Steinhoff shareholders clearly believe their investment is in safe hands – or as safe as it can be under the circumstances – just 37 shareholders arrived at the AGM in the Netherlands on Friday, and seven at the simulcast in Cape Town. Of the shares that could be voted, just 25% were voted.
The litigation is one reason why the supervisory board has decided not to release the full PWC forensic report , despite earlier promises to do so, to the chagrin of some shareholders.Why is the report not being released?” asked one shareholder. “Is it because you have made a deal with the regulators? Or is there something that shareholders should be concerned about, but which is not being disclosed?”We were promised maximum transparency with regards to the contents of the report,” said another.
stability, it will help to ensure fair treatment across all creditors and gives management time to deleverage the group.
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