Stellenbosch — Steinhoff International Holdings N.V. (the "Company") - The Company is providing the following update further to its announcement dated 8 December 2018.
Dr Christo Wiese, Chairman of the Supervisory Board and Delegated Supervisory Chairman today offered to resign from the Supervisory Board.
Dr Wiese made this offer in order to reinforce the independent governance of the Company of which he is a major shareholder. The Supervisory Board, on the advice of the independent committee of the Supervisory Board, has accepted his resignation to address any possible conflict of interest that may exist. Dr Wiese has offered to provide any ongoing assistance that may be required by the Company.
The Supervisory Board would like to use this opportunity to thank Dr Wiese for his contribution to the Company and wish him well in his future endeavours.
Ms Heather Sonn, a member of the Supervisory Board and its independent sub-committee, has agreed to assume the position of acting Chairperson. Ms Sonn will remain a member of the independent committee together with the other two members, Johan van Zyl and Dr Steve Booysen.
In addition, given the family relationship, Mr Jacob Wiese has also offered his resignation which has been accepted. The Supervisory Board acknowledges Mr Wiese's contribution to the Company and his offer of ongoing assistance.
Shareholders and other investors in the company are advised to exercise caution when dealing in the securities of the group.
Stellenbosch, 14 December 2017
Sponsor: PSG CapitalSteinhoff International Holdings N.V.Date: 15/12/2017 07:05:00 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 through SENS.
Steinhoff Accounting Scandal Dates Further Back
Steinhoff Saga Shows That Corporate SA Speaks With a Forked Tongue
AllAfrica publishes around 600 reports a day from more than 150 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.
Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.
AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 600 news and information items daily from over 150 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Monrovia, Nairobi and Washington DC.