DGAP-Adhoc
Steinhoff International Holdings N.V. :
DGAP-Ad-hoc: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ART. 17 OF THE EU MARKET ABUSE REGULATION (EU 596/2014, MAR) |
UPDATE ON STEINHOFF GLOBAL SETTLEMENT PROGRESS
Steinhoff International Holdings N.V. ("SIHNV" or the "Company", together with its subsidiaries, "Steinhoff" or the "Steinhoff Group") announces the following update on implementation of its proposal to resolve the various multi-jurisdictional legacy litigations and claims against the Steinhoff Group, including those against former South African holding company Steinhoff International Holdings Proprietary Limited ("SIHPL").
Update on D&O Insurers and certain former D&Os support Steinhoff Global Settlement
In addition, SIHNV and SIHPL announce that they have reached an agreement with certain insurance companies underwriting Steinhoff's (primary and excess) Directors and Officers insurance policy (the "D&O Insurers") and certain former directors and officers who have worked for or been associated with a Steinhoff Group company (the "Settling D&Os"). The Settling D&Os include: S. Booysen, D. Brink, C. Daun, H. Ferreira, T. Guibert, D. Konar, A. Krüger-Steinhoff, (heirs of) M. Lategan, J. Mouton, J. Nel, H. Odendaal, D. Schreiber, F. Sonn, H. Sonn, B. Steinhoff, P. van den Bosch, D. van der Merwe, J. van Zyl, C. Wiese and J. Wiese. For the avoidance of doubt, the Settling D&Os do not include M. Jooste, B. La Grange, S. Grobler and S. Schmidt.
As a result, the previously announced bilateral agreement with Deloitte Accountants B.V. and Deloitte & Touche South Africa (together: "Deloitte") dated 14 February 2021, will be replaced by a comprehensive Steinhoff Settlement Support Agreement ("SSSA") entered into by inter alia SIHNV, SIHPL, Deloitte, the D&O Insurers and the Settling D&Os.