Horse racing trust biggest loser in Phumelela share decimation

it may have been mentioned on other threads if so i apoligise.

see that P share price now stuck below 2.00 at 190

market cap 195 million at this level

Assuming the trust owns about 30 % of the shares in P . there value is around about 58 million rand.

compare this to october 2016 where the value of their shares were around about 650 million plus.

surely the administrators of the trust have failed in their responsibilities to protect the trusts assets.

i sincerely hope the Gambling board and NPA investigate Phumelela/steinhoff connection and any one else who benefited firstly from suspect activities and then the total mismanagement of Phumelela and its subsidiaries.

a lot of people will be left unemployed when all this nonsense is resolved. and the beneficiaries of the trust will be sitting with a worthless asset.

Sylvester wrote: it may have been mentioned on other threads if so i apoligise.

see that P share price now stuck below 2.00 at 190

market cap 195 million at this level

Assuming the trust owns about 30 % of the shares in P . there value is around about

compare this to october 2016 where the value of their shares were around about 650 million plus.

surely the administrators of the trust have failed in their responsibilities to protect the trusts assets.

i sincerely hope the Gambling board and NPA investigate Phumelela/steinhoff connection and any one else who benefited firstly from suspect activities and then the total mismanagement of Phumelela and its subsidiaries.

a lot of people will be left unemployed when all this nonsense is resolved. and the beneficiaries of the trust will be sitting with a worthless asset.

Sly do you perhaps have any idea what Phumulela owns? I think Turffontein is leased, I’m not sure about Kenilworth or the Vaal? What I know they must have, is very high exposure to all the leases for all the off-course totes?

I wonder what truly valuable assets they do own.