Edition:
India

Steinhoff Africa Retail Ltd (SRRJ.J)

SRRJ.J on Johannesburg Stock Exchange

1,759.00ZAc
18 May 2018
Change (% chg)

34.00 (+1.97%)
Prev Close
1,725.00
Open
1,789.00
Day's High
1,808.00
Day's Low
1,708.00
Volume
4,100,715
Avg. Vol
5,898,656
52-wk High
2,740.00
52-wk Low
1,434.00

Latest Key Developments (Source: Significant Developments)

Steinhoff Africa Says Not Received Any Legal Document On Claims Relating To Tekkie Town's Founder
Wednesday, 16 May 2018 

May 16 (Reuters) - Steinhoff Africa Retail Ltd ::ALLEGED CLAIM LODGED BY FOUNDERS AND ORIGINAL SHAREHOLDERS OF TEKKIE TOWN IN TERMS OF AN EARN-OUT AGREEMENT.HAS TAKEN NOTE OF NEWS ARTICLE PUBLISHED TODAY PERTAINING TO A CLAIM ALLEGEDLY LODGED BY FOUNDERS AND ORIGINAL SHAREHOLDERS OF TEKKIE TOWN.CLAIMS AGAINST STEINHOFF INTERNATIONAL HOLDINGS N.V. IN TERMS OF AN ALLEGED EARN-OUT AGREEMENT .CONFIRMS THAT IT HAS NOT RECEIVED ANY LEGAL DOCUMENTS IN THIS REGARD.STAR IS NOT PARTY TO ANY SUCH EARN-OUT AGREEMENT AND THERE IS NO REASONABLE PROSPECT OF STAR BEING HELD LIABLE IN THIS REGARD.  Full Article

Steinhoff Africa Retail Says Claim Lodged By Tekkie Town Founders Against Steinhoff International
Friday, 11 May 2018 

May 11 (Reuters) - Steinhoff Africa Retail Ltd ::STEINHOFF AFRICA RETAIL LTD - CLAIM LODGED BY FOUNDERS AND ORIGINAL SHAREHOLDERS OF TEKKIE TOWN AGAINST STEINHOFF INTERNATIONAL HOLDINGS N.V..STEINHOFF AFRICA RETAIL LTD - STAR CLARIFIES THAT THIS CLAIM IS NOT AGAINST STAR AND THAT STAR IS AN INDEPENDENTLY LISTED COMPANY..STEINHOFF AFRICA RETAIL-OBTAINED ADVICE FROM SENIOR COUNSEL REGARDING CLAIM LODGED AGAINST STEINHOFF; BELIEVES LIKELIHOOD OF THIS AFFECTING STAR IS REMOTE.  Full Article

Companies In Christo Wiese's Titan Group Lodge Claims Of 59 Bln Rand Against Steinhoff
Thursday, 26 Apr 2018 

April 26 (Reuters) - TITAN GROUP - :TITAN GROUP - COS IN CHRISTO WIESE'S TITAN GROUP LODGES CLAIMS OF R59 BILLION AGAINST STEINHOFF.TITAN GROUP - CLAIMS RELATE TO CASH INVESTMENTS MADE BY THE TITAN GROUP IN STEINHOFF IN 2015 AND 2016..TITAN GROUP - SECOND CLAIM RELATES TO GROUP'S CAPITAL INJECTION INTO STEINHOFF IN 2016 TO ENABLE IT TO MEET ITS DEBT OBLIGATIONS AT TIME OF ITS ACQUISITION OF US MATTRESS FIRM.TITAN GROUP -COMPANIES CLAIM CANCELLATION OF AGREEMENT ENTERED INTO WITH STEINHOFF IN 2015 WHEREBY THE TITAN GROUP SUBSCRIBED FOR SHARES IN STEINHOFF.TITAN GROUP - WIESE SAID HIS CO FULLY PREPARED TO WORK WITH CLAIMANTS TO ENSURE STEINHOFF REMAINS, CONTINUES AS SUSTAINABLE CO.TITAN GROUP - IN 2015 TITAN SUBSCRIBED FOR SHARES IN STEINHOFF FOLLOWING ACQUISITION OF PEPKOR; COMPANIES NOW CLAIM REPAYMENT OF SUBSCRIPTION AMOUNT.  Full Article

Steinhoff Africa Retail Says Total Interest In Co Held By Ainsley Now Amounts To 71.01 Pct
Friday, 13 Apr 2018 

April 13 (Reuters) - Steinhoff Africa Retail Ltd::TOTAL INTEREST IN ORDINARY SHARES OF CO NOW HELD BY AINSLEY AMOUNTS TO 71.01% OF TOTAL ISSUED ORDINARY SHARE CAPITAL OF CO.PARTICIPATION IN DISPOSAL PROCESS INCLUDED A BROAD SPREAD OF RETAIL, LONG-ONLY AND HEDGE FUND INVESTORS.DISPOSAL OF SHARES IN STAR RESULTS IN STAR ACHIEVING MIN. FREE FLOAT OF 20% , EXPECTED TO ENHANCE LIQUIDITY IN STAR'S SHARES.  Full Article

Steinhoff Africa Retail Says Not To Implement Call Options Pertaining to Titan, Lavender Sky
Friday, 15 Dec 2017 

Dec 15 (Reuters) - Steinhoff Africa Retail Ltd ::‍RECEIVED CONFIRMATION FROM TITAN WHICH CONFIRMS CALL OPTION AGREEMENT WITH TITAN WILL NOT BE CAPABLE OF IMPLEMENTATION AND WILL NOT BECOME UNCONDITIONAL​.CONFIRMATION MEANS THAT LAVENDER SKY CALL OPTION AGREEMENT WILL ALSO TERMINATE​.‍STAR BOARD WILL THEREFORE NOT BE ABLE TO IMPLEMENT CALL OPTIONS PERTAINING TO TITAN AND LAVENDER SKY​.‍WILL ENTER INTO DISCUSSIONS WITH REMAINING PARTIES IN RESPECT OF THEIR CALL OPTION AGREEMENTS TO ASSESS WAY FORWARD​.  Full Article

Steinhoff Africa Retail appoints Leon Lourens as CEO with immediate effect​
Wednesday, 6 Dec 2017 

Dec 6 (Reuters) - STEINHOFF AFRICA RETAIL LTD ::‍EXISTING CEO, BEN LA GRANGE HAS DECIDED TO STEP DOWN AS CEO OF STAR​.CURRENT COO OF COMPANY, LEON LOURENS HAS BEEN APPOINTED TO BOARD, FURTHERMORE BEEN APPOINTED AS CEO OF STAR WITH IMMEDIATE EFFECT​.  Full Article

Steinhoff Africa Retail's FY Oper Profit Rises 25.2 Pct
Monday, 4 Dec 2017 

Dec 4 (Reuters) - Steinhoff Africa Retail Ltd ::‍13.2% INCREASE IN FY REVENUE TO R58.6BN​.‍100 BPS FY MARGIN INCREASE TO 10.4%​.‍25.2% INCREASE IN FY OPERATING PROFIT TO R6.1BN​.‍BUSINESS IS ON TRACK TO OPEN ANOTHER 350 STORES DURING 2018 FINANCIAL YEAR​.‍GROUP WILL CONTINUE TO EXPLORE NEW TRADING FORMATS AND ALSO EXPAND ITS MARKET SHARE IN LADIES' WEAR AND ADDITIONAL SERVICES​.‍GROUP TARGETS A DIVIDEND COVER OF TWO TIMES HEADLINE EARNINGS FOR NEXT FINANCIAL YEAR​.‍NO FURTHER DIVIDEND WILL BE DECLARED FOR FY17​.FY ‍HEADLINE EARNINGS PER SHARE OF 133.6​ CENTS.  Full Article

Steinhoff Africa Retail Exercises Call Options To Acquire Controlling Interest In Shoprite​
Thursday, 30 Nov 2017 

Nov 30 (Reuters) - Shoprite Holdings Ltd ::EXERCISED CALL OPTIONS TO ACQUIRE ABOUT 23.1% ECONOMIC INTEREST IN AND APPROXIMATELY 50.6% VOTING CONTROL OF SHOPRITE.​.  Full Article

BRIEF-Steinhoff Africa Retail Says ‍Allen Swiegers Resigned As Independent Non-Executive Director ​

* ‍ALLEN EDWIN SWIEGERS HAS TENDERED HIS RESIGNATION AS INDEPENDENT NON-EXECUTIVE DIRECTOR FROM BOARD OF STAR DUE TO PERSONAL REASONS​