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Pembury Lifestyle Group (PEM)
#46
(04-19-2018, 10:49 AM)Spreadsheet Ranger Wrote: Knowing there's still a year of not so good results, I wonder if I shouldn't scoop up some more shares.

Is there any reason for them not to be profitable by 2019?

As far as I can remember Ranger, they cited heavy investment they needed to make to keep their promised number of schools of 40 by 2020 and also to allow pupils numbers to grow in each of the new schools. At that stage the retirement villages were contemplated but not confirmed for integration into the group. These then have a chance to also change the picture now that they are part of the group. So far I’m happy, what they need now is Long4life (Joffe) with deep pockets as an anchor shareholder, then growth would really accelerate. ?wishful ?

#47
Management must take full responsibility for what's going on right now and must know their credibility is gone. Their blahblahblah SENS means nothing to investors, with this steinhoff cloud still lingering in the markets.

#48
(05-02-2018, 10:12 AM)Groovy Wrote: Management must take full responsibility for what's going on right now and must know their credibility is gone. Their blahblahblah SENS means nothing to investors, with this steinhoff cloud still lingering in the markets.

I fully agree Groovy, credibility has vanished after this hide and seek, this goes to their operational credibility too. Quite disappointing really. They are now acting like a bunch of amateurs. Not a great start.

#49
PEM promised a trading statement on or before 15 May 2018, today is 16 May 2018. I have called their office this morning, well " CFO said the results will be issued soon" when? "Soon" I do not believe they will issue anything this month.

This share will tank badly when they resume trading, if ever this will happen. Zero Credibility left.

#50
Seems like this cupboard has more than skeletons in it. Something smells very fishy.

#51
(05-31-2018, 01:47 AM)Red88 Wrote: Seems like this cupboard has more than skeletons in it. Something smells very fishy.
The share suspended I have seen?

#52
(05-31-2018, 01:29 PM)Chrisjan Botha Wrote: The share suspended I have seen?

It was suspended due to non-submission of annual financials. Some problem with valuations of properties being purchased.

#53
Still no answers.

https://www.businesslive.co.za/bd/market...-thursday/

#54
(05-31-2018, 02:11 PM)SB45 Wrote: Still no answers.

https://www.businesslive.co.za/bd/market...-thursday/

I think it is worth holding for a while to see what happens in the next year. If it takes off it will be worth it but then I am the eternal optimist.

#55
Well, this is a disaster...

Link to tweet: https://twitter.com/SimonPB/status/1014033759358930944

PEM yearend is December, so results due end March .. 

10 April they report some 'minor issues' and say results out by end April ..

2 May they promise trading update by 15 May and results soon after ..

As of today, zip, nada, zero results ..

Share is currently suspended

#JSE

JSE Finance Forum Attachment - Filename: 2018-07-03_10-45-58.png   

#56
PEMBURY LIFESTYLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/205899/06)
(“PL Group” or “the Company”)
ISIN Code: ZAE000222949 JSE Code: PEM


UPDATE ANNOUNCEMENT ON SUSPENSION AND PUBLICATION OF RESULTS

Shareholders are referred to the announcement issued on 2 May 2018 advising that as a result of technical IFRS and other key matters, there would be a delay in the finalisation of the audit and publication of the results announcement for the year ended 31 December 2017.

In addition to the acquisition issues previously mentioned, the company also experienced poor accounting and controls during the second half of the year (primarily due to the appointment of a finance person who did not perform and who is no longer with the Company), which have subsequently been addressed. However, this only came to the attention of the Audit and Risk Committee (“ARC”) and Board meetings during March 2018 and the extent of the additional work and auditing required was not anticipated at the time. This necessitated additional resources and time to correct the information, which also required additional audit procedures.

Regular meetings have been held by the ARC and Board during this period to actively address and monitor the situation. Measures have been put in place to avoid a repeat of this situation going forward.

The audit is now substantially complete with the final IFRS and quality control reviews of the Annual Financial Statements taking place next week, with ARC and Board meetings set for the week thereafter to approve the results announcement, the Annual Financial Statements, and the Annual Report.

The application will be made to the JSE to lift the suspension of trade in the Company’s securities once the Annual Report has been printed and posted to shareholders, which will be completed before the end of July 2018.

BY ORDER OF THE BOARD
Johannesburg
6 July 2018

SENS: https://senspdf.jse.co.za/documents/SENS...401989.pdf

#57
They should have done a better job of keeping shareholders informed about what is going on. I don’t see why this information couldn’t have been released a few weeks, or even months, ago...

#58
These guys need to come through. We haven't forgotten about the targets they set for this year. They must just stop thugging.

Sent from my C2105 using Tapatalk

#59
Financials next week if we can believe what they said.

#60
No Financials yet?






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