MICHAEL AVERY: Market sceptical about SA Taxi turnaround shtick

Transaction Capital CEO David Hurwitz is on a media and investor schmooze mission to repair damaged credibility, with the backing of some formidable shareholders who have upped their stakes in the past four trading days — notably Chris Seabrooke of Sabvest Capital and a former chair, and the second-largest shareholder, Coronation. This was after the loss of almost 70% of its market value the week before.

Judging by the share price reaction — a gain of 13% for the week but still 53% down on the R28.13 price the day before Hurwitz delivered that calamitous trading update — the market remains unconvinced. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

So the market should be, schmooze only fools some of the people some of the time. Recalibrate the balance sheet carrying values to lower of cost and net realisable value and its a horror show. The lenders are going to have to make a call soon. TC Ltd. could catalyse systemic risk

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Transaction Capital insists SA Taxi business is ‘robust’Unit is facing severe challenges as vehicle repossessions rise
La source: BDliveSA - 🏆 12. / 63 Lire la suite »

THIS WEEKEND: Florida Road Open Street Market | East Coast RadioIn a first for Durban, Open Streets Florida Road encourages the free and safe movement of pedestrians experiencing the space in new and exciting way. ThingsToDoInKZN ♥️ Stay at home, don't get shot. thingstodoinkzn
La source: ecr9495 - 🏆 38. / 51 Lire la suite »

Enhance your ceramic collection at the Rondebosch Potters MarketCeramics SA Western Cape has been hosting the biannual Potters' Market in Rondebosch Park for over 40 years, offering a diverse selection of ceramics, stoneware, and earthenware in a shady and charming environment.
La source: CapeTownEtc - 🏆 17. / 63 Lire la suite »

Acsa respond to BP exit from South African jet fuel marketThe Airports Company South Africa (ACSA) has noted the multiple media reports about British Petroleum (BP) ceasing to supply jet fuel for airports in South Africa.
La source: CapeTownEtc - 🏆 17. / 63 Lire la suite »

PetroSA aims to expand interests in aviation fuel supply marketThe state-owned company has stepped into the gap left by BP Southern Africa I smell another tender and corruption… Ag Shame for PetroSA
La source: BDliveSA - 🏆 12. / 63 Lire la suite »