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DGAP-News Steinhoff International Holdings N.V. : - FINANCIAL CREDITOR CONSENT OBTAINED FOR CERTAIN SETTLEMENTS

DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous
Steinhoff International Holdings N.V. : - FINANCIAL CREDITOR CONSENT OBTAINED FOR CERTAIN SETTLEMENTS

28.12.2021 / 06:30
The issuer is solely responsible for the content of this announcement.


STEINHOFF INTERNATIONAL HOLDINGS N.V. - FINANCIAL CREDITOR CONSENT OBTAINED FOR CERTAIN SETTLEMENTS

Steinhoff International Holdings N.V. ("SIHNV" or the "Company", together with its subsidiaries, "Steinhoff" or the "Steinhoff Group") and the former South African holding company of the Steinhoff Group, Steinhoff International Holdings Proprietary Limited ("SIHPL"), provide the following update on Steinhoff's global settlement of ongoing and pending litigation proceedings (the "Global Litigation Settlement").

Update on Financial Creditor Consent to Certain Settlements

Steinhoff refers to the public announcements made on 15 December 2021.

On 15 December 2021 Steinhoff announced that Trevo Capital Limited ("Trevo") and certain other SIHPL non-qualifying claimants had confirmed their conditional support for the S155 Proposal subject to the satisfaction of certain suspensive conditions on or before 11 January 2022, unless waived or extended by the parties ("SIHPL NQC Settlement"). One of the conditions to support was that Steinhoff obtained the requisite level of support from its financial creditors for the SIHPL NQC Settlement.

On 15 December 2021 Steinhoff separately announced that parties including the former owners of the Tekkie Town business had agreed, amongst other things, to withdraw their opposition to the S155 Proposal and to withdraw their liquidation application against SIHNV ("TT Settlement"), subject respectively to Steinhoff obtaining requisite financial creditor support for the TT Settlement and the implementation of the Global Litigation Settlement. Both the SIHPL NQC Settlement and the TT Settlement are subject to the Global Litigation Settlement being implemented by 30 June 2022.

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DGAP-News Steinhoff International Holdings N.V. : - FINANCIAL CREDITOR CONSENT OBTAINED FOR CERTAIN SETTLEMENTS DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous Steinhoff International Holdings N.V. : - FINANCIAL CREDITOR CONSENT OBTAINED FOR CERTAIN SETTLEMENTS 28.12.2021 / 06:30 The issuer is solely responsible for the …

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