Last Chance Saloon for Steinhoff shareholders - Liebscher says vote now against management or lose €1 500m

Steinhoff shareholders are staring down the barrel after the company's management is approaching the Dutch courts to force through a decision voted down at the annual general meeting. But all is not yet lost, says German Shareholder Association lawyer Dr Marc Liebscher, whose organisation is fighting for Steinhoff's small shareholders. He is urging them to once again vote against the management proposal - and says this will ensure they capture the R30bn (€1.5bn) that they own in the business, in his opinion the true net asset value of the company. The WHOA vote closes on May 24, and should the majority of shareholders go against the management's proposal, Liebscher says his organisation will give its Wall Street-commissioned research to help the Dutch judge rule in shareholders' favour. Liebscher also spoke to Alec Hogg of BizNews about former CEO Markus Jooste's no-show in the German Court a month ago. Learn more about your ad choices. Visit megaphone.fm/adchoices