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STEINHOFF INTERNATIONAL HOLDINGS N.V. - Disclosure Of Inside Information Pursuant to Art. 17 Of The EU Market Abuse Regulation (EU 596/2014, MAR)

Release Date: 03/04/2018 17:24
Code(s): SNH     PDF:  
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Disclosure Of Inside Information Pursuant to Art. 17 Of The EU Market Abuse Regulation (EU 596/2014, MAR)

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

DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ART. 17 OF THE EU MARKET ABUSE
REGULATION (EU 596/2014, MAR)

Steinhoff – Hemisphere real estate valuation
Steinhoff International Holdings N.V. (the “Company” and with its subsidiaries, the “Group”)

Stellenbosch, 3 April 2018 – Following a valuation by CBRE Limited (“CBRE”) in respect of the
real estate interests of Hemisphere International Properties B.V. (an indirectly wholly owned
subsidiary of the Company) and its subsidiaries (such interests, the “Hemisphere Portfolio”), the
Company considers it likely that the consolidated net book value of the Hemisphere Portfolio
(once determined) will be materially lower than the €2.2 billion previously estimated by the
Company and disclosed on its website in February 2018.

CBRE valued the Hemisphere Portfolio as at 1 February 2018 at approximately €1.1 billion on
the basis of “fair value” according to IFRS 13 and assuming vacant possession which
disregarded internal leases to Company related entities and considered only leases between
an external third-party tenant and the relevant Hemisphere Group entity. The Company will
consider CBRE’s valuations in detail and will work with its auditors to determine the
consolidated net book value of the Hemisphere Portfolio for the purposes of publication of the
Company’s consolidated financial statements for 2017.

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, 3 April 2018

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