Response Deadline: Notice of Disagreement, if any, to be received by the Claims Administrator on behalf of the Steinhoff Recovery Foundation (SRF) within 30 Business Days from the date of this e-mail, so ultimately on 23 January 2023; contact details are provided further below.
Dear Mr. Klever,
Thank you for submitting your Claim.
This email serves as a Claim Determination notification with respect to your Claim filed in the Steinhoff Group Settlement, implemented through inter alia the Dutch Suspension of Payments proceedings, resulting in the SIHNV Composition Plan confirmed by the Amsterdam District Court on 23 September 2021 and related documents (the SIHNV Composition Plan), and the proposal pursuant to Section 155 of the South African Companies Act (2008) sanctioned by the Western Cape High Court on 24 January 2022 and related documents (the SIHPL Section 155 Proposal), and filed in relation to the D&O Insurers Market Purchase Claimants Offer and the Deloitte Market Purchase Claimants Offer. This Claim Determination notification is being made pursuant to and subject to (without limitation) the SRF and Claim Administration Conditions, the Dispute Committee Rules, and the SIHNV Composition Plan, the SIHPL Section 155 Proposal, the SSSA and the other Steinhoff Settlement Documents (as defined in the SIHNV Composition Plan). Capitalised terms not otherwise defined herein have the meaning ascribed to them in the Steinhoff Settlement Documents.
We have determined your claim to be accepted.
After review of your Claim, we have determined that your Claim results in a positive Claim Value under the terms of the Steinhoff Settlement Documents. Your MPC Claim Value as calculated in accordance with the Steinhoff Allocation Plan is xx. Your SIHPL Claim Value as calculated in accordance with the Steinhoff Allocation Plan is 0.00.
The Claim Value(s) are not the amount that you are entitled to receive from the relevant settlement funds. The amount(s) you are entitled to receive will be calculated on a pro rata basis, and therefore only represents a proportion of your Claim Value. The exact proportion to which you may be entitled cannot be calculated yet. This is because the relevant settlement funds must be shared between all relevant MPC Claimants and/or SIHNV Contractual Claimants, as applicable. Therefore, your share of the relevant settlement funds is contingent on the total of all Claim Values.
Note that in case you are entitled to a payment pursuant to a relevant Steinhoff Settlement Document that is in aggregate less than, or equal to, EUR 1.00 or the equivalent in South African Rand (ZAR), as applicable, pursuant to the SRF and Claims Administration Conditions a payment will not be made. Please additionally note that shares determined to have been traded on the Johannesburg Stock Exchange will be paid in South African Rand (ZAR) and shares determined to have been traded on the Frankfurt Stock Exchange will be paid in Euro (EUR).
Important: if your bank details have changed since submitting your Claim, please inform us as soon as possible of the correct bank details using the contact details (email address) below. If your bank details are not completely correct, you will not receive any payment and ultimately your entitlement to such payment will fully and irrevocably cease to exist pursuant to the SRF and Claims Administration Conditions.
If you disagree with this Claim Determination, you may submit a Notice of Disagreement. In that case, you must ensure that the Notice of Disagreement is actually received by the Claims Administrator (on behalf of the Steinhoff Recovery Foundation) within thirty (30) Business Days after the date of this Claim Determination notification, so ultimately on 23 January 2023 at the email address Institutions@SteinhoffSettlement.com. The Notice of Disagreement must include your claim number and must set forth the reasoned grounds for disagreement together with copies of all relevant supporting documentation |