EQS-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous
Steinhoff International Holdings N.V. : ANNOUNCEMENT OF VOTING RESULTS WHOA RESTRUCTURING PLAN

29.05.2023 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

STEINHOFF INTERNATIONAL HOLDINGS N.V. – ANNOUNCEMENT OF VOTING RESULTS WHOA RESTRUCTURING PLAN

The voting period in connection with the Dutch law restructuring plan (akkoord) (“WHOA Restructuring Plan”) of Steinhoff International Holdings N.V. (“SIHNV”) ended on 24 May 2023 at 23:59 CET. Unless defined otherwise, terms used in this announcement will have the meaning given to them in the WHOA Restructuring Plan.

SIHNV hereby announces the voting results following receipt of the:

  • certification letters of the Steinhoff Agents in connection with the voting results of the Class of Affected CPU Creditors;
  • the submitted voting forms of each Secured Intra-Group Creditor;
  • the submitted voting form of the Unsecured Intra-Group Creditor; and
  • the notarial record (notariële proces-verbaal-akte) from Mr. G. ter Braak, civil-law notary in Amsterdam, the Netherlands, in connection with the voting results of the Class of SIHNV Shareholders.

The voting results of the Class of Affected CPU Creditors are set out below

Guarantee Commitments with votes cast in favour of the WHOA Restructuring Plan (EUR) EUR 7,187,879,903.05
Guarantee Commitments with votes cast against the WHOA Restructuring Plan (EUR) EUR 0
Total Guarantee Commitments of voting Affected CPU Creditors (EUR) EUR 7,187,879,903.05

100 per cent of the Class of Affected CPU Creditors voted in favour of the WHOA Restructuring Plan. This is more than two-thirds of the Guarantee Commitments of the relevant members of the Class of Affected CPU Creditors that voted in respect of the WHOA Restructuring Plan. The Class of Affected CPU Creditors has therefore approved the WHOA Restructuring Plan.

The voting results of the Class of Secured Intra-Group Creditors are set out below

Each Secured Intra-Group Creditor has cast a vote in favour of the WHOA Restructuring Plan in respect of the claims as per the Voting Record Date which are set out in the table below.

Steinhoff Africa Holdings Proprietary Limited ZAR 4,320,689,089
Steenbok Newco 2A Limited EUR 719,810,632

100 per cent of the Class of Secured Intra-Group Creditors voted in favour of the WHOA Restructuring Plan. This is more than two-thirds of the total claims of the relevant members of the Class of Secured Intra-Group Creditors that voted in respect of the WHOA Restructuring Plan. The Class of Secured Intra-Group Creditors has therefore approved the WHOA Restructuring Plan.

The voting results of the Class of Unsecured Intra-Group Creditor are set out below

Ibex Retail Investments Limited as the sole Unsecured Intra-Group Creditor has cast a vote in favour of the WHOA Restructuring Plan in respect of its claim for the amount of EUR 150,141,367 as per the Voting Record Date.

100 per cent of the Class of Unsecured Intra-Group Creditor voted in favour of the WHOA Restructuring Plan. This is more than two-thirds of the total claims of the relevant members of the Class of Unsecured Intra-Group Creditor that voted in respect of the WHOA Restructuring Plan. The Class of Unsecured Intra-Group Creditor has therefore approved the WHOA Restructuring Plan

The voting results of the Class of SIHNV Shareholders are set out below

Nominal value of SIHNV Shares with votes cast in favour of the WHOA Restructuring Plan (EUR) EUR 1,761,239.03 (JSE: EUR 1,756,045.03 / FSE: EUR 5,194.00)
Number of SIHNV Shares with votes cast in favour of the WHOA Restructuring Plan 176,123,903 (JSE: 175,604,503 / FSE: 519,400)
Nominal value of SIHNV Shares with votes cast against the WHOA Restructuring Plan (EUR) EUR 15,213,859.91 (JSE: EUR 313,146.44 / FSE: EUR 14,900,713.47)
Number of SIHNV Shares with votes cast against the WHOA Restructuring Plan 1,521,385,991 (JSE: 31,314,644 / FSE: 1,490,071,347)
Total nominal value of SIHNV Shares of voting SIHNV Shareholders EUR 16,975,098.94 (JSE: EUR 2,069,191.47 / FSE: EUR 14,905,907.47)
Total number of SIHNV Shares of voting SIHNV Shareholders 1,697,509,894 (JSE: 206,919,147 / FSE: 1,490,590,747)

10.38 per cent of the Class of SIHNV Shareholders voted in favour of the WHOA Restructuring Plan. This is less than two-thirds of the nominal value of SIHNV Shares of the relevant members of the Class of SIHNV Shareholders that voted in respect of the WHOA Restructuring Plan. The Class of SIHNV Shareholders has therefore not approved the WHOA Restructuring Plan.

To conclude, the WHOA Restructuring Plan has been approved by three of the four Classes. The voting results will be included in the Voting Report. The Voting Report will be published on www.steinhoffinternational.com ultimately on Wednesday 31 May 2023.

As a next step, SIHNV will consider if it intends to request the Court to confirm the WHOA Restructuring Plan.

On 23 May 2023, a shareholder, SdK Schutzgemeinschaft der Kapitalanleger e.V., filed a petition with the Court to request the Court to appoint a restructuring expert (herstructureringsdeskundige) in accordance with Section 371 Dutch Bankruptcy Act (Faillissementswet). The Court hearing on such petition will take place on 1 June 2023. The petition does not affect the voting results.

Further updates and information will be made available on www.steinhoffinternational.com.

SIHNV has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited.

Stellenbosch, South Africa

29 May 2023


29.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Steinhoff International Holdings N.V.
cnr Adam Tas and Devon Valley Road
7600 Stellenbosch
South Africa
Phone: +27218080700
Fax: +27218080800
E-mail: investors@steinhoffinternational.com
Internet: www.steinhoffinternational.com
ISIN: NL0011375019
WKN: A14XB9
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1643573

 
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1643573  29.05.2023 CET/CEST

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