SABC board condemns leaking of document with allegations against GCEO and CFO
Local
-
[LISTEN] Christo Wiese sues Steinhoff for R59bn
Christo Wiese say although he was chairman of Steinhoff, he could not have known all that was going on and has lost a lot of investment money.
-
Christo Wiese calls for forensic probe into Steinhoff
Christo Wiese has announced that his Titan Group is suing Steinhoff for R59 billion to recover money invested in the company in 2015 and 2016.
-
Former chairman Wiese sues Steinhoff for R59 billion
These claims relate to cash investments made by the Titan Group in Steinhoff in 2015 and 2016 and involve both Steinhoff in the Netherlands and here on home soil.
-
Steinhoff settles lawsuit in Germany over ownership of retailer POCO
Steinhoff said that Andreas Seifert entities offered to buy a 50% stake in POCO based on an agreed equity valuation of 532.5 million for the whole business.
-
Steinhoff’s former CEO Jooste gets creditor reprieve
The out-of-court settlement comes after lenders Investec, ABSA and financial group Sanlam had turned to the Cape High Court to liquidate one of the entities that hold Markus Jooste’s wealth.
-
Deloitte to continue as Steinhoff’s external auditors
A massive forensic investigation by PwC has uncovered a pattern of transactions that led to the material overstatement of income and asset values of the group.
-
PwC probe into Steinhoff found pattern of overstatement of income, asset values
The embattled global retailer’s annual general meeting is underway in Amsterdam in the Netherlands, with proceedings being live-streamed to the Cape Town International Convention Centre.
-
Heather Sonn: Steinhoff's key priority to maintain stability
Heather Sonn is addressing the global retailer’s AGM in Amsterdam, in the Netherlands. The proceedings are being live-streamed to the Cape Town international Convention Centre.
-
Johan van Zyl resigns from Steinhoff board
At the same time, Imperial holdings CEO Mark Lamberti has thrown in the towel just days after stepping down from the boards of Eskom and Business Leadership South Africa.
-
Steinhoff raises $314m from stake sale in African unit to help cut debt
The company said it sold 200 million shares via an accelerated bookbuild, reducing its holding to 71.01%.
-
Steinhoff sells 6% of African unit
Its present 77% stake in Steinhoff Africa is worth R50 billion ($4.17 billion) and the deal could bring in about R4 billion, bankers said.
-
Steinhoff accused of ‘malicious compliance’ over Jooste complaint
Steinhoff’s attorney Robert Driman of Werksmans denied the accusation, saying there was no 'open and shut case' to hand over.
-
Jooste to be subpoenaed to appear before Parliament after no-show
Former Steinhoff chief financial officer Ben le Grange is to be given 10 days to confirm that he will also appear or he too will be summonsed.
-
MPs want Steinhoff to shelve planned bonuses for board members
Four parliamentary committees are sitting on Wednesday to probe what led to the catastrophic collapse in the company’s share price late in last year.
-
Former Steinhoff CEO Markus Jooste won't answer questions in Parly, say lawyers
Jooste was invited to appear before a joint meeting on Wednesday of four committees, including those of finance and public accounts.
-
Fedusa requests access to inspect Steinhoff records
The global retailer lost more than 60% of its stock value on the JSE last year after CEO Markus Jooste stepped down amid allegations of accounting irregularities.
-
Steinhoff's Q1 revenue falls, scandal hits working capital
The multinational retailer has been fighting for survival after it discovered accounting irregularities in December which sparked a sell-off that wiped more than $10 billion off its market value.
-
Dutch court rules Steinhoff must amend 2016 accounts
The Enterprise Chamber of the Amsterdam Court of Appeals ruled that Steinhoff must change its accounts to show it held a 50% controlling interest in POCO.
-
Steinhoff: Fedusa to do ‘everything in its power’ to protect pension funds
Steinhoff's share price plummeted last year after CEO Markus Jooste resigned following allegations of fraudulent transactions.
-
Steinhoff withdraws sponsorship of FNB Varsity Cup
This after the company’s share price has plummeted after concerns about fraudulent accounting activities.
-
Steinhoff CFO steps down from post to focus on liquidity
Philip Dieperink will become acting CFO. The furniture retail group says it also plans to hire a debt restructuring expert.
