Steinhoff International Holdings N.V. : NOTICES IN TERMS OF SECTION 155 OF THE COMPANIES ACT 71 OF 2008

Rhea-AI Summary

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.

Positive

• 100% of Financial Creditors voted in favor of the Proposal.
• 95.42% of Contractual Claimants' value supported the Proposal.
• The Proposal has been adopted, allowing for the next steps in the legal process.

Negative

• None.

NOTICES IN TERMS OF SECTION 155 OF THE COMPANIES ACT 71 OF 2008
RELATING TO
STEINHOFF INTERNATIONAL HOLDINGS PROPRIETARY LIMITED ("the Company")

AMSTERDAM, NETHERLANDS / ACCESSWIRE / September 13, 2021 / Capitalised terms used herein and not otherwise defined shall have the meaning ascribed thereto in the compromise that has been proposed by the Company to Scheme Creditors (the " Proposal ") in accordance with section 155 of the Companies Act 71 of 2008, as amended (" Companies Act "), available at www.SteinhoffSettlement.com .

Part A - NOTICE OF RESULTS OF MEETINGS

1 Notice is hereby given to Scheme Creditors that the results of the virtual meetings (collectively " Meetings " and individually " Meeting ") held in terms of section 155(6) of the Companies Act for the purposes of considering and voting on the Proposal are as set out below.

2 At the Meeting of the Financial Creditors held on 6 September 2021, the Financial Creditors voted as follows:

2.1 100% in number of the Financial Creditors present and voting (all by proxy) voted in favour of the Proposal; and

2.2 100% in value of the Financial Creditors present and voting (all by proxy) voted in favour of the Proposal,

and accordingly the Proposal was adopted by the Financial Creditors.

3 At the Meeting of the Contractual Claimants held on 10 September 2021, the Contractual Claimants voted as follows:

3.1 100% in number of the Contractual Claimants present and voting in person or by proxy voted in favour of the Proposal. Of the 16 Contractual Claimants present (in person or by proxy) at the Meeting, 1 Contractual Claimant abstained from voting on the Proposal; and

3.2 100% in value of the Contractual Claimants present and voting in person or by proxy representing 95.42% in value of the claims of all Contractual Claimants voted in favour of the Proposal,

and accordingly the Proposal was adopted by the Contractual Claimants.

4 At the Meeting of the SIHPL Market Purchase Claimants held on 6 September 2021, the SIHPL Market Purchase Claimants voted as follows:

4.1 100% in number of the SIHPL Market Purchase Claimants present and voting in person or by proxy voted in favour of the Proposal. Of the 8,481 SIHPL Market Purchase Claimants present in person or by proxy at the Meeting, 1 SIHPL Market Purchase Claimant abstained from voting on the Proposal; and

4.2 100% in value of the SIHPL Market Purchase Claimants present and voting in person or by proxy representing 99.9999398054% in value of the claims of all SIHPL Market Purchase Claimants present at the Meeting voted in favour of the Proposal,

and accordingly the Proposal was adopted by the SIHPL Market Purchase Claimants.

5 A proposal as contemplated in section 155 of the Companies Act will have been adopted by the creditors, or the members of a relevant class of creditors, if it is supported by a majority in number representing at least 75% in value of the creditors or class, as the case may be, present and voting in person or by proxy at a meeting called for that purpose.

6 As each Class of Scheme Creditors has adopted the Proposal by a majority in number representing not less than 75% in value of each Class of Scheme Creditors, present and voting in person or by proxy at the Meetings, the Proposal has been Adopted as defined in the Proposal and as contemplated by section 155 of the Companies Act.

Part B - NOTICE OF THE COMPANY'S SANCTION APPLICATION

1 Notice is hereby given that, in light of the fact that the Proposal was Adopted at the Meetings, SIHPL has issued its application to the Western Cape Division of the High Court of South Africa for an Order approving and sanctioning the Proposal in accordance with section 155 of the Companies Act (the " Sanction Application ").

2 Electronic copies of the papers filed by SIHPL in the Sanction Application are available at www.SteinhoffSettlement.com under the 'Case Documents' tab and on www.steinhoffinternational.com.

Part C - TRANSLATIONS OF THIS NOTICE

Eine übersetzte Version dieses Hinweises wird auf Anfrage auf deutsch zur Verfügung gestellt (e-mail: info@SteinhoffSettlement.com).
Een vertaalde versie van deze mededeling zal op verzoek beschikbaar worden gesteld in het Nederlands (e-mail: info@SteinhoffSettlement.com).
Une version traduite en français de cette notice sera fournie sur demande (e-mail: info@SteinhoffSettlement.com ).
Se pondrá a disposición de los interesados una versión de este Aviso traducida al español (e-mail: info@SteinhoffSettlement.com ).
Mediante pedido, será disponibilizada uma versão traduzida do presente Aviso em português (e-mail: info@SteinhoffSettlement.com ).
Una versione tradotta del presente Avviso verrà resa disponibile su richiesta in Italiano (e-mail: info@SteinhoffSettlement.com ).
Tłumaczenie tej informacji na język polski zostanie udostępnione na prośbę (e-mail: info@SteinhoffSettlement.com ).
Pēc pieprasījuma tiks nodrošināta šī Paziņojuma tulkota versija latviešu valodā (e-mail: info@SteinhoffSettlement.com ).
Bu Bildirimin Türkçe çevirisi talep üzerine sağlanacaktır (e-mail: info@SteinhoffSettlement.com ).
Prevedena verzija ove Obavijesti bit će dostupna na zahtjev na hrvatski (e-mail: info@SteinhoffSettlement.com ).
En oversat version af denne meddelelse vil blive gjort tilgængelig efter anmodning på dansk (e-mail: info@SteinhoffSettlement.com ).
O versiune tradusă a acestei notificări va fi pusă la dispoziție la cerere în limba română (e-mail: info@SteinhoffSettlement.com ).
Преведена версия на тази декларация при поискване ще бъде достъпна на български (e-mail: info@SteinhoffSettlement.com ).
Selle teadaande eesti keelde tõlgitud versioon tehakse kättesaadavaks vastava taotluse esitamisel (e-mail: info@SteinhoffSettlement.com ).
En oversatt versjon av denne merknaden vil bli gjort tilgjengelig på forespørsel på Norsk (e-mail: info@SteinhoffSettlement.com ).
Prevedena različica tega obvestila je v slovenščini na voljo na zahtevo (e-mail: info@SteinhoffSettlement.com ).
Išverstas šio pranešimo variantas pareikalavus bus pateiktas lietuvių kalba (e-mail: info@SteinhoffSettlement.com ).
Preložená verzia tohto vyhlásenia bude na požiadanie k dispozícii v slovenčine (e-mail: info@SteinhoffSettlement.com ).
Vid behov kommer en översatt version av detta meddelande att göras tillgänglig på svensk (e-mail: info@SteinhoffSettlement.com ).
Ennek az értesítésnek a lefordított változata kérésre elérhetővé válik magyar nyelven (e-mail: info@SteinhoffSettlement.com ).
Þýdd útgáfa af þessari tilkynningu verður fáanleg samkvæmt beiðni á íslensku (e-mail: info@SteinhoffSettlement.com ).
本通知的翻译版本将根据所需提供简体中文版本 (e-mail: info@SteinhoffSettlement.com ).
Toleo lililotafsiriwa la Notisi hii litatolewa endapo litaombwa katika kiswahili (e-mail: info@SteinhoffSettlement.com ).
(e-mail: info@SteinhoffSettlement.com) ستتم إتاحة نسخة مترجمة من هذا اإلشعار بـ اللغة العربيةعند الطلب
.(email: info@SteinhoffSettlement.com) גרסה מתורגמת של הודעה זו תהיה זמינה לפי בקשה ב עברית
Η μετάφραση της παρούσας Γνωστοποίησης στα Ελληνικά θα είναι διαθέσιμη κατόπιν αιτήματος (e-mail: info@SteinhoffSettlement.com ).
Přeložená verze tohoto Oznámení bude na vyžádání k dispozici v čeština (e-mail: info@SteinhoffSettlement.com).

SOURCE: Steinhoff International Holdings N.V.

View source version on accesswire.com:
https://www.accesswire.com/663699/Steinhoff-International-Holdings-NV-NOTICES-IN-TERMS-OF-SECTION-155-OF-THE-COMPANIES-ACT-71-OF-2008

FAQ

What was the outcome of the meetings held by Steinhoff International on September 6 and 10, 2021?

The meetings resulted in 100% approval from Financial Creditors and 95.42% from Contractual Claimants for the Proposal.

What is the purpose of the Proposal adopted by Steinhoff International's creditors?

The Proposal is intended to address claims as per section 155 of the Companies Act 71 of 2008.

What steps will Steinhoff International take following the adoption of the Proposal?

Steinhoff International will submit a sanction application to the High Court of South Africa for approval of the Proposal.

Where can I find more information about the Proposal adopted by Steinhoff International?

Additional details are available at www.SteinhoffSettlement.com.