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STEINHOFF INTERNATIONAL HOLDINGS N.V. - Steinhoff Mattress Firm Financial Restructuring

Release Date: 22/11/2018 07:05
Code(s): SNH SHFF     PDF:  
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Steinhoff – Mattress Firm Financial Restructuring

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 – Mattress Firm Financial Restructuring
Steinhoff International Holdings N.V. (the “Company” and with its subsidiaries, the “Group”)

The Company refers to its announcement on 19 November 2018 in respect of the approval
by the US Bankruptcy Court of the pre-packaged chapter 11 plan filed by its subsidiary,
Mattress Firm, Inc. and its affiliates (together (“Mattress Firm”)).

The Company is pleased to announce that on 21 November 2018, Mattress Firm emerged
from chapter 11 after successfully completing its reorganisation pursuant to its approved
chapter 11 plan. In accordance with its chapter 11 plan, Mattress Firm emerged with
access to $525 million in exit financing and successfully exited approximately 660
underperforming stores.

Mattress Firm believes that the reorganisation implemented by the chapter 11 plan positions
it for long-term success for the benefit of all of its stakeholders.

Danie van der Merwe, acting CEO of the Company said,

“We are pleased that Mattress Firm has emerged from the Chapter 11 process within the
45 to 60 day timeframe initially targeted. This short process has enabled Mattress Firm to
strengthen its balance sheet and optimize its store footprint, and it emerges as a stronger
and more competitive company. Today’s announcement is a further positive step in the
wider Steinhoff restructuring process, which continues to make good progress.”

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, 22 November 2018

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