DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous
STEINHOFF INTERNATIONAL HOLDINGS N.V. - UPDATE ON TREVO'S SECTION 45 APPLICATION
Steinhoff International Holdings N.V. ("SIHNV" or the "Company", together with its subsidiaries, "Steinhoff" or the "Steinhoff Group") provides the following update.
As described in the Company's announcement on 16 February 2021, Trevo Capital Ltd ("Trevo") brought an application in the Western Cape High Court seeking a declaratory Order that, amongst other things, the Steinhoff International Holdings Proprietary Limited ("SIHPL") contingent payment undertaking between SIHPL and Global Loan Agency Services Limited dated 12 August 2019 (the "SIHPL CPU"), is void pursuant to section 45 of the South African Companies Act. Hamilton B.V. and Hamilton 2 B.V. also joined the application as the second and third applicants respectively.
Today the Court released its judgment granting an order declaring the SIHPL CPU and SIHPL's board resolution authorising entry into the SIHPL CPU are void in terms of section 45 of the South African Companies Act.
SIHPL and the Company are considering the implications of the judgment, including for SIHPL's proposed section 155 proposal, and will provide an update in due course.
The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited.
Stellenbosch, South Africa
2 July 2021
02.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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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