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STEINHOFF INTERNATIONAL HOLDINGS N.V. - Financial Restructuring

Release Date: 29/03/2019 17:30
Code(s): SNH SHFF     PDF:  
Wrap Text
Financial Restructuring

Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019

Steinhoff Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1954/001893/06)
JSE Code: SHFF
ISIN: ZAE000068367

FINANCIAL RESTRUCTURING – APPROVAL FOR EXTENSION OF LONG-STOP DATE UNDER THE SEAG
CVA, THE SFHG CVA AND THE LOCK-UP AGREEMENT

Steinhoff International Holdings N.V. (the “Company” and with its subsidiaries, the “Group”)

Defined terms used but not otherwise defined in this announcement shall have the same meaning as
in the company voluntary arrangement proposed in relation to SEAG (the "SEAG CVA") and/or the
company voluntary arrangement proposed in relation to SFHG (the "SFHG CVA") (as applicable and
as the context dictates).

As previously announced, on 15 March 2019 SEAG and SFHG launched CVA Consent Request No. 1
which proposed an extension of the CVA Long-Stop Date to 31 May 2019, provided that if a full, final
and non-appealable determination of the application issued by LSW GmbH challenging the SEAG
CVA has not occurred by 12.00pm (London time) on 18 April 2019, the CVA Long-Stop Date shall be
further automatically extended to 28 June 2019.

The requisite majority of creditors of SEAG and SFHG have provided their consent to the extension
of the CVA Long-Stop Date set out in CVA Consent Request No. 1. The CVA Long-Stop Date has
therefore been extended to 31 May 2019, subject to the automatic extension detailed above. The
approval of CVA Consent Request No. 1 will consequently extend the Long-Stop Date as defined in
and as applicable to the Lock-Up Agreement to be the same as the extended CVA Long-Stop Date.

The Supervisors and SFHG Supervisors will update the CVA Creditors and SFHG Creditors (as
applicable) in due course pursuant to the terms of the CVA and the SFHG CVA (as applicable).

It remains the objective of the Group to complete the Restructuring as soon as possible.

Shareholders and other investors in the Company are advised to exercise caution when dealing in
the securities of the Group.

JSE Sponsor: PSG Capital
Stellenbosch, 29 March 2019

Date: 29/03/2019 05:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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