Steinhoff Announces Investigation Into Accounting Irregularities And Resignation Of CEO
Steinhoff International Holdings N.V.
Incorporated in the Netherlands
Registration number: 63570173
Share Code: SNH
("Steinhoff" or the "Company")
Disclosure of inside information in accordance with Article 17 MAR, transmitted by DGAP, a service of
EQS Group AG
Steinhoff announces investigation into accounting irregularities and resignation of CEO
The Supervisory Board of Steinhoff wishes to advise shareholders that new information has come to
light today which relates to accounting irregularities requiring further investigation. The Supervisory
Board, in consultation with the statutory auditors of the Company, has approached PWC to perform
an independent investigation.
Markus Jooste, CEO of Steinhoff has today tendered his resignation with immediate effect and the
Board has accepted the resignation.
Steinhoff will update the market as the aforesaid investigation proceeds. The Company will publish
the audited 2017 consolidated financial statements when it is in a position to do so. In addition, the
Company will determine whether any prior years' financial statements will need to be restated.
The Supervisory Board has today appointed its Chairman, Dr. Christo Wiese, as Executive Chairman
(Delegated Supervisory Chairman) on an interim basis. In addition, Pieter Erasmus, the previous CEO
of Pepkor Group, has agreed to join Dr. Wiese in an executive advisory capacity to assist with managing
the group's various retail interests around the world. Dr Wiese and the Board will supplement the
management team and will embark on a detailed review of all aspects of the Company's business with
a view to maximising shareholder value.
The Supervisory Board wishes to reassure shareholders that Steinhoff has a number of high quality
profitable businesses around the world.
Shareholders and other investors in Steinhoff are advised to exercise caution when dealing in the
securities of the Group.
5 December 2017
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