DGAP-News

Steinhoff International Holdings N.V. : NOTICE OF THE AVAILABILITY OF A s155 PROPOSAL - Seite 2

3.2 If eligible Scheme Creditors wish to attend and vote at the Scheme Meeting, they should take note of the Important Dates and Times posted on www.SteinhoffSettlement.com, provide the Claims Administrator with the necessary supporting documentation evidencing their status as a Scheme Creditor and, subject to the dispute resolution process contained in the Proposal, provide substantiation of the value of the claim they assert, and follow the process set out in the Proposal.

4 SUMMARY OF THE PROPOSAL

The Proposal contemplates a compromise between the Company and Scheme Creditors, defined in the Proposal, and who are envisaged to be settled in accordance with the terms of the Proposal.

4.1 The Proposal shall become effective if (i) it is adopted by the statutory required majorities of the Scheme Creditors; (ii) it is thereafter approved and sanctioned on a final and non-appealable basis by the High Court and (iii) all of the Suspensive Conditions are satisfied. Following the Proposal becoming effective, compromises will become effective and distributions will be made to the Scheme Creditors who are entitled thereto.

4.2 Scheme Creditors comprise what are defined in Annexure A to the Proposal as -

4.2.1 the Contractual Claimants;

4.2.2 the Financial Creditors; and

4.2.3 the SIHPL Market Purchase Claimants,

who are envisaged to be settled in accordance with the terms of the Proposal.

4.3 The Proposal shall become effective if (i) it is adopted by the statutory required majorities of the Scheme Creditors of the Company that participate in the filing and voting procedures; (ii) it is thereafter approved and sanctioned on a final and non-appealable basis by the High Court of South Africa as contemplated in section 155(7) of the Companies Act; and (iii) all of the Suspensive Conditions (as defined in Annexure A to the Proposal) applicable to the Proposal are satisfied. Following the Proposal becoming effective, compromises will become effective and distributions will be made to the Scheme Creditors who are entitled thereto in accordance with the provisions of the Proposal. If the Proposal does not become effective, it shall be of no legal force or effect, shall not constitute a compromise of any claims of Scheme Creditors, and shall not constitute an offer of any kind on the part of the Company capable of acceptance by Scheme Creditors.