Steinhoff International Holdings N.V. : Update on waiver proposals and commitment not to declare or pay dividends on or prior to 30 June 2018
DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ART. 17 OF THE EU MARKET ABUSE REGULATION (EU 596/2014, MAR)
Key Word(s): Dividend
Steinhoff - Update on waiver proposals and commitment not to declare or pay dividends on or prior to 30 June 2018
Steinhoff International Holdings N.V. (the "Company" and with its subsidiaries, the "Group")
Stellenbosch, 2 February 2018 - Further to the Company's announcement on 18 January 2018, the Group will shortly be recommending waivers of certain possible defaults under certain of the Group's existing European holding companies' financing arrangements.
As part of the waiver proposals, the Company is likely to voluntarily agree not to declare, make or pay any dividend for an interim period to 30 June 2018. The purpose of the waiver proposals is to continue to create a window of stability until 30 June 2018 for the Group, to allow management to focus on maintaining the trading performance of the individual business units and the development of the Group's strategic options plan.
While the Company is confident that it will receive sufficient support from its finance providers to obtain these limited waivers, there can be no assurance that the Company will be able to reach agreement with its finance providers on acceptable terms or at all.
Shareholders and other investors in the Company are advised to exercise caution when dealing in the securities of the Group.
02-Feb-2018 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
650917 02-Feb-2018 CET/CEST