DGAP-News: Steinhoff International Holdings N.V. : - GLOBAL SETTLEMENT UPDATE
Steinhoff International Holdings N.V. ("SIHNV" or the "Company", together with its subsidiaries, "Steinhoff" or the "Steinhoff Group") and the former South African holding company of the Steinhoff Group, Steinhoff International Holdings Proprietary Limited ("SIHPL"), provide the following update on Steinhoff's settlement of pending litigation proceedings pursuant to SIHNV's Dutch law composition plan ("Composition Plan"), SIHPL's South African law s155 scheme proposal ("S155 Proposal") and related contractual arrangements ("Global Settlement").
- Steinhoff International Holdings N.V. ("SIHNV" or the "Company", together with its subsidiaries, "Steinhoff" or the "Steinhoff Group") and the former South African holding company of the Steinhoff Group, Steinhoff International Holdings Proprietary Limited ("SIHPL"), provide the following update on Steinhoff's settlement of pending litigation proceedings pursuant to SIHNV's Dutch law composition plan ("Composition Plan"), SIHPL's South African law s155 scheme proposal ("S155 Proposal") and related contractual arrangements ("Global Settlement").
- Further steps will be taken in coming weeks and months in accordance with the terms of the Composition Plan, S155 Proposal and related contractual settlements.
- As a result of the occurrence of Settlement Effective Date, the pending legal proceedings against Steinhoff that have been compromised under the Global Settlement will now be withdrawn and discontinued.
- The South African liquidation petition against SIHNV brought by certain former owners of the Tekkie Town business has been withdrawn today.