Steinhoff International Holdings N.V. : UPDATES ON PROCESS
STEINHOFF INTERNATIONAL HOLDINGS N.V. - UPDATES ON PROCESS
Stellenbosch, 10 December 2017
Reference is made to the announcement released on 8 December 2017, in which the Steinhoff International Holdings N.V. Group ("the Group") announced the rescheduling of its regular annual lender meeting in London from 11 December to 19 December 2017. In advance of this meeting, the Group wishes to provide the following updates:Appointment of an International Advisory Team
The Group announces that Moelis & Company ("Moelis") and AlixPartners have been appointed as independent financial advisor and operational advisor respectively with immediate effect. Moelis will support and advise on the Group's discussions with its lenders, while AlixPartners will assist on liquidity management and operational measures.
Immediate Stabilisation The Group is currently fully focussed on safeguarding operational liquidity to continue funding existing operations throughout its various subsidiaries. In this context, the Group is asking for and requires continued support in relation to existing facilities from all its lenders to achieve an immediate stabilisation of the Group's financing.
Lender Meeting The purpose of the meeting will be for the Group to provide an update on its ongoing operational and financial situation. An agenda for the meeting will be circulated ahead of 19 December 2017.
Caution Shareholders and other investors in the company are advised to exercise caution when dealing in the securities of the group.
10-Dec-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Steinhoff International Holdings N.V. Herengracht 466 1017 CA Amsterdam
Netherlands Phone: +27218080700 Fax: +27218080800 E-mail: email@example.com Internet: www.steinhoffinternational.com ISIN: NL0011375019 WKN: A14XB9 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News Service
637443 10-Dec-2017 CET/CEST