Hemisphere Restructuring: Documentation Update And Extension Of Long-Stop Date
Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
Steinhoff Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1954/001893/06)
JSE Code: SHFF
HEMISPHERE RESTRUCTURING: DOCUMENTATION UPDATE AND EXTENSION OF LONG-STOP DATE
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 (the “Hemisphere Restructuring”) of the financial indebtedness of Hemisphere
International Holdings B.V. (“Hemisphere”) (the “Hemisphere LUA”) had become effective in
accordance with its terms, and its subsequent related announcements of 6 August 2018, 21
August 2018 and 27 August 2018 regarding the extension of the long-stop date for executing
the material documents required to implement the Hemisphere Restructuring.
Hemisphere, the Company, Steinhoff Finance Holdings GmbH and the third-party creditors
under Hemisphere’s EUR 750m revolving credit facility (the “Hemisphere Lenders”) have
agreed the various documents required to implement the Hemisphere Restructuring.
The parties to the Hemisphere LUA are producing the final form documents and preparing for
the execution and completion formalities. The Company will provide a further update upon
formal completion of the Hemisphere Restructuring on or prior to 5 September 2018.
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, 4 September 2018
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