Steinhoff International/ Steinhoff Investment - Private placement of perpetual
preference shares by Steinhoff Investment
Steinhoff International Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1998/003951/06)
Share code: SHF ISIN: ZAE000016176
(`Steinhoff International`)
STEINHOFF INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1954/001893/06)
Share code: SHFF ISIN ZAE000068367
(A wholly-owned subsidiary of Steinhoff International)
(`Steinhoff Investment`)
PRIVATE PLACEMENT OF PERPETUAL PREFERENCE SHARES BY STEINHOFF INVESTMENT
PSG Capital is authorised to announce that a private placement by Steinhoff
Investment, a wholly-owned subsidiary of Steinhoff International, of variable
rate, cumulative, non-redeemable, non-participating preference shares with a par
value of 0,1 cent each (`preference shares`) at a subscription price of R100 per
share (`the private placement`), has been successfully concluded. The private
placement closed on Monday, 6 June 2005.
Irrevocable undertakings amounting to R650 000 000 have been received from
selected financial institutions and other investors in terms of the private
placement to subscribe for preference shares.
All of the preference shares have been allocated at a coupon rate of 75% of the
prime overdraft lending rate of Absa Bank Limited from time to time in
accordance with the allocation mechanism as set out in the private placement
memorandum supplied to investors and as overseen by independent auditors.
It is anticipated that the preference shares will be listed from the
commencement of business on or about Wednesday, 15 June 2005 on the JSE
Securities Exchange South Africa (`JSE`) in the `Specialist Securities -
Preference Shares` sector. Application has been made to the JSE for such
listing.
It is intended that an abridged pre-listing statement, containing particulars of
the private placement and Steinhoff Investment, will be published on SENS on
Friday, 10 June 2005 and in the press on Monday, 13 June 2005 in accordance with
the Listings Requirements of the JSE.
The directors of Steinhoff International and Steinhoff Investment wish to thank
all investors for their support during the placement process.
Johannesburg
8 June 2005
Corporate adviser and sponsor Legal adviser
TUGENDHAFT WAPNICK BAMCHETTI & PARTNERS
Date: 09/06/2005 07:14:14 AM
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