Nieuw bericht van Steinhoff om 10.20:
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”)
SEAG and Finance Holding lock up agreement effective
The Company refers to its announcement on 11 July 2018 (the “LUA Announcement”)
confirming the launch of a consent process for a 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”). The Company also refers to its announcement of
19 July 2018 confirming that the condition precedent to the LUA in respect of creditor
accessions had been satisfied and that the Company was aiming to satisfy, as soon as
possible, the remaining conditions precedent to the LUA (as outlined in the LUA
Announcement) in order for the LUA to become effective.
The Company is pleased to announce that the boards of SEAG and Finance Holding have
each established a “positive going concern prognosis” as a matter of Austrian law and, with
the final condition precedent satisfied, the LUA 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).