|STEINHOFF INTERNATIONAL HOLDINGS N.V. - Steinhoff International Holdings N.V. – Global Settlement Update
|20 May 2022 8:00
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. (“Steinhoff” and with its subsidiaries, the “Group”) and Steinhoff
International Holdings Proprietary Limited (“SIHPL”), provide the following update from the Stichting
Steinhoff Recovery Foundation (“SRF”) on the administration of claims filed by Market Purchase Claimants
in relation to Steinhoff’s settlement of 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 (together the “Global Settlement”).
As previously announced, the “Settlement Effective Date” (as referred to under the S155 Proposal and the
Composition Plan) occurred on 15 February 2022. The Bar Date (being the deadline until which Market
Purchase Claimants were able to validly lodge claims against Steinhoff) accordingly elapsed at 23:59:59 SAST
on Sunday 15 May 2022.
At the expiry of the Bar Date, the SRF, the Dutch foundation established to independently oversee the
administration of claims filed pursuant to the Global Settlement, informed Steinhoff that it had received in
excess of 43,000 claims in number, representing approximately EUR 3.2 billion in value.
Marcel Windt, Chairperson of the SRF said: “The SRF, with the assistance of the appointed Claims
Administrator, has been hard at work processing claims as and when they have been received and we shall
now proceed with finalisation of the administration and verification of all claims filed up until the Bar Date.
Subject to completion of the claims administration and verification process, the expiry of the timelines
prescribed in the Global Settlement and following the completion of certain assurance processes, it is the
SRF’s intention to commence with the distribution of proportionate cash recoveries, to claimants holding
valid and accepted claims, at the earliest opportunity in 2023.”
Steinhoff has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited.
Stellenbosch, 20 May 2022
Sponsor: PSG Capital
Date: 20-05-2022 08:00:00
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