DGAP-News Steinhoff International Holdings N.V. : - PROVISIONAL LIQUIDATION APPLICATION
DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous
STEINHOFF INTERNATIONAL HOLDINGS N.V. - PROVISIONAL LIQUIDATION APPLICATION
Steinhoff International Holdings N.V. ("SIHNV" or the "Company", together with its subsidiaries, "Steinhoff" or the "Steinhoff Group") notes recent press commentary regarding a filing in the South African courts of an application for inter alia the provisional liquidation of SIHNV.
On 12 May 2021 entities affiliated with the former shareholders of Tekkie Town (Pty) Ltd ("Tekkie Town Claimants") filed the aforementioned application in the Western Cape Division of the High Court of South Africa. The Tekkie Town Claimants have requested the matter be heard on an urgent basis on 24 May 2021.
As previously noted, SIHNV is a public limited liability company incorporated under the laws of the Netherlands and is registered with the Trade Register in the Netherlands under number 63570173, with tax residency in South Africa. On 15 February 2021, the Company announced that it had resolved to lodge an application for a Dutch "suspension of payments" procedure ("Dutch SoP") with the Amsterdam District Court to implement its proposal to settle the multi-jurisdictional legacy claims against it. The Amsterdam District Court approved the application on the same day and appointed two administrators, namely Mr. F. Verhoeven and Mr. C.R. Zijderveld.
SIHNV will oppose the application by the Tekkie Town Claimants and will vigorously defend any attempt to disrupt the proposed global settlement and the Company's ongoing Dutch SoP and the proper forum of the Dutch courts. The global settlement proposal currently under consideration by the Dutch court incorporates provisions to address the disputed claims of the Tekkie Town Claimants against the Company which relate to transactions between the Tekkie Town Claimants and the Company in 2016.
Further updates and information relating to the Steinhoff Group global settlement, including information for any claimants, are available at: www.SteinhoffSettlement.com.
The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited.
Stellenbosch, South Africa
13 May 2021
13.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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|Company:||Steinhoff International Holdings N.V.|
|cnr Adam Tas and Devon Valley Road|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1196377|
|End of News||DGAP News Service|
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