The WHOA proposal : the best thing you can do is voting AGAINST THE 'JOKKEBROKKEN'......
Have a look at these statement at the AGM March 2022, as we know now, everything is totally changed in the summer 2022, so 3 months after these statements!
Page 11: Final Minutes Steinhoff AGM 2022
'In respect of the basis of preparation of the financial reporting Mr. De Klerk highlighted the going concern assumption, requiring management to make a judgement at the time of finalizing the financial report regarding the likelihood of success of the litigation settlement. Management's view had been that it was more likely than not to succeed. Ajudgement had to be made regarding the value, even though there were still settlement negotiations with certain parties ongoing. He confirmed that a provision of onepointfiveseventhree billion euro (1.573 billion) had been raised in that regard.
Further, management had to consider the debt maturity. At that stage, an interim debt extension was in place. However, subsequent to the effective date of the litigation settlement, the debt maturity would be extended further. COVID-19 considerations had played an important role at all the OpCos.
Mr. De Klerk drew the attention to the Group's total liabilities exceeding its total assets, but noted that the assets were recorded at book value and not at fair value. The current assets, however, exceeded the current liabilities,and the Group had sufficient cash flow to continue in operational existence for the fore seeable future.
Mr. De Klerk confirmed that the OpCos were independently funded and didnot rely on the Group forfunding'.
Note: In the Netherlands we are calling such a person : 'JOKKEBROK'..... WHAT HAPPENED PRECISELY IN THE PERIOD MARZ-DECEMBER 2022? WE DO NOT KNOW, IT'S A BLACK BOX.
https://www.steinhoffinternational.com/downloads/...hoff-AGM-2022.pdf
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