SHF - Steinhoff - Termination of discussions regar
SHF
SHF
SHF - Steinhoff - Termination of discussions regarding the proposed
merger of Steinhoff and JD Group Limited ("JDG")
STEINHOFF INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/003951/06)
Share code: SHF
ISIN:ZAE000016176
(Steinhoff)
TERMINATION OF DISCUSSIONS REGARDING THE PROPOSED MERGER OF
STEINHOFF AND JD GROUP LIMITED ("JDG")
Further to the joint announcement released by Steinhoff and JDG
(collectively, the Companies) on SENS on Friday, 16 March 2007 and
published in the press on Monday, 19 March 2007, wherein it was
announced that Steinhoff had submitted an offer to the JDG board of
directors, of its intention to acquire the entire issued ordinary
share capital of JDG in exchange for the issue of new Steinhoff
ordinary shares (proposed merger), Steinhoff shareholders are
referred to the JDG announcement released on SENS on Tuesday, 29
May, 2007. The proposed merger would have been implemented by way
of a scheme of arrangement in terms of section 311 of the Companies
Act, No 61, of 1973, as amended (the scheme).
Steinhoff shareholders are hereby accordingly advised that,
although the Steinhoff shareholders which Steinhoff approached
indicated their support for the proposed merger, due to a lack of
support from JDG shareholders for the proposed merger, the Board of
directors of JDG have decided, in conjunction with the Board of
directors of Steinhoff, to terminate merger discussions with
immediate effect and not to proceed with the scheme.
The existing relationship between the Companies will not be
affected in any way by the termination of the merger discussions.
Johannesburg
29 May 2007
Investment bank and transaction Sponsor to Steinhoff
sponsor to Steinhoff
Investec Bank logo PSG logo
Date: 29/05/2007 16:47:32 Produced by the JSE SENS Department.
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