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Steinhoff International Holdings N.V. / Key word(s): Miscellaneous
DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ART. 17 OF THE EU MARKET ABUSE REGULATION (EU 596/2014, MAR)
RESULT OF SIHPL S155 CONTRACTUAL CLAIMANTS MEETING
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") report that at the meeting of the SIHPL Contractual Claimants held today the S155 Proposal obtained sufficient support to pass the applicable statutory thresholds for approval (a majority in number representing at least 75% by value) from the SIHPL Contractual Claimants.
As previously explained, SIHPL's proposal in terms of section 155 of the South African Companies Act, 71 of 2008 (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.
On 6 September 2021, two of the three creditors' class meetings were concluded. Steinhoff reported the same day that both meetings obtained sufficient support to pass the applicable statutory thresholds for approval from the SIHPL Financial Creditors and the SIHPL MPCs at their respective meetings.
The meeting of the SIHPL Contractual Claimants to vote on the S155 Proposal resumed today at 14:00 (SAST) and it obtained overwhelming sufficient support to pass the applicable statutory thresholds for approval from the SIHPL Contractual Claimants.
All three classes of SIHPL claimants have now voted in favour of the s155 Proposal, without a single vote being cast against the approval of the S155 Proposal. SIHPL will forthwith apply to the Cape High Court for an Order approving and sanctioning the proposal.
In addition, as announced on 8 September 2021, the Committee of Representatives has also voted unanimously in favour of the Composition Plan in terms of SIHNV's Dutch suspension of payments proceedings. This outcome will now also need to be considered by the District Court of Amsterdam in a subsequent confirmation hearing, which has been scheduled at 10.00 am (CET) on 16 September 2021 at the District Court of Amsterdam.
The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited.
Stellenbosch, South Africa
10 September 2021
10-Sep-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Steinhoff International Holdings N.V.
cnr Adam Tas and Devon Valley Road
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
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