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Online Share Trading

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Earnings Report

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Bouwer
Super Contributor
Really bad update.. Hope everyone that took a punt got out in time..
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8 REPLIES 8
rsalie
Super Contributor
no divvie ... sign of things to come?
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The_White_Strip
Occasional Contributor
Not sure why the share is down so much, this news was already known. Share will be on a 7 PE now after fall in earnings. I say it will be good for the medium to long term, should re-rate to 10PE, and operations should recover.
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superstar
Regular Contributor
What is the update about their fraud court case and investigations on money laundering?
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The_White_Strip
Occasional Contributor
No, those charges were dropped. Financial statement HEPS down 19%, but we already knew that because of trading update, and all the reasons given in the full report should of been deduced from trading update. Just a bit of panic selling, this share will re-rate as this is possibly the turning point, shouldnt be much more bad news from now on.
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klapka
Super Contributor
I dont think "no dividend" was priced in. Market doesn't like surprises. Comments on future prospects look wishy washy too.
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superstar
Regular Contributor
My other problem with this stock is intergrity of the management. Why they took so long to disclose the charges? The same period they dumped their personal shares. They seem to be economical with the information they share with the market. This no dividend story is another economy with information until last minute
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Krieket
Not applicable
Recommendation - I am owning the share and have a loss of +-25%. Sell and move on or keep the share for a long term investment and believe that the price will recover to R20 in the long run? Thanks for all the help
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dust
Occasional Contributor
although the charges been drop the crime was probably committed, as in all such cases its ''one on one'' difficult to prove, but it will be bad news for future government contracts & probably for new contracts.
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