JSE LIMITED - General Enforcement of censure and penalties imposed by the JSE on Mr Markus Jooste, former CEO of Steinhoff

General – Enforcement of censure and penalties imposed by the JSE on Mr Markus Jooste, former CEO of Steinhoff

GEN – General – Steinhoff International Holdings N.V.
Enforcement of censure and penalties imposed by the JSE on Mr Markus Jooste, the former Chief Executive 
Officer of Steinhoff International Holdings N.V. ("Steinhoff" or "Company")

The JSE hereby informs stakeholders of the following findings in respect of Mr Jooste:

1.	Stakeholders are referred to the SENS announcement dated 10 January 2023 wherein the JSE imposed a 
	public censure and financial penalties against Mr Jooste.

2.	In brief, and pursuant to its investigation, the JSE decided to impose the following penalties on Mr Jooste:
	2.1	a public censure and the maximum permissible fine of R7 500 000 for Steinhoff's consolidated financial 
		statements for the 2015 and prior financial periods and for the fifteen months ended 30 September 
		2016, which did not comply with IFRS and the Listings Requirements, and was incorrect, false and 
		misleading in material aspects;
	2.2	a public censure and the maximum permissible fine of R7 500 000 for Mr Jooste's breaches of the 
		Listings Requirements in respect of the Steinhoff at Work Transaction; and
	2.3	immediate disqualification from holding the office of a director or officer of a listed company for a 
		period of 20 (twenty) years, for failing to fulfil his duties and responsibilities as the Chief Executive 
		Officer with the necessary due care and skill.

3.	Mr Jooste disagreed with the JSE's decisions, and on 14 December 2022, Mr Jooste applied, in terms of 
	section 231 of the Financial Sector Regulation Act ("FSRA"), to the Financial Services Tribunal ("FST") for an 
	order suspending the decisions of the JSE.  He also applied for the reconsideration of the JSE's decisions in 
	terms of section 230(1) of the FSRA (the "Reconsideration Application"). On 10 January 2023, the suspension 
	application was dismissed, other than in regard to the payment of the fine that the JSE imposed on Mr 
	Jooste, pending the outcome of the Reconsideration Application.

4.	The Reconsideration Application was heard on 18 September 2023.  

5.	On 10 October 2023, the FST dismissed the Reconsideration Application, affirming the validity and 
	enforceability of the censure and financial penalties imposed on Mr Jooste by the JSE.  

6.	In the circumstances, the JSE's decisions to impose a public censure and financial penalties against Mr Jooste 
	for contraventions of the JSE Listings Requirements remain binding and fully enforceable.  Mr Jooste is 
	immediately (i) liable for the payment of the financial penalties imposed and (ii) disqualified from holding the 
	office of a director or officer of a listed company for a period of 20 years.

11 October 2023







Date: 11-10-2023 11:17:00
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