April 26, 2018 / 1:11 PM / 25 days ago

BRIEF-Companies In Christo Wiese's Titan Group Lodge Claims Of 59 Bln Rand Against Steinhoff

April 26 (Reuters) - TITAN GROUP -

* TITAN GROUP - COS IN CHRISTO WIESE’S TITAN GROUP LODGES CLAIMS OF R59 BILLION AGAINST STEINHOFF

* TITAN GROUP - CLAIMS RELATE TO CASH INVESTMENTS MADE BY THE TITAN GROUP IN STEINHOFF IN 2015 AND 2016.

* TITAN GROUP - SECOND CLAIM RELATES TO GROUP’S CAPITAL INJECTION INTO STEINHOFF IN 2016 TO ENABLE IT TO MEET ITS DEBT OBLIGATIONS AT TIME OF ITS ACQUISITION OF US MATTRESS FIRM

* TITAN GROUP -COMPANIES CLAIM CANCELLATION OF AGREEMENT ENTERED INTO WITH STEINHOFF IN 2015 WHEREBY THE TITAN GROUP SUBSCRIBED FOR SHARES IN STEINHOFF

* TITAN GROUP - WIESE SAID HIS CO FULLY PREPARED TO WORK WITH CLAIMANTS TO ENSURE STEINHOFF REMAINS, CONTINUES AS SUSTAINABLE CO

* TITAN GROUP - IN 2015 TITAN SUBSCRIBED FOR SHARES IN STEINHOFF FOLLOWING ACQUISITION OF PEPKOR; COMPANIES NOW CLAIM REPAYMENT OF SUBSCRIPTION AMOUNT Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below