STEINHOFF INTERNATIONAL HOLDINGS N.V. - Litigation Update
Litigation Update
Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019
Steinhoff Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1954/001893/06)
JSE Code: SHFF
ISIN: ZAE000068367
Steinhoff – Litigation update
Steinhoff International Holdings N.V. (“Steinhoff” or the “Company” and with its subsidiaries,
the “Group”)
Steinhoff International Holdings N.V. notes the market speculation regarding Steinhoff’s
continuing efforts to achieve a global settlement of the various litigation claims brought
against it in respect of legacy accounting issues announced on 5 December 2017.
Steinhoff has previously announced that it believes a settlement on terms acceptable to the
Steinhoff Board to be in the best interests of the Steinhoff Group and its stakeholders. This
strategic priority was reconfirmed in the Message from the Management Board that
accompanied the Annual Report for the year end 30 September 2019 published on 30 June
2020.
Accordingly, notwithstanding the challenging trading environment Steinhoff continues to
assess options, including total settlement value, consideration and terms, for a global
settlement of legacy litigation claims and Steinhoff will update the market in due course. It is
still uncertain whether any settlement proposal will be announced or whether any settlement
will be supported by the Group’s stakeholders.
JSE Sponsor: PSG Capital
Stellenbosch, 6 July 2020
Date: 06-07-2020 08:10:00
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