Since August 2017, there are some reports about a falsification of the balance sheet of the Steinhoff International Holdings N.V. In Germany Steinhoff is especially known for the "POCO" furniture stores. In the beginning of December there was new information about irregularities in the whole concern. The CEO Markus Jooste, who has been in the management of Steinhoff for two decades, resigned his position. The share price fell from EUR 3,42 to EUR 0,35 in the meantime. Furthermore, the price of the EUR 800 million bond collapsed by almost 50 %. The bond was emitted by Steinhoff Europe AG, a subcompany of Steinhoff International Holding N.V. based in Austria, in the summer of 2017 with a term until 2025 and an interest rate of 1,875 % (ISIN: XS1650590349) and guaranteed by Steinhoff International Holdings N.V.

As a result of this and in the opinion of the SdK, it is to be feared that banks may terminate loans and the creditors have to waive part of their claims, if there is a restructuring of the company. In order to strengthen the position of the bondholders, it is appropriate from the point of view of the SdK (Schutzgemeinschaft der Kapitalanleger) to elect a common representative of the bondholders in accordance with § 7 SchVG (Schuldverschreibungsgesetz). The German Schuldverschreibungsgesetz 2009 (SchVG) is applicable - despite the registered office of the Steinhoff Europe AG is in Austria - as the bond was issued under German law.

The SdK offers to all bondholders to keep them up to date about the current situation of Steinhoff International Holdings N.V and to exercise their voting rights at future creditor meetings. Affected investors are invited to register for a free newsletter at www.sdk.org/steinhoff (german version) or by e-mail under info@sdk.org.

Members of the SdK can get further information at info@sdk.org.

München, den 13.12.2017
SdK Schutzgemeinschaft der Kapitalanleger e.V.