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http://www.steinhoffinternational.com/downloads/...0Notice%202019.pdf
Quelle: AGM notice
9.1 Capital Reduction (voting item)
The Management Board proposes, with the approval of the Supervisory Board, to reduce
the nominal value of each ordinary share in the capital of the Company from EUR 0.50 per
ordinary share to EUR 0.01 per ordinary share.
The Capital Reduction serves the purpose of settling Company losses in the aggregate
amount of EUR 2,111,766,300.56, as part of the measures required under Section 2:108a
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of the Dutch Civil Code (see agenda item 2). If the general meeting adopts the relevant
resolutions to give effect to the Capital Reduction, the issued capital of the Company will be
reduced. No shares are cancelled as a result of the Capital Reduction. In addition to settling
Company losses, the Management Board considered it prudent to reduce the nominal value
of ordinary shares in the capital of the Company since the current trading price of shares on
the relevant stock exchanges is below the current par value of an ordinary share. Pursuant
to the Dutch Civil Code, it is in principle not allowed to issue shares below par.
This resolution requires a simple majority of over 50 per cent. of votes cast. If less than 50
per cent. of the shares is represented at the formal AGM, this resolution requires a majority
of at least two-thirds of the votes cast, in accordance with Section 2:99, subsection 6, of the
Dutch Civil Code, and article 11 paragraph 4 of the articles of association of the Company.
The Capital Reduction is subject to the condition precedent that the amendment of the
articles of association as proposed under agenda item 9.2 takes effect.
4 (3,25%)
