STEINHOFF INTERNATIONAL HOLDINGS PROPRIETARY LIMITED ("THE
COMPANY") NOTICE OF THE AVAILABILITY OF A s155 PROPOSAL
Notice is hereby given to inter alia certain creditors ("Scheme
Creditors") of Steinhoff International Holdings Proprietary Limited
("the Company"), of a proposed scheme of arrangement and compromise
(the "Scheme"), and of the availability of the proposal / Scheme
document (the "Proposal").
1 ACCESSING THE PROPOSAL AND ITS
ANNEXURES
The Proposal and its annexures are available at
www.SteinhoffSettlement.com, and by completing a request form from
the Registrar of the High Court of South Africa, Western Cape
Division, Cape Town.
2 FURTHER COMMUNICATIONS
If the Company communicates further with Scheme Creditors, it
shall do so:
2.1 on Steinhoff International Holdings
N.V.'s website ( www.steinhoffinternational.com);
2.2 at www.SteinhoffSettlement.com;
2.3 on the Stock Exchange News Service and
the equivalent service of the Frankfurt Stock Exchange;
2.4 by email to the legal representatives of
the active claimant groups, alternatively by email directly to the
active claimant groups;
2.5 by email to the known legal
representatives of Scheme Creditors, alternatively by email
directly to the known e-mail addresses of known Scheme Creditors;
and
2.6 otherwise in accordance with any
publication requirements as may be directed by the Western Cape
High Court.
3 ACTION REQUIRED
3.1 A Scheme Meeting will in due course be
convened by notice to Scheme Creditors eligible to attend and vote
at the Scheme Meeting.
3.2 If eligible Scheme Creditors wish to
attend and vote at the Scheme Meeting, they should take note of the
Important Dates and Times posted on www.SteinhoffSettlement.com,
provide the Claims Administrator with the necessary supporting
documentation evidencing their status as a Scheme Creditor and,
subject to the dispute resolution process contained in the
Proposal, provide substantiation of the value of the claim they
assert, and follow the process set out in the Proposal.
4 SUMMARY OF THE PROPOSAL
The Proposal contemplates a compromise between the Company and
Scheme Creditors, defined in the Proposal, and who are envisaged to
be settled in accordance with the terms of the Proposal.
4.1 The Proposal shall become effective if
(i) it is adopted by the statutory required majorities of the
Scheme Creditors; (ii) it is thereafter approved and sanctioned on
a final and non-appealable basis by the High Court and (iii) all of
the Suspensive Conditions are satisfied. Following the Proposal
becoming effective, compromises will become effective and
distributions will be made to the Scheme Creditors who are entitled
thereto.
4.2 Scheme Creditors comprise what are
defined in Annexure A to the Proposal as -
4.2.1 the Contractual Claimants;
4.2.2 the Financial Creditors; and
4.2.3 the SIHPL Market Purchase
Claimants,
who are envisaged to be settled in accordance with the terms of
the Proposal.
4.3 The Proposal shall become effective if
(i) it is adopted by the statutory required majorities of the
Scheme Creditors of the Company that participate in the filing and
voting procedures; (ii) it is thereafter approved and sanctioned on
a final and non-appealable basis by the High Court of South Africa
as contemplated in section 155(7) of the Companies Act; and (iii)
all of the Suspensive Conditions (as defined in Annexure A to the
Proposal) applicable to the Proposal are satisfied. Following the
Proposal becoming effective, compromises will become effective and
distributions will be made to the Scheme Creditors who are entitled
thereto in accordance with the provisions of the Proposal. If the
Proposal does not become effective, it shall be of no legal force
or effect, shall not constitute a compromise of any claims of
Scheme Creditors, and shall not constitute an offer of any kind on
the part of the Company capable of acceptance by Scheme
Creditors.
4.4 If you are a Scheme Creditor of SIHPL,
you are invited, in accordance with the terms of the Proposal, to
file a claim and participate in the voting procedures set out
therein, as you may be eligible to receive a payment based on the
Proposal.
4.5 The Proposal shall be put to a vote at a
virtual meeting or meetings, convened for such purpose.
4.6 The Proposal does not constitute, on any
basis whatsoever, an admission of any liability on the part of
SIHPL towards any party that has instituted legal proceedings
against SIHPL, or intends to institute such legal proceedings or
has threatened to institute such legal proceedings or who may
assert a claim of whatsoever nature and howsoever arising, in legal
proceedings.
4.7 The Scheme Creditors are encouraged to
contact their respective advisers regarding the filing and voting
procedures set out in the Proposal and, in addition, to consult
www.SteinhoffSettlement.com for further information.
4.8 As a number of the matters set out in the
Proposal are complex and technical in nature, all interested
persons are encouraged to consult with an independent legal
advisor, accountant, financial advisor or any other professional
advisor who may be of assistance to interested persons in respect
to the contents of the Proposal.
5 TRANSLATIONS OF THIS NOTICE
Translated versions of this notice in Arabic, Bulgarian,
Croatian, Czech, Danish, Dutch, Estonian, French, German, Greek,
Hebrew, Hungarian, Icelandic, Italian, Latvian, Lithuanian,
Simplified Chinese, Norwegian, Polish, Portuguese, Romanian,
Slovakian, Slovenian, Swahili, Swedish, Spanish and Turkish will be
made available upon request (e-mail:
info@SteinhoffSettlement.com).
Further notice is hereby given to inter alia certain creditors
of Steinhoff International Holdings Proprietary Limited, of an
addendum to and amendment of the Proposal (the "Addendum"), and of
the availability of (i) the Addendum and (ii) the Proposal as
amended by the Addendum, together with the annexures thereto (the
"Amended Proposal").
1 ACCESSING THE ADDENDUM AND THE AMENDED
PROPOSAL
The Proposal and its annexures, as well as the Addendum and the
Amended Proposal and its annexures, are available at
www.SteinhoffSettlement.com, and by completing a request form from
the Registrar of the High Court of South Africa, Western Cape
Division, Cape Town.
2 TRANSLATIONS OF THIS NOTICE
Translated versions of this notice in Arabic, Bulgarian,
Croatian, Czech, Danish, Dutch, Estonian, French, German, Greek,
Hebrew, Hungarian, Icelandic, Italian, Latvian, Lithuanian,
Simplified Chinese, Norwegian, Polish, Portuguese, Romanian,
Slovakian, Slovenian, Swahili, Swedish, Spanish and Turkish will be
made available upon request (e-mail:
info@SteinhoffSettlement.com).
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
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210216005792/en/
Name: Tyrrel Murray Tel: +27218080770 Email:
tyrrel.murray@steinhoff.co.za
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