EQS-News: Steinhoff International Holdings N.V.
/ Key word(s): Miscellaneous
Steinhoff International Holdings N.V. : PUBLICATION OF UPDATED WHOA RESTRUCTURING PLAN
04.05.2023 / 10:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
STEINHOFF INTERNATIONAL HOLDINGS N.V. – PUBLICATION OF UPDATED WHOA RESTRUCTURING PLAN
Further to the announcement on 26 April 2023, Steinhoff International Holdings N.V. (“SIHNV”) announces an update to its Dutch law restructuring plan (akkoord) (“WHOA Restructuring Plan”). Unless defined otherwise, terms used in this announcement will have the meaning given to them in the WHOA Restructuring Plan.
The updated WHOA Restructuring Plan will be published on . The addition of an extra day in the timetable (as described below) and the further technical amendments do not result in any material changes to the terms of the Transaction. The amendments relate to the following:
- the date as of which affected stakeholders must hold shares or claims (as applicable) to be admitted to vote on the WHOA Restructuring Plan (the “Voting Record Date”) has been set at 10 May 2023 (23:59 CET) (instead of 9 May 2023 (23:59 CET) as originally proposed);
- the period of time during which the affected stakeholders may cast their vote (the “Voting Period”) has been amended to 11 May 2023 (00:01 CET) until 24 May 2023 (23:59 CET) (instead of 10 May 2023 (00:01 CET) until 23 May 2023 (23:59 CET) as originally proposed);
- the ultimate date on which the report on the results of the voting will be distributed (the “Voting Report”) has been amended to 31 May 2023 (instead of 30 May 2023 as originally proposed); and
- the Implementation Steps have been amended and supplemented with respect to the funding of the subscription price of the Restructuring Plan Shares to allow for such funding to occur by way of a combination of third-party loans and a set-off of a portion of the CPU debt (instead of the relevant Implementation Steps only allowing for either the loans or the set-off as originally proposed).
The amendments set out above will result in consequential changes to the voting notices for Restructuring Plan Stakeholders (Schedule 7), the Draft Consent Request (Schedule 10), the Draft Dissolution EGM Notice (Schedule 12), the Implementation Deed and the Implementation Steps Chart.
The updated WHOA Restructuring Plan (including schedules thereto) and other relevant updated documents will be published on .
The updated indicative timetable for principal events in the WHOA process is as follows:
| Event |
Date and/or Time |
| Voting Record Date – the date as of which affected stakeholders must hold shares or claims (as applicable) to be admitted to vote on the WHOA Restructuring Plan. |
Wednesday 10 May 2023 at 23.59 CET |
| Voting Period – the period of time during which the affected stakeholders may cast their vote. |
Thursday 11 May 2023 at 00:01 CET until Wednesday 24 May 2023 at 23:59 CET |
| Voting Report – the ultimate date on which the report on the results of the voting will be distributed. |
Ultimately on Wednesday 31 May 2023 |
| Request for scheduling of Confirmation Hearing – the date on which the Dutch Court is requested (if SIHNV elects to do so) to schedule a hearing on the confirmation of the WHOA Restructuring Plan. |
At SIHNV’s election, as soon as practicable after distribution of the Voting Report.
|
| Confirmation Hearing – the date of the hearing regarding the confirmation of the WHOA Restructuring Plan. |
To be scheduled by the Dutch Court |
| Confirmation Order – the date on which the Dutch Court confirms the WHOA Restructuring Plan and the WHOA Restructuring Plan becomes binding and effective. |
To be scheduled by the Dutch Court |
| Completion Time - the date and time on which the last step for the implementation of the Transaction contemplated by the WHOA Restructuring Plan has been completed (the “Completion Time”). |
The date and time specified in the completion notice to be issued by SIHNV on its website promptly following the occurrence of (and on the same date as) the Completion Time |
In order for shareholders to ensure that they are recognised as valid holders of the relevant shares on the Voting Record Date, holders of shares listed on the FSE should ensure that they conclude any transactions two business days before the Voting Record Date (i.e. on Monday 8 May 2023) and holders of shares listed on the JSE should ensure that they conclude any transactions three business days before the Voting Record Date (i.e. on Friday 5 May 2023).
Further updates and information will be made available on .
SIHNV has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited.
Stellenbosch, South Africa
4 May 2023
04.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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