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STEINHOFF INTERNATIONAL HOLDINGS LTD - IN
STEINHOFF INTERNATIONAL HOLDINGS LIMITED
STEINHOFF INTERNATIONAL HOLDINGS LTD
(Incorporated in the Republic of South Africa)
(Registration number 1998/003951/06)
JSE code: SHF
ISIN code: ZAE 000016176
("Steinhoff" or "the Company")
INTERNATIONAL EQUITY OFFERING IN STEINHOFF INTERNATIONAL HOLDINGS LIMITED
("STEINHOFF" OR THE "COMPANY")
Further to the announcement of 3 October 2003, Steinhoff is pleased to announce
that it has decided to proceed with an international offering of new ordinary
shares (the "International Offering"). Steinhoff received an excellent
reception from international investors which resulted in strong demand for its
shares. Consequently, the Company will issue 126,341,627 new ordinary shares to
international investors at a price of EUR0.84365 per share (the "Offer Price").
The Offer Price is based on a price of ZAR6.68 per share, representing a
discount of only 1.76% to the closing price on the JSE Securities Exchange South
Africa ("JSE") 2003 on 3 November 2003 and a discount of 2.66% to the weighted
average traded price of Steinhoff shares during the 30 business days preceding
the date that the issue price was determined and a ZAR/EUR exchange rate of
ZAR7.918 per Euro.
In addition, the Company has granted the underwriters an over-allotment option,
exercisable for up to 30 days after 11 November 2003, of 18,951,244 new ordinary
shares at the Offer Price. Should the over-allotment option be exercised in
full, the International Offering will result in an increase in Steinhoff"s
issued share capital of 15%.
Steinhoff intends to announce further details of the International Offering
after the transaction has closed.
Citigroup acted as Global Coordinator and Sole Bookrunner of the International
Offering by Steinhoff.
This announcement is not for publication, release or distribution in or into the
United States, Canada, Australia or Japan.
This announcement is not an offer for sale of securities in any jurisdiction
including the United States, Canada, Australia or Japan, nor shall it constitute
an offer to sell, or the solicitation of an offer to buy, and there shall not be
any sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. Securities may not be
offered or sold in the United States absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended.
This announcement is only for circulation to persons to whom it may lawfully be
issued in circumstances in which section 21(1) of the Financial Services and
Markets Act 2000 of the United Kingdom does not apply to the Company.
This announcement does not in any manner constitute an offer to subscribe for or
otherwise acquire securities in the Company.
Stabilisation/FSA.
Wynberg, Sandton
4 November 2003
Global Coordinator, Sole Bookrunner and Transactional Sponsor:
Citigroup
Co-Lead Manager:
Deutsche Bank
Co-Manager:
Commerzbank
Legal Advisor:
Hofmeyr Herbstein & Gihwala Inc
Reporting Accountants and Auditors:
Deloitte & Touche
Date: 04/11/2003 05:02:03 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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