Shareholders petition Amsterdam court to launch inquiry into Steinhoff
Embattled retail giant Steinhoff International said on Thursday that it has received a petition by a group of shareholders for inquiry proceedings before the Enterprise Chamber of the Amsterdam Court of Appeal.
"The petition includes a request to appoint an investigator as well as an additional member of the supervisory board of the company whose role will include oversight.
"That information is provided to shareholders adequately and in the context of any inquiry to be ordered by the Enterprise Chamber."
Steinhoff said the Enterprise Chamber has sent notices to certain interested parties with regards to these proceedings. A hearing is scheduled to take place on 23 May 2019.
In January 2019, Dutch Investors Association (VEB) launched a class action against Steinhoff in the Netherlands for the losses suffered by its shareholders in a 2015 share sale.
Steinhoff's share price collapsed by more than 90% in December 2017 when its auditors flagged accounting irregularities in its books.
The company, now with a market capitalisation of around R8.1-billion in the Johannesburg Stock Exchange, was trading at R1.88 per share on Thursday, a 1.1% decline from close of trading on Wednesday.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation