How long before we see Phumelela at R5 a share?

If SA horse racing does go under can any actual person be accountable for it or will it be just the whole organisation that did a Mugabe on us and therefore no actual person can be prosecuted or jailed for defrauding?

.......doubt if racing will go right down the crapper.....when the shares are worth absolute squat .....maybe Kantor backed buy the other bigger breeding dynasty's chuck some bucks at it to keep it afloat.....:huh:

Im with Muhti, racing will survive, however the dividends that have been sucked out by a huge vacuum cleaner are gone forever. Its sad, it has always been sad.

Racing won't go under but we will be racing for R20k maidens.

The tote will be sold off as the final valuable asset that can be sold and the rest is already gone. We will then have to fight to not allow the "new tote" to have our product as they as not contributing enough. This will lead to years of under funding for the sport.

Eventually the new tote will be owned by racing people and the sport will revive itself. BUT i foresee many darks days ahead.

durbs wrote: If SA horse racing does go under can any actual person be accountable for it or will it be just the whole organisation that did a Mugabe on us and therefore no actual person can be prosecuted or jailed for defrauding?

They are like the ANC...collective decision-making but/so no-one accountable...

When there are R1 win dividends, why must anyone take a tote bet...100% risk / exposure and no reward...the laws of economics do not apply when the take-out is as high as it is...it was meant to fund racing but has been used to remove money from the industry in the form of dividends...

100% correct TN

TNaicker wrote:

durbs wrote: If SA horse racing does go under can any actual person be accountable for it or will it be just the whole organisation that did a Mugabe on us and therefore no actual person can be prosecuted or jailed for defrauding?

They are like the ANC...collective decision-making but/so no-one accountable...

When there are R1 win dividends, why must anyone take a tote bet...100% risk / exposure and no reward...the laws of economics do not apply when the take-out is as high as it is...it was meant to fund racing but has been used to remove money from the industry in the form of dividends...

Anywhere else in the world these people would have been charged or looked into at the least.
This is Africa and you can do what you please without having a care in the world.
We so backward in this continent that our leaders are millionaires and the people they are ruling are dying of starvation.
The corruption is world class and nothing happens.
That is because nobody actually cares about us,we have nothing to offer the world so they just let our leaders do what they please and look the other way.
You can't blame it on the uneducated as common sense just doesn't prevail.
We stuffed and will continue to decline.

Today was a significant day in terms of Phumelela. 1 600 000 shares, a huge number for this tightly held share were traded. What is also significant is that these shares traded at R5-75. the first significant volume below 600.

The question must be asked which of the shareholders are starting to unbundle, and why they are selling at these low levels. This could be the start of the sell off.

More than 3 months ago since Over the Air called it .....
Last I heard the share is R5.25.
And it's all quiet from the defenders of the realm.
Can we expect something big to break soon ?

Yes, maybe a delisting?

The biggest disgrace here is the devastation of value to the horseracings trust. the fact that some very poor people have overseen both the trust and phumelela over the last 15 or so years should be looked at by the NPA/Gambling boards etc.