Steinhoff shares nosedive after CEO Markus Jooste resigns

07 Décembre, 2017, 00:49 | Auteur: Auguste Feret
  • A Steinhoff International Holdings NV logo sits on display outside the company's offices in Stellenbosch South Africa on Wednesday Aug. 17 2016

In a statement last night the company said: "The supervisory board of Steinhoff wishes to advise shareholders that new information has come to light today which relates to accounting irregularities requiring further investigation".

Steinhoff SNHJ.J SNHG.DE said chief executive Markus Jooste, who oversaw its expansion to one of the world's largest household goods retailers over almost 20 years, had resigned and PwC would undertake an "independent investigation".

The CEO of recently unbundled Steinhoff African Retail (Star), Ben la Grange, has also resigned with immediate effect but will remain as a nonexecutive director on Star's board.

After initially falling 60 per cent to a seven year low, the shares in Steinhoff, which owns 40 local brands in more than 30 countries, later recovered but were still down 52%.

The company has asked PWC to conduct an independent investigation into the matter. Steinhoff has said that was a tax case relating to whether revenues were booked correctly, and taxable profit correctly declared.

Two suspects in custody after shooting near Graham-Kapowsin High School
KOMO reports that a getaway auto has also been located in connection with Tuesday's shooting at Graham-Kapowsin High School. The Pierce County Sheriff's Department is offering a reward for information in the case through Crime Stoppers.

(IEX) Announces $0.37 Quarterly Dividend
The firm has a market capitalization of $10,237.08, a price-to-earnings ratio of 32.29, a P/E/G ratio of 2.42 and a beta of 1.24. The institutional investor acquired 2,791 shares of the industrial products company's stock, valued at approximately $339,000.

Bernstein Analysts Give Deutsche Lufthansa Aktiengesellschaft (LHA) a €33.00 Price Target
The Passenger Airline Group segment offers passenger services through a route network of 301 destinations in 100 countries. Deutsche Lufthansa Aktiengesellschaft has a 1-year low of €11.21 ($13.35) and a 1-year high of €29.76 ($35.43).

It put Christo Wiese, its largest shareholder and chairman, in charge and later sought to give "additional comfort" to investors anxious about its ability to fund its existing operations, saying it had ‍identified measures that would give it around 2 billion euros ($2.4 billion) of additional liquidity. Attempts to contact Jooste were not immediately successful.

Over near two decades Mr Jooste has overseen Steinhoff's expansion from a South African furniture manufacturer to one of the world's biggest household goods retailers.

Former manufacturing arm of Steinhoff Industrial, KAP's share price fell 14% to R7.45. The release of Steinhoff's 2017 results was postponed until the probe is over. The company had been expected to release its results for the year ended September 30 on Wednesday, but said it would now publish results when it was in a position to do so.

It will also "determine whether any prior years' financial statements will need to be restated", its statement said. Theodore de Klerk was appointed as his replacement, PSG said on Wednesday.

The FT approached Deloitte - which was appointed the company's external auditor in 2015 and audited its accounts in 2015 and 2016, according to Steinhoff's annual reports.

Conseillé:

  • Le streaming de la discorde entre Google et Amazon — YouTube

    Et si vous pensiez que cette guéguerre n'est qu'une passade, sachez que les hostilités continuent entre les deux entreprises. Compte tenu de ce manque de réciprocité, nous retirons YouTube sur Echo Show et FireTV.
    FG Identifies 2778 Nigerians In Libya Detention Camps

    FG Identifies 2778 Nigerians In Libya Detention Camps

    Fachano said: "The IOM informs the mission once Nigerians are identified among the illegal migrants". At least 20,000 migrants are being held in government detention centres in Libya, Quartey said.
    Model in Britain's sex-and-spy Profumo scandal dies at 75

    Model in Britain's sex-and-spy Profumo scandal dies at 75

    Keeler, who had been living under the name of Sloane for many years, was briefly married twice; both marriages ended in divorce. In 1961 she had affairs with the Secretary of State for War Profumo and the Soviet military attache Yevgeny Ivanov.
  • Flynn Said Russian Sanctions Would be 'Ripped Up,' Whistle-Blower Says

    Flynn Said Russian Sanctions Would be 'Ripped Up,' Whistle-Blower Says

    Flynn had been a paid consultant for the business venture before he joined the Trump campaign previous year . According to the whistleblower, Copson said, "Mike has been putting everything in place for us".
    Getty Museum holds fast against fire threat for now

    Getty Museum holds fast against fire threat for now

    Stunned motorists found the hillside ablaze and gridlock below as fire raced towards the homes of numerous city's rich and famous. North winds of 8 to 14 miles per hour and a relative humidity in the low 20's caused the fire to spread rapidly to the south.
    Willie Taggart to leave OR  to become FSU head coach

    Willie Taggart to leave OR to become FSU head coach

    It hasn't even been a year since Taggart held his introductory press conference at OR , replacing Mark Helfrich. Florida State is 6-6 this season and will face Southern Mississippi in the December 27 Independence Bowl.
  • Alain Juppé votera Maël de Calan — Présidence LR

    Alain Juppé votera Maël de Calan — Présidence LR

    Ce n'était même pas un secret de polichinelle, mais Alain Juppé a tout de même tenu à officialiser la chose. Il ne se contente pas de récuser toute alliance avec le Front national , il combat les idées du FN.
    Oklahoma RB Rodney Anderson facing rape allegation

    Oklahoma RB Rodney Anderson facing rape allegation

    The emergency protective order was filed and issued Monday, with the woman writing "I remember feeling like I couldn't get away". Anderson's attorney, Derek Chance , released a statement in which he says his client is "shocked and disturbed" by the claims.
    Sam Allardyce: I'll save Everton players for Merseyside derby

    Sam Allardyce: I'll save Everton players for Merseyside derby

    Former Liverpool player and coach Sammy Lee has spoken of his joy in making the jump to Merseyside rivals Everton . This is a fantastic football club and people know my history . "I think it has probably started", Osman said .
  • Peralta board orders chancellor to halt Oakland A's stadium planning

    Peralta board orders chancellor to halt Oakland A's stadium planning

    The area is surrounded by parkland and neighborhoods, a stark contrast to the sea of asphalt the Oakland Coliseum exists in. The Athletics were looking at the 13-acre plot of land near Laney College that was close to downtown Oakland.

    Amazon.com (NASDAQ:AMZN) Is Now Covered By Moffett Nathanson. What's Next?

    Following the transaction, the director now owns 17,114 shares of the company's stock, valued at approximately $20,583,692.36. The e-commerce giant reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $1.09 by ($0.57).
    USA  non-manufacturing sector reports slower expansion in November

    USA non-manufacturing sector reports slower expansion in November

    He added, "Comments from the survey respondents indicate that the economy and sector will continue to grow for the remainder of the year".


Populaire

Des terroristes islamistes voulaient éliminer Theresa May — Attentat déjoué
Ils préparaient un attentat contre le 10 Downing Street, la résidence londonienne de la Première ministre, selon le Daily Mirror. Puis, ils comptaient s'introduire à l'intérieur avant d'attaquer Theresa May au couteau, ont rapporté plusieurs médias .

PSA élabore un tricycle hybride
Au final, il est capable de réaliser des trajets urbains en mode zéro émission à des vitesses allant jusqu'à 70 km/h. La catégorie L5e correspond aux véhicules 3 roues utilisables sur tout type de route dépassant les 50 km/h.

53-Year Old Rafael Palmeiro Considering MLB Comeback
Rafael Palmeiro wants to pull a Minnie Minoso. "Let me start by telling you this: I have never used steroids, period", Palmeiro said.

Roger Goodell signs contract extension as National Football League commissioner, per report
Blank told The MMQB that he spoke with Jones recently and that the Cowboys owner "understands the contract and how we got here". The deal was signed today, according to ProFootballTalk , although the terms of the deal have not yet been disclosed.

Strong natural disaster tremors felt in Delhi
People rushed out of their homes in Rudraprayag, Chamoli, Uttarkashi and Dehradun district as the strong tremors were felt. Media reports said that the tremors were felt in many parts of North India , including Chandigarh and Dehradun.

"The Silence Breakers" are Time magazine's Person of the Year 2017
The Time cover features five women, including Fowler, Swift and the actor Ashley Judd , who accused Weinstein of misconduct. Weinstein has denied via his lawyers and spokespeople that he engaged in any non-consensual behavior.

Mourinho's injury update for City
Gale feels City pose too strong a threat for United to press and claims Guardiola's men could "pierce them apart". To win those games you need to give everything.

Ford Motor Company (F) Outlines Bold New China Growth Plan
X China is "at the heart of electric vehicle and SUV growth and the mobility movement", Bill Ford , chairman of the iconic American auto brand, said in a statement.

Obama to address mayors' meeting on climate change
Chicago Chief Sustainability Officer Chris Wheat says the idea is to "fill the void" the Trump administration has left. Chicago officials are billing the two-day North American Climate Summit Chicago as the first of its kind in the city.

Kenya draw with Libya 0-0 in Cecafa Cup
Zanzibar shocked Rwanda with a 3-1 win in the ongoing CECAFA Senior Challenge Cup at Machakos Stadium in Kenya , on Tuesday . Abed Yalew opened the scored for the four-time champions as early as the 24th minute after dominating the proceedings.