To view the PDF file, sign up for a MySharenet subscription.

STEINHOFF INTERNATIONAL HOLDINGS LD - Voluntary notice of redemption of ZAR 1,600,000,000 9.625 per cent convertible bonds due 2015

Release Date: 30/10/2013 11:51
Code(s): SHF     PDF:  
Wrap Text
Voluntary notice of redemption of ZAR 1,600,000,000 9.625 per cent convertible bonds due 2015

STEINHOFF INTERNATIONAL HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration Number 1998/003951/06)
Share code: SHF
ISIN: ZAE000016176
("Steinhoff" or "the Company")

 VOLUNTARY NOTICE OF REDEMPTION OF ZAR 1,600,000,000 9.625 PER
          CENT CONVERTIBLE BONDS DUE 2015 (the Bonds)

Shareholders are advised that, in accordance with Condition
7(b)(i) of the terms and conditions of the Bonds, the Company
intends to exercise its option to redeem all outstanding bonds
on 29 November 2013. The Bonds will be redeemed at their
accreted principal amount plus accrued but unpaid interest in
respect of such Bonds (the redemption). As such an optional
redemption notice has been despatched to all holders of the
Bonds.

Bondholders have the option, under the terms and conditions of
the Bonds, to exchange Bonds for ordinary shares in Steinhoff
by delivering a conversion notice to the Company. In order to
facilitate settlement, bondholders are requested to submit
their conversion notices by no later than 11:00am CET, on
Friday 22 November 2013, the due date for the establishment of
ordinary shareholders’ entitlement to receive the dividend
payable on 2 December 2013.

As at 29 October 2013:
-  the conversion price in respect of the Bonds was ZAR
   23.34 per ordinary share
-  The aggregate principal amount of Bonds outstanding was
   ZAR 1,416,050,000. To date the company has already
   received conversion notices from bondholders holding
   R183,950,000 of the Bonds; and
-  The closing price of the ordinary shares as derived from
   the JSE was ZAR 38.90 per Ordinary share

Accordingly, shareholders are advised that Steinhoff
International has submitted a provisional listing application
to the JSE Limited for the listing of up to 68,551,842 ordinary
shares (being the maximum number of ordinary shares that is
currently reserved for the Bonds) in respect of the potential
settlement of bondholders that may elect to exchange Bonds for
ordinary shares.


30 October 2013

By order of the Board
Steinhoff Secretarial Services Proprietary Limited
Company Secretary
Wynberg, Sandton


Sponsor: PSG Capital Proprietary Limited

Date: 30/10/2013 11:51:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story