DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ART. 17 OF THE EU MARKET ABUSE REGULATION (EU 596/2014, MAR)
UPDATE ON S155 MEETINGS
Steinhoff International Holdings N.V. ("SIHNV" or the "Company" and together with its other subsidiaries, "Steinhoff" or the "Steinhoff Group") and Steinhoff International Holdings Proprietary Limited ("SIHPL") provide the following update on the implementation of the Steinhoff global litigation settlement proposal.
Today, two of the three creditors' class meetings were held in relation to SIHPL's proposal in terms of section 155 of the South African Companies Act, 71 of 2008 (the "S155 Proposal").
As previously announced and explained, the S155 Proposal proposed three classes of claimants for voting: the SIHPL Financial Creditors; the SIHPL Market Purchase Claimants ("MPCs"); and the SIHPL Contractual Claimants.
As announced earlier today, pursuant to an order of the Western Cape High Court in South Africa made on Sunday, 5 September 2021, the meeting of the SIHPL Contractual Claimants has been postponed to Thursday, 9 September 2021 at 11am (SAST) or such time thereafter as determined by the Chairman.
The Board of SIHPL is pleased to report that its S155 Proposal has obtained sufficient support to pass the applicable statutory thresholds for approval (a majority in number representing at least 75% by value) from the SIHPL Financial Creditors and the SIHPL MPCs at their respective meetings.
The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited.
Stellenbosch, South Africa
Contact:
Steinhoff International Holdings N.V.