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Steinhoff International Holdings N.v. - The Potential Listing Of Steinhoffs African Retail Assets On The Jse Limited And Cautionary Announcement

Release Date: 17/05/2017 17:00:00      Code(s): SNH     Email this JSE Sens Item to a Friend   Printer Friendly Version
The Potential Listing Of Steinhoff’s African Retail Assets On The JSE Limited And Cautionary Announcement

Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019
("Steinhoff" or the “Company”)

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR
RELEASE WOULD BE UNLAWFUL.

THE POTENTIAL LISTING OF STEINHOFF’S AFRICAN RETAIL ASSETS ON THE JSE LIMITED AND
CAUTIONARY ANNOUNCEMENT

1.   Introduction

     Shareholders of Steinhoff are hereby advised that the Company is evaluating and initiating
     steps to establish the separate listing of its African retail businesses on the main board of the
     JSE Limited (“JSE”) (the “Listing”).

     Prior to the Listing, Steinhoff will consolidate its African retail businesses, with assets including
     Pepkor South Africa and rest of Africa, JD Group, Unitrans Automotive, Steinbuild, Poco South
     Africa and Tekkie Town (collectively, “Steinhoff Africa Retail Assets”), under a single holding
     company (“ListCo”).

     The Steinhoff Africa Retail Assets are comprised of highly recognisable retail brands that have
     an extensive retail footprint and impressive growth track-record, both in South Africa and the
     rest of Africa.


2.   Rationale

     Steinhoff will continue to own a controlling interest in ListCo and it is the vision of Steinhoff to
     create a diversified multi-format listed retail company of significant size and scale with its roots
     in Africa.

     The Listing will result in Steinhoff’s African retail exposure being held through a separately listed
     entity which can be independently valued as an emerging market, African-focused retail
     company. The establishment of a listed reference price for the Steinhoff Africa Retail Assets
     will avoid these assets being undervalued.
     A separation of Steinhoff’s emerging market retail business and developed market retail
     business will be a natural progression for the respective businesses given the divergent
     strategic focus in each market.

3.   Timing

     ListCo has appointed Citigroup Global Markets Limited, Investec Bank Limited, Morgan
     Stanley & Co International Plc and Rand Merchant Bank (a division of FirstRand Bank Limited)
     to advise on the proposed Listing.

     Any decision to proceed with the Listing will be subject to a number of factors, including, inter
     alia, market conditions and regulatory approvals. It is contemplated that the Listing will be
     completed in the third quarter of 2017.

     The Listing will include a capital raise to achieve the required public shareholder spread, with
     Steinhoff retaining control in ListCo.


4.   Cautionary Announcement

     The Listing may have a material effect on the price of the securities of Steinhoff. Accordingly,
     shareholders are required to exercise caution when dealing in the Company’s shares until a
     further announcement is made.

Stellenbosch

17 May 2017

SYG. Pending rights offer weighing on the stock. (DBX trackers acquisition).

Goeie genade! Dis 'n nadruklike 'nee'.

Do you see this stock going beyond R10?

It is already way beyond that, but you meant R100 not so ?
If so, it will all depend on the timeframe. I have no idea but would not rule out ± R30 by end 2017.
(Sunwave Pharma SRL and NHP Pharma LTD are the most recent acquisitions).

       The Sunwave Transaction and the NHP Pharma Transaction are collectively referred to as
       the “Proposed Transactions” for the purpose of this announcement.
       Sunwave is a distributor of complementary and alternative medicines (“CAMS”) and food
       supplement products in Romania. It is the largest player in the food supplements category
       and sixth largest player in the broader over-the-counter (“OTC”) category in the country. The
       company specialises in marketing its products directly to the doctor community, through a
       sales force of approximately 290 effective and well-trained individuals.
       NHP Pharma, in collaboration with its third-party suppliers, has developed a vast product
       portfolio of complementary medicines across nine major therapeutic areas. The efficacy of its
       products have been further validated through clinical and post-marketing studies. NHP
       Pharma owns the trademarks and other relevant IP relating to its products, with Sunwave
       being NHP Pharma’s largest customer.
       The Proposed Transactions are inter-conditional and, going forward, will be treated as a
       single business combination in the hands of Ascendis. Ascendis aims to achieve an EBITDA
       margin of approximately 20% from the Proposed Transactions.

Some relief.. (Up nearly 18% as I type this).

ALLIANCE NEWS DETAIL


TOP NEWS: MEDICLINIC SHARES JUMP ON ABU DHABI REGULATORY CHANGE

[ 27 Apr 2017 08:21 ]
LONDON (Alliance News) - Shares in private healthcare business Mediclinic International PLC jumped Thursday morning following a reported regulatory change in Abu Dhabi, waiving co-payments for private medical treatment.

Shares in Mediclinic were up 11% at 810.00 pence Thursday, shortly after the market open, the best performer in the FTSE 100.

Mediclinic noted Thursday statements from the crown prince of Abu Dhabi. Crown Prince Mohamed bin Zayed Al Nahyan ordered the waiving of the 20% co-payment for holders of a Thiqa medical insurance card when receiving treatment at private healthcare facilities in Abu Dhabi. Mediclinic said it is awaiting precise details on these regulatory changes from the Health Authority of Abu Dhabi.

Mediclinic said it will continue to monitor the regulatory environment and the effect of these changes on its Middle East business. It operates six hospitals and 34 clinics in the UAE, and its Mediclinic Middle East business contributed 16% of revenue for its financial year ended in March.

By Hana Stewart-Smith; [email protected]; @HanaSSAllNews

AND the Swiss regulatory update on 10th April  ..
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
 
10 April 2017
 
Swiss regulatory update
 
Mediclinic International plc, the international private healthcare group, today announces the following updates in the regulatory environment of Hirslanden, its operating platform in Switzerland.
 
In the Group's interim results announcement on 10 November 2016, Mediclinic stated that the canton of Zurich was considering a levy on the proportion of privately insured patients treated in listed hospitals, including Klinik Hirslanden, known as the VVG levy and that the Swiss national outpatient tariff ("TARMED") was still in revision.
 
On Monday, 10 April 2017, the Zurich Cantonal Parliament voted not to approve the proposed VVG levy.
 
On TARMED, the Swiss Federal Government has released proposed adjustments as a transitional solution whilst healthcare providers and funders continue to negotiate and agree a revised TARMED tariff structure. The government proposal is targeting annual savings of around CHF700m across the public and private outpatient sectors. Outpatient services contribute less than 20% of Hirslanden revenues. Due to its implementation date on 1 January 2018, the impact on Hirslanden is expected to be limited in the 2018 financial year (to 31 March 2018). Based on initial analyses of the complex proposal, the expected annualised impact on Hirslanden outpatient revenues could be around 10% before any mitigating actions are considered which could include improved utilisation and increased efficiencies.
 
The Zurich Cantonal Parliament has also approved an amendment to the cantonal hospital law, providing a legal basis for the cantonal government to create a list of interventions that in future should generally be treated as outpatient rather than inpatient services. The final list of interventions will be agreed following a working group review.

I admire Magda ..

"The rand and the bond market clearly reflect the fact that international investors are unaware of the political risks facing South Africa. They assume that mass demonstrations are a sign of change, like they are in Brazil. They are not. Unfortunately, we are at the beginning of our journey towards change, not at its end. Business can make international investors aware of that."

https://www.dailymaverick.co.za/opinionista/2017-04-21-business-leadership-sa-finally-wakes-up/

Yes, and because of strong inflows to our bond market. After US increases their Fed Funds rate 3 x things will change.