determination. SIHPL MPCs (and SIHNV MPCs and SIHNV contractual claimants under the Dutch SoP Scheme proposal) with disputed claim determinations will receive their settlement distributions as soon as reasonably practicable after a binding determination in respect of their claim determination has been made. Next Steps for Claimants In addition to the information provided below, claimants are encouraged to keep up to date on key dates and steps required for both the Dutch SoP Scheme Proposal and the S155 Scheme Proposal by regularly referring to www.SteinhoffSettlement.com. The Dutch SoP Scheme Proposal and S155 Scheme Proposal are complex documents and claimants should obtain independent legal, financial and tax advice in relation to the proposals and the claim administration. None of the Steinhoff entities nor their advisers are providing any advice to the claimants or any other party. SIHNV Dutch SoP Claims Claimants will be notified of further key dates in the Dutch SoP process once they have been determined by the Company and the administrator. A claimant in the Dutch SoP Scheme who wishes to attend and vote at any creditors' meeting will need to provide the administrator with the necessary supporting documentation evidencing their status as a Dutch SoP scheme claimant and provide evidence of the value of their claim. SIHNV claimants will be able to submit their claims, in due course, by completing the relevant claim form on www.SteinhoffSettlement.com (further details in this regard are contained in the Dutch SoP Scheme Proposal). SIHPL S155 Scheme Claims SIHPL claimants will be able to access a copy of the S155 Scheme Proposal in the manner set out in the notice of availability of the S155 Scheme Proposal. A SIHPL claimant who wishes to attend and vote at the S155 Scheme meeting will need to provide the claims administrator with the necessary supporting documentation evidencing their status as an eligible S155 Scheme claimant and provide evidence of the value of their claim within the stipulated timelines. SIHPL claimants will be able to submit their claims, in due course, by completing the relevant claim form on www.SteinhoffSettlement.com (further details in this regard are contained in the S155 Proposal). Claims Administration Computershare will act as claims administrator to assist with the administration of claims for the purpose of the creditors' meetings and, following approval of the Schemes, to assist the SRF with the further administration of claims and the settlement and payment process. As part of these arrangements, facilities are being made available to assist claimants with the process including the use of call centres and online assistance. Update on Hamilton Application As previously announced on 14 January 2021, Hamilton B.V. and Hamilton 2 B.V. (together "Hamilton") have brought an application in the Western Cape High Court, seeking an order declaring that claimants who are envisaged to fall within both the contractual class and the MPC class in terms of a S155 Scheme proposal, fail to constitute a 'class' within the meaning of the South African Companies Act. SIHPL has opposed the application, and has filed answering papers. Hamilton has filed replying papers, but has indicated that it wishes to file supplementary papers. No date has been set for the hearing of Hamilton's declaratory application. Trevo Capital Ltd ("Trevo") has brought an application in the Western Cape High Court, seeking to intervene, as a respondent, in Hamilton's declaratory application, on the basis that it has a direct and substantial interest in the outcome of Hamilton's declaratory application. Trevo's application is supported by BVI, and the Cronje claimants. SIHPL has opposed the intervention application, but no further papers have yet been filed, and no date has been set for the hearing of Trevo's intervention application. Hamilton and Trevo hold alleged claims that, by the terms of SIHPL's S155 Scheme proposal, will be treated as MPCs. The BVI and the Cronje claimants hold alleged claims that, by the terms of SIHPL's S155 Scheme Proposal, will be treated as contractual claims. Trevo Application Separately, Trevo has brought an application in the Western Cape High Court, seeking an Order (1) declaring that (a) a guarantee provided by SIHPL on 30 January 2014, in respect of a convertible bond issued by Steinhoff Finance Holding GmbH (a member of the Steinhoff Group), and which was subsequently amended or replaced on 12 August 2019 by the SIHPL contingent payment undertaking ("SIHPL CPU") between SIHPL and Global Loan Agency Services Limited, is void in terms of section 45 of the South African Companies Act, (b) both the SIHPL board's resolution authorising the conclusion of the guarantee, and the SIHPL board's resolution authorising the conclusion of the SIHPL CPU, are void, and (c) the SIHPL CPU is void, and (2) interdicting SIHPL from making any payments in terms of the guarantee, the SIHPL CPU and / or a compromise in terms of section 155 of the South African Companies Act and from providing any security in terms thereof. SIHPL intends to oppose this application. No further papers have been filed. Trevo seeks a hearing date of 16 March 2021 for the hearing of its declaratory application / interdict, but this date has not yet been confirmed by the Court. SIHPL strongly disputes the legal merits of the pending applications brought by Hamilton and Trevo, and will oppose those applications and the Trevo intervention application on that basis. Further Information The Steinhoff Group will provide updates on key dates in due course. Claimants will be able to review additional information and, in due course, submit their claim details on the following website: www.SteinhoffSettlement.com. Further updates will be provided following the various processes and court hearings identified above. The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited. Stellenbosch, South Africa 16 February 2021 =---------------------------------------------------------------------------------------------------------------------- 2021-02-16 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 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1168504 End of News DGAP News Service =------------
1168504 2021-02-16
(END) Dow Jones Newswires
February 16, 2021 00:47 ET (05:47 GMT)