DGAP-News: Steinhoff International Holdings N.V. / Key word(s):
Miscellaneous
Steinhoff International Holdings N.V.: Litigation update
2020-07-06 / 08:10
The issuer is solely responsible for the content of this announcement.
*Steinhoff - Litigation update*
Steinhoff International Holdings N.V. ("Steinhoff" or the "*Company*" and
with its subsidiaries, the "Group")
Steinhoff International Holdings N.V. notes the market speculation regarding
Steinhoff's continuing efforts to achieve a global settlement of the various
litigation claims brought against it in respect of legacy accounting issues
announced on 5 December 2017.
Steinhoff has previously announced that it believes a settlement on terms
acceptable to the Steinhoff Board to be in the best interests of the
Steinhoff Group and its stakeholders. This strategic priority was
reconfirmed in the Message from the Management Board that accompanied the
Annual Report for the year end 30 September 2019 published on 30 June 2020.
Accordingly, notwithstanding the challenging trading environment Steinhoff
continues to assess options, including total settlement value, consideration
and terms, for a global settlement of legacy litigation claims and Steinhoff
will update the market in due course. It is still uncertain whether any
settlement proposal will be announced or whether any settlement will be
supported by the Group's stakeholders.
Stellenbosch, 6 July 2020
2020-07-06 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1086559
End of News DGAP News Service
1086559 2020-07-06
(END) Dow Jones Newswires
July 06, 2020 02:10 ET (06:10 GMT)
