April 19, 2018 / 7:28 AM / 8 months ago

BRIEF-Steinhoff Africa Star Sees One Unit To Issue Funding Preference Shares

April 19 (Reuters) - Steinhoff Africa Retail Ltd:

* AS PART OF REFINANCING PROCESS, STAR ENVISAGES ONE UNIT WILL ISSUE FUNDING PREFERENCE SHARES TO SOUTH AFRICAN FINANCIAL INSTITUTIONS

* SUBSCRIBERS INDICATED THEY ARE WILLING TO SUBSCRIBE FOR PREFERENCE SHARES WITH AGGREGATE SUBSCRIPTION PRICE OF ABOUT R6 BILLION

* RESOLVED TO SUBMIT SPECIAL RESOLUTION TO OBTAIN AUTHORITY TO PROVIDE A GUARANTEE TO SUBSCRIBERS FOR ISSUER’S CONTRACTUAL OBLIGATIONS

* SUBSCRIPTION CONDITION PRECEDENT IS STAR GUARANTEES ISSUER’S CONTRACTUAL OBLIGATIONS WHICH RELATE TO FUNDING PREFERENCE SHARES TO SUBSCRIBERS Source text for Eikon: Further company coverage:

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