EQS-News

Steinhoff International Holdings N.V. : RESULTS OF THE PLACING OF 265 MILLION SHARES IN PEPKOR HOLDINGS LIMITED

EQS-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous Steinhoff International Holdings N.V. : RESULTS OF THE PLACING OF 265 MILLION SHARES IN PEPKOR HOLDINGS LIMITED 09.02.2023 / 07:00 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.

 

RESULTS OF THE PLACING OF 265 MILLION SHARES IN PEPKOR HOLDINGS LIMITED

 

Shareholders of Steinhoff International Holdings N.V. ("Steinhoff", the “Company” and together with its subsidiaries, the “Group”) are referred to Steinhoff’s announcement released on SENS on 8 February 2023 (the “Launch Announcement”) regarding the launch of an accelerated bookbuild (the “Placing”) of ordinary shares of no par value in Pepkor Holdings Limited (“Pepkor”) (“Placing Shares”).

 

Steinhoff announces the successful completion of the placement of 265 million Placing Shares, raising total gross proceeds of R4.9 billion (c. EUR257 million). Following strong demand, Steinhoff elected to increase the size of the Placing, which remained significantly oversubscribed at close. The Placing Shares were placed at a price of R18.50 per share, a 5.3% discount to the pre-launch Pepkor share price as at market close on 8 February 2023.

 

Accordingly, 265 million Placing Shares, constituting approximately 7.2% of total issued Pepkor Shares, will be allocated in the Placing. Following the conclusion of the Placing, the Company’s interest in Pepkor will reduce from 51.0% to approximately 43.8% and the free float of Pepkor will increase from approximately 49.0% to 56.2%.

 

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. Settlement of the Placing is expected to occur on Tuesday, 14 February 2023.