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AB will be suspended Monday

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Valued Contributor
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20 REPLIES 20
Super Contributor
Kudos to you then!! (only thing is I really dont think the big buyers were averaging down!! then = amazing) Here is a copy of our conversation in January: Re:Re:Interest Rate Hike by SimonPB on 30 Jan 10:16 African Bank going to zero (or a cheap buy out), their business model is broken with no repair possible .. Re:Re:Re:Interest Rate Hike by saash on 30 Jan 10:23 Why is this thing still the largest constituent of the Satrix Divi basket? Re:Re:Re:Interest Rate Hike by warhippo on 30 Jan 16:52 Sjoe, Bold statement Simon. Not a fan of African Bank either (mostly personal ?ethical reasons and I may be 100% wrong) But: In the last 30days Coronation increased holding of ordinary shares to 20%, PIC = 15%, Old Mutual 6% and SANLAM 5% and who else also? Re:Re:Re:Re:Interest Rate Hike by SimonPB on 02 Feb 09:35 sure bold and like most bold statements likely wrong .. CML and rest buying more is just that, buying more AKA averaging down .. as Investec did with GIJ and many others with others .. just because they buying does not mean it'll end well
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Valued Contributor
lol, when getting it right some how feels wrong .. it messy and not nice for anybody involved ..
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JeromeA
Occasional Contributor
Do you think they will suspend trading tomorrow?
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Not applicable
Just for interest sake what happens to open short or long derivative positions?
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Super Contributor
ABL should put out SENS first thing tomorrow morning (before market opens) to explain what exactly this means.
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jetman
Occasional Contributor
Heard on enca news Abil will continue trading on jse til further notice
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jetman
Occasional Contributor
Heard on enca news Abil will continue trading on jse til further notice
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Not applicable
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Not applicable
SENS out - ABIL shares have been suspended!
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Valued Contributor
derivatoves are stuck and will take some tiem to unwind I suspects ..
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Super Contributor
So to the uninformed little guy that is being [email protected]#$ on, will they still be able to withdraw deposits?
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Super Contributor
What is the average international term under curatorship for a comp such as ABL?
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Valued Contributor
they have like only R100m retail deposit, an yes they can be withdrawn
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Not applicable
I am surprised they haven't suspended retail withdrawals. That is the normal course of action for a bank under curatorship, to avoid a run on the bank. Unless the retail deposits are not used for capital adequacy purposes?
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Super Contributor
retail depositors represent less than 1% of African Bank's creditors. We are therefore able to make an unequivocal commitment to all existing retail depositors that their money is safe, and that they can continue with African Bank without fear that their deposits will be frozen or lost. "They will have full access to their money in the ordinary course of business," Marcus
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Valued Contributor
skaap, it such a small amount it doesn't matter, they can withdraw no worries
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Super Contributor
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Not applicable
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Super Contributor
The best-laid schemes o' Mice an' Men Gang aft agley, An' lea'e us nought but grief an' pain, For promis'd joy!
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