EQS-News

Steinhoff International Holdings N.V. : LAUNCH OF PLACING OF UP TO 240 MILLION SHARES IN PEPKOR HOLDINGS LIMITED

EQS-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous Steinhoff International Holdings N.V. : LAUNCH OF PLACING OF UP TO 240 MILLION SHARES IN PEPKOR HOLDINGS LIMITED 08.02.2023 / 16:15 CET/CEST The issuer is solely responsible for the content of this announcement. THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

LAUNCH OF PLACING OF UP TO 240 MILLION SHARES IN PEPKOR HOLDINGS LIMITED

 

Steinhoff International Holdings N.V. (“Steinhoff”, the “Company” and together with its subsidiaries, the “Group”) announces the launch of an accelerated bookbuild (the “Placing”) of up to 240 million ordinary shares of no par value in Pepkor Holdings Limited (“Pepkor”) (“Placing Shares”), representing approximately 6.5% of the current issued shares, subject to acceptable pricing being achieved.

 

Steinhoff, through an indirect wholly owned subsidiary, currently owns 51.0% of the issued shares in Pepkor. On successful conclusion of the Placing, and assuming Steinhoff places all of the Placing Shares, Steinhoff will retain ownership of approximately 44.5% of the issued shares in Pepkor. Assuming Steinhoff places all of the Placing Shares, the Placing will also increase the free float of Pepkor from approximately 49.0% to 55.5%.

 

Steinhoff continues to view Pepkor as a strategic investment for the Group and as such,  Steinhoff has agreed to a 90-day lock-up period, subject to customary exceptions and waiver by the Managers. Proceeds from the Placing will in due course be used to de-leverage Steinhoff’s capital structure.

 

As is customary in transactions of this nature, the Company reserves the right to increase the size of the Placing, subject to demand and pricing.

 

Information relating to the Placing

 

The Placing is offered to qualifying investors only (as set out in greater details in the disclaimer below) and does not and will not constitute, nor is it intended to constitute, an offer to the public to purchase any shares in any jurisdiction.