| DGAP-Ad-hoc: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous Steinhoff International Holdings N.V. : SEAG AND FINANCE HOLDING LOCK-UP AGREEMENT EFFECTIVE AND UPDATE ON HEMISPHERE RESTRUCTURING 20-Jul-2018 / 10:20 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ART. 17 OF THE EU MARKET ABUSE REGULATION (EU 596/2014, MAR) SEAG AND FINANCE HOLDING LOCK-UP AGREEMENT EFFECTIVE AND UPDATE ON HEMISPHERE RESTRUCTURING Steinhoff International Holdings N.V. (the "Company" and with its subsidiaries, the "Group") The Company is pleased to announce that the lock-up agreement (the "LUA") in connection with the restructuring of the financial indebtedness of the Company, Steinhoff Europe AG ("SEAG"), Steinhoff Finance Holding GmbH ("Finance Holding") and Stripes US Holding Incorporated ("SUSHI") (the "Restructuring") has today become effective in accordance with its terms. The parties to the LUA will now seek to implement the Restructuring within three months (subject to any agreed extension). Once the Restructuring has been implemented, the terms of the Restructuring (as set out in the term sheet included in the LUA) will remain in place for three years (subject to a maturity long stop date of 31 December 2021). Following an agreement being reached between Hemisphere International Properties B.V. ("Hemisphere") and advisors representing the third-party creditors of Hemisphere (the "Hemisphere Lenders") on the commercial terms for the restructuring of the financial indebtedness of Hemisphere (the "Hemisphere Restructuring"), the Company is pleased to announce that approximately 91% approval has been obtained from the Hemisphere Lenders to the terms of the Hemisphere Restructuring, subject to final documentation being agreed. The Company can also confirm that the requisite levels of support have been obtained to those terms of the Hemisphere Restructuring requiring approval under the terms of the LUA from the creditors of SEAG, SUSHI and Finance Holding. The next step with respect to the Hemisphere Restructuring will be for Hemisphere to negotiate with the Hemisphere Lenders the terms of a lock-up agreement with respect to the implementation of the Hemisphere Restructuring. Shareholders and other investors in the Company are advised to exercise caution when dealing in the securities of the Group. Stellenbosch, 20 July 2018 20-Jul-2018 CET/CEST 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. |
| Herengracht 466 | |
| 1017 CA Amsterdam | |
| Netherlands | |
| 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 |
| End of Announcement | DGAP News Service |
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706587 20-Jul-2018 CET/CEST
