SNH: STEINHOFF INTERNATIONAL HOLDINGS N.V. - Settlement Of German Litigation With Seifert Entities

SNH: STEINHOFF INTERNATIONAL HOLDINGS N.V. - Settlement Of German Litigation With Seifert Entities Settlement Of German Litigation With Seifert Entities Steinhoff International Holdings N.V. (Incorporated in the Netherlands) (Registration number: 63570173) Share Code: SNH ISIN: NL0011375019 STEINHOFF - SETTLEMENT OF GERMAN LITIGATION WITH SEIFERT ENTITIES Steinhoff International Holdings N.V. (the "Company" and with its subsidiaries, the "Group") Shareholders are referred to the Group´s ongoing German litigation proceedings with entities controlled by Dr Andreas Seifert ("Seifert Entities") (collectively referred to as "the Parties"), in relation to the ultimate ownership interests in the POCO furniture group ("POCO"). In this regard, representatives of the Parties attended a court hearing in Dortmund on Wednesday, 25 April 2018 ("the Hearing"). The Company is pleased to announce that, at the Hearing, the Parties agreed, in principle, to settle the matter on acceptable terms. To this end, it was agreed that the Group would no longer contest the validity of the forfeiture of the Seifert Entities´ existing 50% interest in POCO. Furthermore, the Seifert Entities offered to acquire the Group´s remaining interest in POCO based on an agreed equity valuation of EUR532.5 million for 100% of the equity in POCO. In addition the POCO business will retain debt of approximately EUR140 million, with no recourse to the Group. Details of the agreement reached will be finalised by the Parties in the coming weeks. Shareholders and other investors in the Company are advised to exercise caution when dealing in the securities of the Group. JSE Sponsor: PSG Capital Stellenbosch, 26 April 2018 Date: 26/04/2018 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated throu