February 20, 2018 / 6:25 AM / 6 months ago

BRIEF-Steinhoff Says Amsterdam Court Delivers Verdict On Dutch POCO Proceedings

Feb 20 (Reuters) - Steinhoff International Holdings Nv :

* ‍DECISION OF ENTERPRISE CHAMBER OF AMSTERDAM COURT OF APPEAL​

* ENTERPRISE CHAMBER OF AMSTERDAM COURT OF APPEAL ISSUED DECISION IN RESPECT OF PROCEEDINGS BROUGHT BY OM-HANDELS GMBH AND MW HOLDINGS GMBH

* ‍ENTERPRISE CHAMBER IN JUDGEMENT RULED CO WAS CORRECT TO CONSOLIDATE POCO AS A CONTROLLED INTEREST IN ITS 2016 ACCOUNTS​

* ‍ENTERPRISE CHAMBER ORDERED THAT COMPANY AMENDS 2016 ACCOUNTS​

* ‍ENTERPRISE CHAMBER ORDER CO AMENDS IT’S CONSOLIDATION TREATMENT OF POCO BE CHANGED FROM 100% TO 50% CONTROLLING INTEREST​

* ‍COMPANY IN PROCESS OF STUDYING JUDGEMENT (INCLUDING WHETHER IT PROVIDES GROUNDS FOR APPEAL)

* ‍CONSIDERING IMPACT OF ENTERPRISE CHAMBER’S DECISION ON CO’S ACCOUNTS AND WILL UPDATE SHAREHOLDERS IN DUE COURSE​

* ENTERPRISE CHAMBER ORDERED ‍IT BE RECORDED THAT SEIFERT ENTITIES HOLD A 50% NON-CONTROLLING INTEREST IN POCO​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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