Steinhoff international probe
Shareholders tell Steinhoff to go ahead with restructuring plans
The AGM, the first since the scandal broke just over four months ago, took place in Amsterdam in the Netherlands and was live-streamed to Cape Town.
The IRBA said in December 2017 it would investigate Steinhoff’s auditor following the retail group’s disclosure of accounting irregularities.
The multinational retailer is fighting for survival after it discovered accounting irregularities in December.
Steinhoff executives have been appearing before three committees at Parliament in a one-day meeting aimed at uncovering the origins of the crisis
The government employees’ pension fund was one of Steinhoff’s biggest investors, and is said to have lost billions.
Steinhoff International announced on Tuesday that it's 2015 financial results can no longer be relied upon.
The company is fighting for survival following its disclosure of alleged fraud in Germany that has wiped billions from its market value.
Jooste recently stepped down at Steinhoff amid allegations of fraud.
On Tuesday the retail giant disappointed investors and lenders by disclosing that it was unable to give details on the extent of the alleged fraud at the company.
The global retailer lost about 90% of its stock value on the JSE after CEO Markus Jooste stepped down amid allegations accounting fraud.
Steinhoff is taking 'all necessary steps' to address the audit issues, it added.
Steinhoff lost about 90% of its stock value on the JSE after CEO Markus Jooste stepped down last week amid allegations of fraud.
Yunus Carrim says they want decisive actions by the regulatory body, including the Reserve Bank, the Financial Services Board and Independent Regulatory Board for Auditors.
Steinhoff owns about 25% of PSG, a R60 billion investment holding company, and 39%, or of diversified industrial group KAP Industrial, which is worth around R6.1 billion at current market prices.
Steinhoff is in the middle of an accounting scandal that has wiped off more billions of dollars off its market value.
Shares in South African retailer Steinhoff jumped as much as 40% on Monday.
The furniture retailer has lost over 90% of its stock value on the JSE after CEO Markus Jooste resigned amid allegations of accounting irregularities.
Magda Wierzycka says the value of your savings in your pension fund may have been affected by the Steinhoff scandal.
Steinhoff International lost more than 63% of its stock value on the JSE, a day after CEO Markus Jooste stepped down amid allegations of accounting irregularities.