STEINHOFF INTERNATIONAL HOLDINGS N.V. - Hemisphere Lock-Up Agreement: Extension Of Long-Stop Date And Update On Accessions

Release Date: 06/08/2018 09:30
Code(s): SNH SHFF
 
Wrap Text
Hemisphere Lock-Up Agreement: Extension Of Long-Stop Date And Update On Accessions

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
(“Steinhoff Investments”)

HEMISPHERE LOCK-UP AGREEMENT: EXTENSION OF LONG-STOP DATE AND UPDATE ON
ACCESSIONS

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

The Company refers to its announcement of 26 July 2018 (the “July Announcement”) noting
that the terms of a lock-up agreement with respect to the implementation of the potential
restructuring of the financial indebtedness of Hemisphere International Holdings B.V.
(“Hemisphere”) (the “Hemisphere LUA”) had become effective in accordance with its terms.

Further to the July Announcement, the Company is pleased to announce that 100% in value
of the third-party creditors under Hemisphere’s EUR750mm revolving credit facility (the
“Hemisphere Lenders”) have now entered into the Hemisphere LUA.

The Company and the Hemisphere Lenders are continuing discussions on implementation of
the restructuring of the financial indebtedness of Hemisphere (the “Hemisphere
Restructuring”). The parties to the Hemisphere LUA are now seeking to execute the material
documents required to implement the Hemisphere Restructuring by 17 August 2018.

The Hemisphere LUA has been amended accordingly and the relevant amendment
agreement is available at www.lucid-is.com/steinhoff. Stakeholders should seek their own
legal and financial advice should they have any queries in relation to the contents.

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, 6 August 2018

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