Following the delisting, Steinhoff's stock will be converted into a type of equity called contingent value rights . The group's creditors will receive 80% of these CVRs. Shareholders will receive the remaining 20%. The meeting heard that a new and as yet unnamed holding company will be created to take over Steinhoff's books, records and other data.
This company, which will be registered and run from South Africa, will also maintain the register of CVRs. In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
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Book tickets for On the Record JohannesburgIn a time of darkness, who will shine a light on the truth, the future and our hope? News24, in partnership with Nedbank, is proud to announce this year’s series of On the Record summits to talk about South Africa’s future. This year we will bring together the country’s pre-eminent thought leaders and future shapers for two summits - one in Cape Town and one in Johannesburg. Nedbank is again our proud sponsor of the events. The summits bring together the country’s top business, political and civil leaders to participate in robust, thoughtful discussions about South Africa, moderated by News24’s award-winning journalists and editors. The summits are taking place at the Cape Town International Convention Centre on 25 May and at the Kyalami International Convention Centre on 31 August. This year’s summits will host the key decisionmakers in South Africa’s coalition politics future; the country’s top crime-fighters, and those politicians and civil servants who are making a difference in how they run our cities. \r\nLast year’s sold-out-event saw Chief Justice Raymond Zondo, Investigating Directorate head Andrea Johnson and former Eskom CEO André de Ruyter outlining their plans and thoughts on how to get South Africa back on track. Much has happened since then and we will check the pulse of the nation on what to expect in the months preceding the watershed 2024 general election. The Johannesburg event will promptly start at 09:00 and registration will take place from 08:00. This is a full-day event. Lunch and tea breaks are included in the cost. Cost: R950 per ticket Venue:Johannesburg: Jody Shecktor paddock and viewing deck, Kyalami International Convention Centre, Cnr R55 & Allandale Road, Kyalami. Midrand Additional information: Refund Policy: No refunds. Please note that lunch will be served buffet-style, which means guests can choose from a selection of foods on the menu provided. Therefore, only religious dietary requirements such as Halaal and Kosher will
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