DGAP-Adhoc: Steinhoff International Holdings N.V. : STEINHOFF INTERNATIONAL HOLDINGS N.V. SETTLES THE FORMER TEKKIE TOWN OWNER CLAIMANTS" CLAIMS

2021. december 15., szerda, 15:30





DGAP-Ad-hoc: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous


Steinhoff International Holdings N.V. : STEINHOFF INTERNATIONAL HOLDINGS N.V. SETTLES THE FORMER TEKKIE TOWN OWNER CLAIMANTS" CLAIMS


15-Dec-2021 / 15:30 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ART. 17 OF THE EU MARKET ABUSE REGULATION (EU 596/2014, MAR)



STEINHOFF INTERNATIONAL HOLDINGS N.V. SETTLES THE FORMER TEKKIE TOWN OWNER CLAIMANTS" CLAIMS



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, provide the following update on Steinhoff"s settlement of ongoing and pending litigation proceedings.



As announced previously, certain former owners of the Tekkie Town business instituted claims against SIHNV (together the "Former Tekkie Town Owner Claimants"). One of those claimants, AJVH Holdings Proprietary Limited, and a related party, Sport City Trust, have attempted to oppose the application for the sanction of the S155 Proposal by arguing that they have SIHPL Market Purchase Claims (as defined in the S155 Proposal). In addition, the Former Tekkie Town Owner Claimants instituted liquidation proceedings (the "Liquidation Application") against SIHNV on 12 May 2021. The actions and applications by the Former Tekkie Town Owner Claimants have been supported, at various stages, by Jan Lamprecht.



On 15 December 2021, Steinhoff and the Former Tekkie Town Owner Claimants (including Mr Lamprecht and associated parties who have joined or supported their Liquidation Application and S155 opposition) have agreed that the Former Tekkie town Owner Claimants will (i) subject to the conditions of the agreement becoming satisfied, support, and withdraw their opposition to, the S155 Proposal and (ii) withdraw the Liquidation Application (and their opposition to the appeal pending before the South African Supreme Court of Appeal), subject to implementation of the Steinhoff global settlement ("Settlement Effective Date").



The key commercial terms of the settlement will take effect from and subject to the Settlement Effective Date, and are as follows:



(a) Steinhoff Africa Holdings Pty Limited ("SAHPL") will pay the Former Tekkie Town Owner Claimants ZAR500 million in aggregate, and will procure the delivery to the Former Tekkie Town Owner Claimants of 29.5 million Pepkor Holdings Limited ("PPH") shares subject to a lock-up of 180 calendar days following transfer, in order to acquire control of all Steinhoff-related claims alleged by the Former Tekkie Town Owner Claimants and their related parties; and



(b) the Former Tekkie Town Owner Claimants will accordingly transfer control of all their Steinhoff-related claims to SAHPL, so that the claims between them, Steinhoff, PPH, directors and officers and auditors (including the Liquidation Application) can be settled and withdrawn on terms that enable SAHPL and Steinhoff to benefit from the compensation allocated to the Former Tekkie Town Owner Claimants under the SIHNV composition plan.



More information about the foregoing can be found in a further announcement that will be issued by the Company today.



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



Stellenbosch, South Africa



15 December 2021



Contact:

Steinhoff International Holdings N.V.

Investor Relations

Phone: +27 21 808 0700

E-mail: investors@steinhoffinternational.com



 











15-Dec-2021 CET/CEST 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: 1258336





 
End of Announcement DGAP News Service




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