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Steinhoff - Results Of The ZAR 1.5 Billion International Offering Of Convertible

Release Date: 22/06/2006 17:25
Code(s): SHF
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Steinhoff - Results Of The ZAR 1.5 Billion International Offering Of Convertible Bonds STEINHOFF INTERNATIONAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration no. 1998/003951/06) Ordinary share code: "SHF" ISIN: ZAE000016176 ("Steinhoff" or "the Issuer") THIS AMENDED ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO US PERSONS, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA THIS ANNOUNCEMENT APPEARS AS A MATTER OF RECORD ONLY. RESULTS OF THE ZAR 1.5 BILLION INTERNATIONAL OFFERING OF CONVERTIBLE BONDS Steinhoff announces that its International offering of ZAR 1.5 billion convertible bonds due 2013 (`the Bonds") has been successfully concluded and well over-subscribed. The terms of the Bonds have been fixed as follows: - issue size is ZAR 1.5 billion; - conversion price has been set to ZAR 27.40 per ordinary share, which represents a 32.5 per cent. premium over the volume weighted average price of an ordinary share of the Issuer on the JSE Limited (JSE) from launch to pricing; - the coupon (i.e. interest rate) has been set to 5.7 per cent per annum; - the Bonds are convertible into 54.74 million ordinary shares of the Issuer based on the above conversion price, which represents 4.8% of the Issuer"s current issued ordinary share capital. The Bonds are expected to be issued and settled on or about 30 June 2006. Approval in-principle has been received for the listing and trading of the Bonds on the Singapore Stock Exchange. By order of the Board Company Secretary Wynberg, Sandton 22 June 2006 Company Sponsor - PSG Capital Limited Date: 22/06/2006 05:25:32 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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