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Steinhoff International Holdings N.V. reports a significant update regarding its Global Settlement of pending litigation. On January 24, 2022, the Western Cape High Court approved SIHPL's section 155 proposal, marking a key step in the settlement process. The Settlement Effective Date is anticipated on or around February 15, 2022. Preparations for implementation are underway, involving necessary payments and coordination with affected parties. Formal withdrawal of settled litigations will follow the effective date. Further information can be accessed on the company's designated websites.
Steinhoff International Holdings announced the adoption of a proposal by 100% of voting Financial Creditors and 95.42% of Contractual Claimants during recent meetings on September 6 and 10, 2021. The Proposal aims to address claims under section 155 of the Companies Act 71 of 2008. With the Proposal's adoption, the company will seek approval from the High Court of South Africa. Further details can be found at www.SteinhoffSettlement.com.
Steinhoff International Holdings announces virtual meetings for Scheme Creditors on 6 September 2021, due to COVID-19 restrictions. The meetings will facilitate discussions and votes on the proposed Amended Proposal. Financial Creditors will meet at 10h00, Contractual Claimants at 11h00, and Market Purchase Claimants at 13h00 (SAST). Verified Scheme Creditors will receive unique login credentials to participate. A third addendum to the Proposal will also be available for review.
Steinhoff International Holdings has announced the availability of the Second Addendum to its Proposal alongside the Amended Proposal. This follows the initial announcement on February 16, 2021, regarding the First Addendum and First Amended Proposal. The new materials can be accessed via designated websites or by completing a request form with the Registrar of the High Court of South Africa. Translations of the notice are also available upon request.
