Steinhoff International Holdings N.V. : FINANCIAL RESTRUCTURING - APPROVAL OF CVA CONSENT REQUEST NO. 3 AND EXTENSION OF LONG-STOP DATE UNDER THE SEAG CVA, THE SFHG CVA AND THE LOCK-UP AGREEMENT

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DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous

30.05.2019 / 17:10
The issuer is solely responsible for the content of this announcement.


FINANCIAL RESTRUCTURING - APPROVAL OF CVA CONSENT REQUEST NO. 3 AND EXTENSION OF LONG-STOP DATE UNDER THE SEAG CVA, THE SFHG CVA AND THE LOCK-UP AGREEMENT

Steinhoff International Holdings N.V. (the 'Company' and with its subsidiaries, the 'Group')

Defined terms used but not otherwise defined in this announcement shall have the same meaning as in the company voluntary arrangement proposed in relation to Steinhoff Europe AG ('SEAG') and approved by the CVA Creditors on 14 December 2018 as amended from time to time (the 'SEAG CVA') and/or the company voluntary arrangement proposed in relation to Steinhoff Finance Holding GmbH ('SFHG') and approved by the SFHG Creditors on 14 December 2018 as amended from time to time (the 'SFHG CVA') (as applicable and as the context dictates). The documentation relating to the SEAG CVA and SFHG CVA can be downloaded at LINK  .

As previously announced, on 17 May 2019, SEAG and SFHG launched CVA Consent Request No. 3, requesting consent for certain amendments and modifications to the SEAG CVA and SFHG CVA (as applicable) and the relevant Restructuring Documents. CVA Consent Request No. 3 also sought consent to amend the definition of CVA Long-Stop Date and sought the approval of the relevant creditors to waive an Implementation Condition relating to certain Australian tax clearances.

The requisite majorities of creditors of SEAG and SFHG have provided their consent to the amendments and modifications and the waiver as set out in CVA Consent Request No. 3.

Accordingly, the amendments and modifications and the waiver have become effective, including the extension of the CVA Long-Stop Date to 5:00pm (London time) on 30 June 2019. The approval of CVA Consent Request No. 3 will consequently extend the Long-Stop Date as defined in and as applicable to the Lock-Up Agreement to 5:00pm (London time) on 30 June 2019.

Further updates will be provided in due course as the Group continues with the implementation of the Restructuring. It remains the objective of the Group to complete the Restructuring as soon as possible.

Shareholders and other investors in the Company are advised to exercise caution when dealing in the securities of the Group.

Stellenbosch, 30 May 2019



30.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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