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STEINHOFF INTERNATIONAL HOLDINGS N.V. - Update On Conforama Refinancing

Release Date: 15/04/2019 11:00
Code(s): SNH SHFF
 
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Update On Conforama Refinancing

Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019

Steinhoff Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1954/001893/06)
JSE Code: SHFF
ISIN: ZAE000068367

UPDATE ON CONFORAMA REFINANCING

Steinhoff International Holdings N.V. (the “Company” or “Steinhoff”) and with its
subsidiaries, the “Group”)

With regards to the Conforama refinancing negotiations, as reported on 11 April
2019, the company wants to highlight the following key terms in terms of the new
money financing (as part of financing materials which has been updated on the
Company’s website):

“Warrants: Issue of warrants in an amount equal to 49.9% of the issued share capital
of Conforama Holding SA to the New Money providers, which confer enhanced
governance rights by way of certain reserved matters and provide the right for New
Money providers to appoint two independent directors to the board of Conforama
Holding. The warrant issuance date is subject to certain milestones, but ultimately
31 December 2019 or in event of a sale before that date

Premium Amount: Call protection of 10 per cent. on any repayments or
prepayments for the first 3 years together with interest which may accrue up to the
end of year 2. Call protection of 5 per cent. shall apply from year 3 onwards. Call
protection shall be 6 per cent. with respect to any disposal of the Iberian business
initiated at the request of the majority New Money providers”

The Company will provide further updates as appropriate.

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, 15 April 2019

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