Steinhoff preference shares face suspension if retailer fails to meet JSE’s results deadline
The JSE set Steinhoff International a deadline of February 28 to publish its results or have its preference shares suspended.But the JSE said it would not suspend Steinhoff’s ordinary shares or its bonds if it failed to meet the deadline.The bourse issued three separate statements for each type of Steinhoff financial instrument that trades on its boards.Regarding Steinhoff’s ordinary shares, the JSE reminded investors that the furniture group’s primary listing was in Frankfurt, and the German stock exchange had not yet decided to suspend the furniture group’s shares."Suspending trading in Steinhoff International on the JSE would place investors on the JSE at a disadvantage to those who are able to trade on the Frankfurt Stock Exchange," the bourse said in a statement on Thursday morning.Regarding Steinhoff’s bonds, the JSE said the furniture retailer was in the process of obtaining its bondholders’ written consent to change the rules under which they were issued. If Steinhoff obtain...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.