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DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous
PIC SETTLEMENT SUPPORT AND JURISDICTION RULING
Steinhoff International Holdings N.V. ("SIHNV" or the "Company" and together with its other subsidiaries, "Steinhoff" or the "Steinhoff Group provide the following updates.
PIC settlement support agreement
The Public Investment Corporation ("PIC") and SIHNV and Steinhoff International Holdings (Pty) Ltd ("SIHPL") have entered into a settlement support agreement under which the PIC on behalf of itself and its clients including the Government Employees Pension Fund, have agreed to support the Steinhoff global settlement proposal.
Jurisdiction ruling in Tekkie Town/SIHNV Liquidation Application
In respect of the liquidation application ("the application") launched by AJVH Holdings and 4 others ("the applicants") against SIHNV in the Cape Town High Court certain preliminary matters were set down for initial hearing over the period 1 to 3 September 2021 including -
1 an application by the parties described as SIHNV Financial Creditors to intervene in and oppose the provisional liquidation application launched by the applicants;
2 an application by the Dutch Court appointed joint administrators of SIHNV to be -
2.1 recognised as court appointed administrators of SIHNV by virtue of the orders of the Amsterdam District Court of 15 and 18 February 2021 and by virtue of such recognition to be granted such authority to institute and defend proceedings in the Republic of South Africa including the application;
2.2 granted leave to intervene in the application;
3 an application raised in limine that the Court does not have jurisdiction to wind up SIHNV by virtue of the fact that it is an external company
(collectively "the interlocutory and in limine matters").
The Court's Order with respect to the interlocutory and in limine matters was handed down today. The Court has dismissed the interlocutory and in limine matters with costs.
For the avoidance of doubt, the Court has made no finding on the merits of the application, and has issued no Order in that regard.
The main proceedings are set down to continue on 9, 14 and 15 September 2021.
The administrators have delivered a request for the Court's reasons.
SIHNV is considering its position following the order handed down this afternoon.
The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited.
Stellenbosch, South Africa
06.09.2021 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
EQS News ID:
End of News
DGAP News Service