|STEINHOFF INVESTMENT HOLDINGS LIMITED - Steinhoff International Holdings N.V. – Global Settlement Update
|15 February 2022 17:00
Steinhoff International Holdings N.V. – Global Settlement Update
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
STEINHOFF INTERNATIONAL HOLDINGS N.V. – GLOBAL SETTLEMENT UPDATE
Steinhoff International Holdings N.V. (“SIHNV” or the “Company”, together with its subsidiaries,
“Steinhoff” or the “Steinhoff Group”) and the former South African holding company of the
Steinhoff Group, Steinhoff International Holdings Proprietary Limited (“SIHPL”), provide the
following update on Steinhoff’s settlement of pending litigation proceedings pursuant to
SIHNV’s Dutch law composition plan (“Composition Plan”), SIHPL’s South African law s155
scheme proposal (“S155 Proposal”) and related contractual arrangements (“Global
Steinhoff refers to its announcement earlier today that Settlement Effective Date for the
purpose of the Global Settlement is 15 February 2022 and confirms that the following steps
were taken today pursuant to the Global Settlement:
• payment of the settlement funds required under the Composition Plan and the S155
Proposal to Stichting Steinhoff Recovery Foundation, which will hold the settlement
funds for the benefit of Market Purchase Claimants and the SIHNV contractual
claimants which will be distributed following the Bar Date;
• payment or initiation of payment arrangements in respect of Steinhoff’s contribution to
the costs of the ACGs as required under the Composition Plan;
• payment of EUR66m to the Hemisphere Facility Agent for application in discharge of
an equivalent amount of indebtedness of Hemisphere International Properties BV; and
• payments of cash and initiation of transfers of Pepkor Holdings Limited shares to the
SIHPL contractual claimants that are required to be paid or transferred on or around
Settlement Effective Date.
Further steps will be taken in coming weeks and months in accordance with the terms of the
Composition Plan, S155 Proposal and related contractual settlements.
As a result of the occurrence of Settlement Effective Date, the pending legal proceedings
against Steinhoff that have been compromised under the Global Settlement will now be
withdrawn and discontinued. The South African liquidation petition against SIHNV brought by
certain former owners of the Tekkie Town business has been withdrawn today.
The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on
the JSE Limited.
Stellenbosch, South Africa
15 February 2022
JSE Sponsor: PSG Capital
Date: 15-02-2022 05:00:00
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