SAICA announces charges of misconduct against Markus Jooste
The South African Institute of Chartered Accountants (SAICA) has announced that they will be undertaking disciplinary action against disgraced Steinhoff CEO, Markus Jooste. The keen horse breeder left Steinhoff just before the company was embroiled in a financial scandal. The alleged financial fraud that took place was not only investigated by South African authorities, but by forensic auditors at PwC – payed for by Steinhoff. Bloomberg reported that officials showed vert little progress in getting closer to the accounting irregularities within the company. Jooste himself was fined around R162 million by the FSCA for insider trading. The former CEO left many South Africans outraged, as he is yet to face the consequences for his alleged involvement in the inside-trader related events. Among those who lost money is Christo Wiese, who lost a considerable chunk of his vast fortune. However, Jooste may just have to face the mu
STELLENBOSCH, South Africa–(BUSINESS WIRE)–STEINHOFF INTERNATIONAL HOLDINGS PROPRIETARY LIMITED (“THE COMPANY”) NOTICE OF THE AVAILABILITY OF A s155 PROPOSAL
Notice is hereby given to inter alia certain creditors (“Scheme Creditors”) of Steinhoff International Holdings Proprietary Limited (“the Company”), of a proposed scheme of arrangement and compromise (the “Scheme”), and of the availability of the proposal / Scheme document (the “Proposal”).
1 ACCESSING THE PROPOSAL AND ITS ANNEXURES
The Proposal and its annexures are available at www.SteinhoffSettlement.com, and by completing a request form from the Registrar of the High Court of South Africa, Western Cape Division, Cape Town.
2 FURTHER COMMUNICATIONS
Steinhoff International reveals R6 54bn global settlement iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.
DGAP-Ad-hoc: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous Steinhoff International Holdings N.V.: DUTCH SUSPENSION OF PAYMENTS PROCEDURE OPENED FOR SIHNV 15-Feb-2021 / 19:31
Steinhoff Investments swung into a full-year loss
By Sandile Mchunu
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DURBAN - Steinhoff Investment Holdings, a wholly-owned subsidiary of Steinhoff International Holdings, on Friday swung into a full-year loss of R13.68 billion for the year to end September, negatively impacted by impairments and Covid-19 outbreak in its operations.
The group reversed a profit of R3.94bn it reported last year.
Steinhoff Investments said it recorded total impairments of R5.1bn during the financial year.
The group also made a provision of R9.4bn in respect of litigation settlement proposal and a foreign exchange loss of R5bn was recognised on the Steinhoff International Holdings Proprietary Limited contingent payment undertaking (SIHPL CPU) liability.