Wrap Text
Results Of Placing Offering
Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019
("Steinhoff" or the “Company”)
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA,
AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD
BE UNLAWFUL
RESULTS OF PLACING OFFERING
Shareholders are referred to the Steinhoff announcement released on SENS on Monday, 22 January
2018, wherein Steinhoff announced the launch of an accelerated bookbuild offering to place
approximately 29.5 million PSG Group Limited (“PSG Group”) ordinary shares (“Placing Shares”),
subject to the satisfaction of certain conditions including pricing acceptable to Steinhoff (the
“Placing”), to be carried out by PSG Capital Proprietary Limited (“PSG Capital”) and The Standard
Bank of South Africa Limited (“Standard Bank”) (each of PSG Capital and Standard Bank being a
“Bookrunner” and, together, the “Joint Bookrunners”).
The Company is pleased to announce that it has successfully priced and closed the Placing today,
22 January 2018.
Steinhoff has successfully placed the Placing Shares at a Placing price of R240.00 per Placing Share
(“Placing Price”) raising total proceeds of R7.1 billion. The book of demand was multiple times
oversubscribed. Accordingly, a total of 29,429,937 PSG Group ordinary shares, constituting
approximately 13.5% of PSG Group’s issued share capital (net of treasury shares), will be allocated in
terms of the Placing. The Placing Price represents a discount of 5.3% to the PSG Group closing price
on Friday, 19 January 2018.
Steinhoff would like to thank all participants that submitted bids and participated in the Placing.
Trade date is Tuesday, 23 January 2018 and Settlement of the Placing Shares is expected to occur
on Friday, 26 January 2018.
Stellenbosch
22 January 2018
Joint Bookrunner, Joint Global Coordinator and Sponsor
PSG Capital
Joint Bookrunner and Joint Global Coordinator
Standard Bank
Counsel to Steinhoff
Linklaters
Werksmans
Counsel to the Joint Bookrunners
Allen & Overy
Disclaimer
This announcement (the “Announcement”) is restricted and is not for release, publication or
distribution, in whole or in part, directly or indirectly, in or into the United States of America, Australia,
Canada, Japan or any other jurisdiction in which such release, publication or distribution would be
unlawful. This Announcement is for information purposes only, does not purport to be full or complete,
is subject to change and shall not constitute or form part of an offer or solicitation of an offer to
purchase or sell securities in the United States of America or any other jurisdiction nor shall there be
any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such jurisdiction. Any failure to comply
with these restrictions may constitute a violation of securities laws of such jurisdictions. No reliance
may be placed for any purpose on the information contained in this Announcement or its accuracy
or completeness.
The distribution of this Announcement and the offering for sale of the Placing Shares in certain
jurisdictions may be restricted by law. The Placing Shares may not be offered to the public in any
jurisdiction in circumstances which would require the preparation or registration of any prospectus or
offering document relating to the shares in such jurisdiction. No action has been taken by Steinhoff
or either Joint Bookrunner or any of their respective affiliates that would permit an offering of such
securities or possession or distribution of this Announcement or any other offering or publicity material
relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose
possession this Announcement comes are required by Steinhoff and the Joint Bookrunners to inform
themselves about, and to observe, such restrictions.
The Placing Shares have not been and will not be registered under the United States Securities Act
of 1933, as amended (the "Securities Act"), and may not be offered or sold, directly or indirectly, in
the United States of America, absent registration or an exemption from, or transaction not subject to,
the registration requirements of the Securities Act. There will be no public offer of the Placing Shares
in the United States of America or in any other jurisdiction.
Neither this Announcement nor the Placing constitutes or is intended to constitute an offer to the
public in South Africa in terms of the South African Companies Act 71 of 2008 (as amended) (“the
South African Companies Act"). In South Africa this Announcement is only directed at, and any
investment or investment activity to which this Announcement relates is available only to, and will be
engaged in only with, persons in South Africa who (i) fall within the categories of persons set out in
section 96(1)(a) of the South African Companies Act or (ii) who are persons who subscribe, as
principal, for Placing Shares at a minimum placing price of R1 000 000, as envisaged in section
96(1)(b) of the South African Companies Act.
In member states of the European Economic Area (“EEA”) which have implemented the Prospectus
Directive (each, a “Relevant Member State”), this Announcement and any offer if made
subsequently is directed exclusively at persons who are qualified investors within the meaning of the
Prospectus Directive (“Qualified Investors”). For these purposes, the expression Prospectus Directive
means Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/EU, to the extent
implemented in a Relevant Member State), and includes any relevant implementing measure in the
Relevant Member State.
In the United Kingdom this Announcement is only being distributed to, and is only directed at, and
any investment or investment activity to which this Announcement relates is available only to, and
will be engaged in only with, Qualified Investors who are (i) investment professionals falling within
Article 19(5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
“Order”); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) other
persons to whom it may otherwise be lawfully communicated (all such persons together being
referred to as “relevant persons”). Persons who are not relevant persons should not take any action
on the basis of this Announcement and should not act or rely on it.
This Announcement has been issued by and is the sole responsibility of Steinhoff. No representation
or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability
is or will be accepted by the Joint Bookrunners or by any of their respective affiliates or any of its or
their respective directors, employees, advisers or agents as to, or in relation to, the accuracy or
completeness of this Announcement or any other written or oral information made available to or
publicly available to any interested party or their advisers, and any liability therefore is expressly
disclaimed.
This Announcement does not purport to identify or suggest the risks (direct or indirect) which may be
associated with an investment in the Placing Shares. Any investment decision to acquire Placing
Shares pursuant to the Placing must be made solely on the basis of publicly available information.
Any such information has not been independently verified by the Joint Bookrunners.
Each of the Joint Bookrunners are acting for Steinhoff, and no one else, in connection with the Placing
and will not be responsible to anyone other than Steinhoff for providing the protections afforded to
the respective clients of the Joint Bookrunners, nor for providing advice to any other person in relation
to the Placing or any other matter referred to herein.
In connection with the sale of the Placing Shares, any of the Joint Bookrunners and any of their
respective affiliates acting as an investor for their own account may acquire a portion of the Placing
Shares as a principal position and in that capacity may retain, purchase or sell for their own account
such Placing Shares. In addition they may enter into financing arrangements and swaps with investors
in connection with which they may from time to time acquire, hold or dispose of Placing Shares. They
do not intend to disclose the extent of any such investment or transactions otherwise than in
accordance with any legal or regulatory obligation to do so.
Nothing in this Announcement should be viewed, or construed, as "advice", as that term is used in
the South African Financial Markets Act, 2012, and/or Financial Advisory and Intermediary Services
Act, 2002, by any of the Joint Bookrunners.
The Placing Shares to be sold pursuant to the Placing are not admitted to trading on any stock
exchange other than the JSE.
The information contained in this announcement is subject to change without notice and, except as
required by applicable law, Steinhoff does not assume any responsibility or obligation to update
publicly or review any of the forward-looking statements contained herein.
Date: 22/01/2018 05:25:00 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.
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