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Tongaat (TONJ)

Johannesburg
Currency in ZAR
404
0(0.00%)
Delayed Data·

TONJ Comments

Any views on today's SENS announcement?
any hope for shareholders?they have confirmed an investor
Any light on the horizon on when we have access to our funds here?
Been unable to sell shares for months. Now its announced the conpany is entering business rescue (not liquidation). Does anyone know what this means for us with shares? Do we just lose them, do they get transferred, do they someday becone tradable again?
Thank you for respondong. I dont have a big holding but it’s still not nothing :/ Should have sold ages ago when my gut spoke. Oh well - live and learn i guess.
Unfortunately, with a company deeply as indebted as TON, I doubt you will ever see any return. I expect a fire sale and any viable bits sold as going concerns, but proceeds will be swallowed to pay down debt. Only if a white knight steps forward with a "sweet" deal will TON survive.
At least you will be able to write off the cost of purchase against any other capital gains. We all have our Tongaat's in our portfolios - mine was Simmers and Jack - still have those zombie shares: every time I see them, I am thankful for the experience at (thankfully) only a little cost.
When will we be able to trade again? Just sitting with shares here.
should one buy Tongaat shares currently?
No one can buy or even sell as trading them has been suspended :/
Hamish Rudland hinting an offer to all shareholders might be on the table that will cost them R350m more. Any guesses on offer price if that happens?
Unless the rights issue goes ahead and is successful, then Tongaat will possibly go bust.I sold out 6 months ago when it was becoming clear that a veritable rouges gallery was involved. And that's only the current management. I want nothing to do with Rudlands money laundering.
I never thought bullying on the stock market happened, this is some Brazilian Jiu-jitsu shit. I already bought low, you can't dollar cost average because the Rights Offer might turn out x10 of what you're holding currently and after the rights offer and dilutions it could again go down.This is pure evil, can't believe that the JSE allowed this thuggery to happen. The fraudsters should've been jailed just like the guys robbing cash in transit vans, their crimes are just hostile, these guys committed academic crimes and none of them have been convicted. This is a joke, I don't have millions but I would pay millions if I had for the guys in prison to run a train on these fraudsters who cooked the books.
focus on making the millions rather than spending the millions👍
Another 1 bites the dust.
man.. that sure de-escalated quickly 📉📉📉
not looking good value may drop further today after  results announcement , is it time to buy if it drops further ? any views
I'm gonna wait until the rights issue is officially announced. plus the you will probably need clarity of the damaged done on the farms by the recent floods. The company now wants 5 billion instead of 4. they might say 6 if the damage is excessive
Let's hope sugar cane likes water
R3.80 and market cap of R500ml for a company turning over R8.5bn buy & pray 🙏🏾
Having done some reading and giving it thought, i honestly think thats the best option. And then, only if and when you are passionate or optimistic about the company after all the technical and admin things happen, buy in for the long game.
are you guys trading this share or investing in the company? for those investing best to get further news on rights issue which will be Monday. the longer there is no news on rights date the share will hover or track downwards. operationally and from a business perspective this company is pumping but do the negative media attention the outlook is negative. the last spike wasn't buy retail it was buy insiders who are trying to increase their holdings for the corporate take over.
ouch 📉📉📉 @Bongani, good luck bro 🙏🙏🙏 I'll start buying again at 2.50
ship is sinking
I'm still holding 🙊
at 450 today cut our losses or hold on?
cut
Buy more to dramatically lower the average cost of your holding, and hope like *******there will be some sort of turnaround. 🤷‍♂️
Thoughts on TON now?Looks like investors will have to put their hands deeeep into their pockets to follow their rights, but the issue will possibly be at a deep discount to current (falling) price.My idea was to pick up NPL at cheap price and buy cheap rights. But will TON rise after?
perhaps buy after the RO
looking that way, but perhaps I will stick to Orion or Alphamin both up nearly 10% today? Or even that fan favorite on this forum Aveng up another 3.5%. Even Steinhoff if looking very respectable with share price rises to match.
I'm sold at 570 and got more orion and labat and steinhoff
it seems that sa companies like to go to pvt sector to bail them t out of their bad debt through rights offers....that' is when banks won't bail. them out....the directors got the company into Doo Doo , so why must pvt sector bail them out....they will do a Rights offer and then *******us over with a consolidation...same as aveng..... minority shareholders were hoping for a high rate of return on a penny share and then bang...500 to 1.......no people....tongaat directors with fancy accounting got the company into the dumps.....they need to do what steinhoff did, eat humble pie....go into agreements with the those that they owe money to,and build the company up again.....and face the law
we can't be selling out another south African brand because bad people did bad stuff.....they must be taken to task
I bought in, but after realising we will have to buy 3 to 400% extra in the rights issue, I backed out. If issue is successful no debt but sugar and property are patchy.  So TON will still struggle. Lesson- do homework then buy! A 15% loss for me hurts, but happy to sit this one out. Good luck guys!
or sell your rights to the underwriter?
A good strategy, depending if the NPL's have much value. All depends on the issue price and amount to be raised. I doubt they will have a 2nd chance, so they should make this issue big to wipe out debt. If I get back in, it will be to buy NPL from position of actual knowledge. Lower risk for me.
time to buy?
low 5 is always good to get in at , watch the height of the spikes.... however we may be waiting a whilst for the next run
How increddibly terrible.
At what price do you think TON will settle? More importantly, should we wait for the rights issue and what price do we expect? I hear 4 to 5 rand - but to raise the 2billion, we will probably be asked to buy 2 or 3 shares for each one held.At least Magistar will be a good controlling shareholder.
So the action before the drop (the quick rise) was basically insiders who knew what was coming?
correct. it was institutions increasing their holdings so they won't be affected by the dilution by increasing the movement of the 30 day average. price will still drop. rights offer should be around 4.5 with old calcs on a 7.5 bucks 30 day average. But anyone could see this comming which is why we cashed out last week and made our money. price is still going to drop.
Should you buy ?
Ok so someone just dumped a pile of shares. I wonder if the debt restructuring involves a share placement and if that share placement involves a VWAP price. If so it would make sense why someone may be trying to bring the price down.
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