Steinhoff settlement should improve investor confidence - analyst
Founder and CEO of justonelap.com Simon Brown believes the judgment handed down in the Western Cape High Court on Steinhoff will see a return on investor confidence.
On Monday morning, the High Court approved Steinhoff's R24 billion settlement, finally putting the matter to bed.
Brown says the ruling will also add some certainty to the company's future.
"The team that was in charge then most obviously Markus Jooste and some of his key individuals have all been exited from the company.
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"There is a new team in place and this will also give some certainty to investors. If I wanted to invest in Steinhoff during this ongoing legal action, you simply don't know which way it would go. The judge could have rejected it. This gives it some certainty you've now new management in place and you have this behind it.
"For Steinhoff investors it does give some confidence. You can now invest in the company based on its abilities instead of worrying about legal consequences."
