STEINHOFF INTERNATIONAL HOLDINGS N.V. - Update On Waiver Proposals And Commitment Not To Declare Or Pay Dividends On Or Prior To 30 June 2018
SNH 201802020033A
Update On Waiver Proposals And Commitment Not To Declare Or Pay Dividends On Or Prior To 30 June 2018
Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019
DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ART. 17 OF THE EU MARKET ABUSE
REGULATION (EU 596/2014, MAR)
Key Word(s): Dividend
Steinhoff – Update on waiver proposals and commitment not to declare or pay dividends on
or prior to 30 June 2018
Steinhoff International Holdings N.V. (the “Company” and with its subsidiaries, the “Group”)
Stellenbosch, 2 February 2018 – Further to the Company’s announcement on 18 January 2018,
the Group will shortly be recommending waivers of certain possible defaults under certain of
the Group’s existing European holding companies’ financing arrangements.
As part of the waiver proposals, the Company is likely to voluntarily agree not to declare, make
or pay any dividend for an interim period to 30 June 2018. The purpose of the waiver proposals
is to continue to create a window of stability until 30 June 2018 for the Group, to allow
management to focus on maintaining the trading performance of the individual business units
and the development of the Group’s strategic options plan.
While the Company is confident that it will receive sufficient support from its finance providers
to obtain these limited waivers, there can be no assurance that the Company will be able to
reach agreement with its finance providers on acceptable terms or at all.
Shareholders and other investors in the Company are advised to exercise caution when
dealing in the securities of the Group.
JSE Sponsor
PSG Capital
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