African Bank is back, sorta

[SimonPB]

they relist tomorrow (1 Feb) and update just now says HEPS of 3c for first six months ending March.

Gonna be wild watching this one.

An yes I got it wrong, never expected it back. Happens

[Shi]

Std Bank late in showing AXL on OST.

[StuS]

Yes, we are having some tech issues with getting data feeds into the platform for AXL, this should be resolved shortly

[Rovert]

Any idea as to how they would get to the valuation at around 50c?

[SimonPB]

like any other share = price discovery between buyers and sellers ..

[Preston]

I watched in horror on how the vultures dives in on ABIL. So glad it has a lifeline. Those who are short will hopefully be burn't like those who was short in KIO (remember Simon, they flack we took for KIO),

Long live ABIL (AXL)

[SimonPB]

depends where you short from ?

[Threshold5]

A 2 year wait for a 60%+ profit (@55c) is OK with me.

Pity the vultures descended on this and stripped the company though.

The question now is: where to from here?

[SimonPB]

not sure we can blame the vultures, the board sent it into bankruptcy ?!

[Threshold5]

Sure we can. ABIL should have been allowed to fail and the shareholders would have found value in the estate. Alternatively - the new "investors" could have righted the ship through a massive rights issue conducted in the public forum and subject to the normative corporate discolsure requirements and established comany law... but that would have been too transparent for them! Instead - the "Banks" stepped in to loot it. Crushed the small shareholders/investors as usual. Right up to and including the disgraceful STANGEN story. Vultures is too polite a term for them, in fact. The directors were just common crooks.