DGAP-News: Steinhoff International Holdings N.V.
/ Key word(s): Miscellaneous
BaFin administrative fine
Steinhoff International Holdings N.V. (“Steinhoff” and with its subsidiaries the “Group”)
As disclosed in the 2022 Half-year Report, Steinhoff has engaged with BaFin on the late publication of historical financial reports and certain voting rights notifications.
Steinhoff has been informed that BaFin imposed an administrative fine of EUR 11,290,000 on Steinhoff. The sanction was based on a violation of Section 114 paragraph 1 sentence 1 of the German Securities Trading Act (WpHG) as well as violations of Section 130 paragraph 1 of the German Act on Breaches of Administrative Regulations (OWiG) in conjunction with Section 40 paragraph 1 sentence 1 of the WpHG. BaFin concluded that Steinhoff had not made its annual financial report for the 2016/2017 financial year available within the prescribed period to the public and had also failed to publish voting rights notifications it had received within the prescribed period. The administrative fine of EUR 11,290,000 will also effectively resolve other late filings of financial reports and voting rights notifications. Further BaFin confirmed that the fine amount and administrative costs are payable in three tranches as follows: EUR 3,763,000 on 31 March 2023, EUR 3,763,000 on 31 March 2024 and EUR 3,771,500 on 30 September 2024. Steinhoff has decided to not appeal against the fine notice.
Steinhoff Group CEO Louis du Preez said: “We are pleased to have concluded another historical regulatory matter.”
A publication of the sanction may be found on the website of BaFin (www.bafin.de).
Steinhoff has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited.
Stellenbosch, 13 July 2022
13.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Steinhoff International Holdings N.V.|
|cnr Adam Tas and Devon Valley Road|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1397311|
|End of News||DGAP News Service|