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Steinhoff International Holdings N.V. : SATISFACTION OF SUSPENSIVE CONDITIONS UNDER SIHPL NQC SETTLEMENTS

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DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous
07.01.2022 / 13:50
The issuer is solely responsible for the content of this announcement.

 

STEINHOFF INTERNATIONAL HOLDINGS N.V. - SATISFACTION OF SUSPENSIVE CONDITIONS UNDER SIHPL NQC SETTLEMENTS

Steinhoff International Holdings N.V. ("SIHNV" or the "Company", together with its subsidiaries, "Steinhoff" or the "Steinhoff Group") and the former South African holding company of the Steinhoff Group, Steinhoff International Holdings Proprietary Limited ("SIHPL"), provide the following update on Steinhoff's global settlement of ongoing and pending litigation proceedings (the "Global Litigation Settlement").

Steinhoff refers to the public announcements made on 15 December 2021 and 28 December 2021, respectively.

On 15 December 2021 Steinhoff announced that Trevo Capital Limited ("Trevo") and certain other SIHPL non-qualifying claimants had confirmed their conditional support for the S155 Proposal subject to the satisfaction of certain suspensive conditions ("SIHPL NQC Settlements"). One condition was that Steinhoff obtained the requisite level of support from its financial creditors for the SIHPL NQC Settlements, which was obtained and referred to in the 28 December 2021 announcement.

Steinhoff further reports that all the suspensive conditions set out in the SIHPL NQC Settlements have been fully satisfied.

Under the SIHPL NQC Settlements, the SIHPL NQCs agreed to withdraw their opposition to the SIHPL sanction application, to support the sanction application and implementation of the Steinhoff Global Litigation Settlement.

The sanction hearing in respect of the section 155 Proposal is scheduled to be heard by the Western Cape High Court in South Africa between 24th to 28th January 2022.

Further Information

Further updates on the on implementation of the Global Litigation Settlement will be provided in due course.

Claimants are able to review additional information in relation to the Global Litigation Settlement on the following website: www.SteinhoffSettlement.com.

The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited.

Stellenbosch, South Africa

7 January 2022


07.01.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Steinhoff International Holdings N.V.

cnr Adam Tas and Devon Valley Road

7600 Stellenbosch

South Africa

Phone:

+27218080700

Fax:

+27218080800

E-mail:

investors@steinhoffinternational.com

Internet:

www.steinhoffinternational.com

ISIN:

NL0011375019

WKN:

A14XB9

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1266206


 

End of News

DGAP News Service

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