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DGAP-News Steinhoff International Holdings N.V. : STEINHOFF GLOBAL SETTLEMENT - UPDATE ON SARB APPROVAL

DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Over Indebtedness
Steinhoff International Holdings N.V. : STEINHOFF GLOBAL SETTLEMENT - UPDATE ON SARB APPROVAL

18.10.2021 / 09:10
The issuer is solely responsible for the content of this announcement.


STEINHOFF GLOBAL SETTLEMENT - UPDATE ON SARB APPROVAL

Steinhoff International Holdings N.V. ("SIHNV" or the "Company" and together with its subsidiaries, "Steinhoff") together with Steinhoff International Holdings Proprietary Limited ("SIHPL") provide the following update with respect to the Steinhoff global litigation settlement proposal.

On 11 August 2021 the Company announced an increased offer and stated that:

"Following this announcement, SIHNV and SIHPL will proceed to seek further approval from the South Africa Reserve Bank/FINSURV for necessary approvals."

Steinhoff is pleased to announce that it has received approval from SARB/FINSURV for the cross-border transfers contemplated by the revised Steinhoff global settlement proposal. The approval is valid until 31 May 2022.

Louis du Preez, Chief Executive Officer, said:

"The FINSURV approval satisfies one of the remaining conditions to implementation of the global litigation settlement. The final material requirement is the approval of the High Court in South Africa to the SIHPL section 155 proposal. Given the overwhelming claimant support in favour of the settlement proposal, we are committed to implementing it as soon as possible."

The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited.

Stellenbosch, South Africa

18 October 2021



18.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Steinhoff International Holdings N.V.
cnr Adam Tas and Devon Valley Road
7600 Stellenbosch
South Africa
Phone: +27218080700
Fax: +27218080800
E-mail: investors@steinhoffinternational.com
Internet: www.steinhoffinternational.com
ISIN: NL0011375019
WKN: A14XB9
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1241313

 
End of News DGAP News Service

1241313  18.10.2021 

fncls.ssp?fn=show_t_gif&application_id=1241313&application_name=news&site_id=wallstreetSteinhoff International Holdings Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de



Nachrichtenquelle: EQS Group AG
18.10.2021, 09:10  |  463   |   |   

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DGAP-News Steinhoff International Holdings N.V. : STEINHOFF GLOBAL SETTLEMENT - UPDATE ON SARB APPROVAL DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Over Indebtedness Steinhoff International Holdings N.V. : STEINHOFF GLOBAL SETTLEMENT - UPDATE ON SARB APPROVAL 18.10.2021 / 09:10 The issuer is solely responsible for the content …

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