International have set a liquidation date of 13 October, after which it will delist and its shares shall cease to exist.

Steinhoff's shareholders had voted to dissolve the company and delist it from the Johannesburg and Frankfurt stock exchanges in July, with around 99% approval during a meeting in Amsterdam that was poorly attended.

Steinhoff set to be liquidated next Friday | Business

The liquidators of Steinhoff International have set a liquidation date of 13 October, after which it and its shares shall cease to exist.

www.news24.com

 

[rvZA]

Personally, I do not agree with this. Creditors should be paid first until all debts are paid. Shareholders should not be entitled to anything until such time all creditors were paid in full and what remains are shared among shareholders. Buying shares was a risk taken by the shareholders and in an event like this, they should be last in line of payment.

 

[Gudnews]

Personally, I do not agree with this. Creditors should be paid first until all debts are paid. Shareholders should not be entitled to anything until such time all creditors were paid in full and what remains are shared among shareholders. Buying shares was a risk taken by the shareholders and in an event like this, they should be last in line of payment.

Well the fate of my Tongaat Hullet holding should agree with you.

Tongaat shareholders set to receive nothing for their shares

Amended business rescue plan expected to be published by 31 October.

www.moneyweb.co.za

 

[rvZA]

Well the fate of my Tongaat Hullet holding should agree with you.

Tongaat shareholders set to receive nothing for their shares

Amended business rescue plan expected to be published by 31 October.

www.moneyweb.co.za

It's a risk one takes unfortunately when investing in a company. Any company in this world, no matter its size, can meet this fate. Hell, even Google, Apple, Microsoft, the lot are open for something like this in current world economic conditions. Most likely will in coming years too. Your best bet should be to identify these companies, identify the risks and buy out before this happens. Cut some losses if need be.

 

[backstreetboy]

It's a risk one takes unfortunately when investing in a company. Any company in this world, no matter its size, can meet this fate. Hell, even Google, Apple, Microsoft, the lot are open for something like this in current world economic conditions. Most likely will in coming years too. Your best bet should be to identify these companies, identify the risks and buy out before this happens. Cut some losses if need be.

Lol

 

[rvZA]

Lol

Whether you like it or not or lolling all day long, this is irrelevant.

 

[backstreetboy]

Whether you like it or not or lolling all day long, this is irrelevant.

Yet you still commented lol.

 

[ForceFate]

Personally, I do not agree with this. Creditors should be paid first until all debts are paid. Shareholders should not be entitled to anything until such time all creditors were paid in full and what remains are shared among shareholders. Buying shares was a risk taken by the shareholders and in an event like this, they should be last in line of payment.

You're a closet "commie".

 

[Academic]

I see that shareholders do not end up with nothing. They will have 20% new style rights. Maybe that is why the shares are still priced above nil by the market. Is this not perhaps a profitable opportunity?