No foul play in dividend to transfer Lodestone shares - Jooste son-in-law

2018-05-22 22:00

The declaration of a dividend in specie (a distribution in a form other than cash) – which included the transfer of Lodestone shares from Mayfair Speculators to Mayfair Holdings – was above board, says Stefan Potgieter.

Steinhoff seeks three-year debt extension amid account probe

2018-05-18 22:46

Steinhoff International Holdings is seeking a three-year extension on most of its $11.3bn of debt as it battles to come to grips with an accounting scandal that’s wiped more than 96% off the share price.

Embattled Steinhoff will finally release results in June

2018-05-18 15:21

Embattled retailer Steinhoff has confirmed it will release the financial results of the first half of 2018 on June 29, 2018.

Investec bleeds R220m on Steinhoff exposure

2018-05-17 10:26

Investec Bank losses R210m as a result of credit exposure to Steinhoff.

Steinhoff legal woes mount as share price slides

2018-05-11 19:32

The Public Servants Association is finalising a court application to declare some of Steinhoff’s current and past directors as delinquent for allegedly contravening the Companies Act.

OPINION: Steinhoff's $3.8bn mattress is overstuffed

2018-05-07 13:32

Why did Steinhoff need to buy 3 500 American mattress stores, asks Bloomberg columnist Chris Bryant.

Steinhoff CEO’s R26.4m loan one week before stock collapsed

2018-05-06 06:03

Steinhoff International Holdings said acting CEO Danie van der Merwe repaid a R26.4 million loan backed by company shares that he took out a week before the retailer’s stock collapsed because of an accounting scandal.

Steinhoff acting CEO repays share-backed loan taken days before plunge

2018-05-04 09:59

Steinhoff International acting CEO Danie van der Merwe has repaid a R26.4m loan backed by company shares that he took out a week before the retailer’s stock collapsed.

Steinhoff pleads to save ‘burning building’

2018-04-22 10:12

Steinhoff International’s acting chairperson likened the retailer to a burning building when the accounting scandal broke four months ago, appealing for shareholder support for an ongoing investigation into the smoldering wreckage.

Video
WATCH: Protesters demand punishment for Steinhoff culprits

A small protest has been staged outside the Cape Town International Convention Centre, where Steinhoff's annual general meeting was live streamed. Watch.

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Lodestone share sale shouldn't be 'one horse race', says Markus Jooste's son-in-law

2018-05-21 19:50

A 'one horse race' with only one bidder would not be in the best interests of shareholders of fast-moving consumer goods business Lodestone, says Markus Jooste's son-in-law Stefan Potgieter.

Parties to meet as Markus Jooste's Mayfair aims to 'offload' Lodestone stake

2018-05-18 18:06

Deliberations are expected soon in the court application by minority shareholders in Lodestone, in a bid to prevent Markus Jooste's Mayfair from selling its shareholding in the company.

How saving Steinhoff became Heather Sonn's 14-hour-a-day mission

2018-05-18 06:20

When things are broken, I want to fix them, says current Steinhoff chairperson Heather Sonn, who, until December, was running a small investment firm in Cape Town.

Steinhoff will wait for an actual lawsuit before deciding the fate of two directors it shares with the fund manager who plans to sue it

2018-05-15 14:46

Coronation on Monday said it was preparing for legal action against Steinhoff on its "accounting irregularities". Which is slightly awkward, considering their shared directors.

Steinhoff to 'vigorously' defend itself against Wiese's R59bn claim

2018-05-11 06:40

Retail group Steinhoff says it will use all the resources at its disposal to defend a claim brought against it by former chair Dr Christo Wiese's entity Titan.

SA labour group calls on Steinhoff acting CEO to quit over loan

2018-05-06 20:00

Steinhoff acting CEO Danie van der Merwe should resign after it emerged he borrowed R26.4m backed by company shares a week before the stock collapsed, says the Federation of Unions of South Africa.

No suspension on JSE yet for volatile Steinhoff 'penny stock'

2018-05-04 20:14

Despite a 5.2% drop in the share price of beleaguered global retailer Steinhoff, the JSE has no plans as of yet to suspend trading.

Steinhoff to meet with lenders to discuss debt

2018-05-03 16:41

Steinhoff plans to meet with lenders in London to discuss debt, Bloomberg reports.

5 things we learned from the Steinhoff annual general meeting

2018-04-20 16:38

Absa's former CEO almost got booted off the supervisory board and forensic investigators found Steinhoff's aggressive deal-making inflated its income and asset value.

This is what it looks like inside Steinhoff's tense annual general meeting

2018-04-20 13:38

Roughly 30 shareholders and shareholders representatives attended a live stream of the meeting in the Cape Town International Convention Centre (CTICC).

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