Retail Holdings N.V. Announces $9.00 Per Share Distribution

WILLEMSTAD, Curaçao, Oct. 2, 2017 /PRNewswire/ -- Retail Holdings N.V. (Symbol: RHDGF) -- Retail Holdings N.V. ("Retail Holdings", together with its subsidiaries and affiliates, the "Company"), announced that the Retail Holdings Board of Directors had approved today an initial 2018 distribution of $9.00 per Common Share to Shareholders of record on January 4, 2018, to be paid on or about January 10, 2018. This is in addition to the previously announced $1.00 per Common Share distribution to be paid on or about November 21, 2017 to Shareholders of record on November 17, 2017. The $10.00 in the two distributions will bring the total distribution/dividend amount paid to Shareholders since inception of the program in 2007 to $27.75 per Common Share.

Commenting on the proposed distribution, Stephen H. Goodman, the Company's Chairman, President and CEO, noted, "The $1.00 and $9.00 distributions will together return to shareholders approximately $46.5 million of the $49.1 million in cash now at Retail Holdings corporate that is the result of the Company's recent sale of its majority stake in Singer Sri Lanka and other divestitures, as outlined in the first table below. The funds remaining, plus additional funds anticipated to be received later this year or early in 2018, will cover ongoing Retail Holdings S&A expenses, permit opportunistic repurchases of Retail Holdings shares in the market, and fund a potential further distribution later in 2018. These distributions reflect the implementation of the Company's strategy to maximize and monetize the value of its assets and to return the resulting funds to Shareholders."

Retail Holdings is providing this update, as of September 30, 2017, of the Sewko Divestitures schedule, shown on page 5 of the Company's 2016 Summary Annual Report, dated March 2017, and this update, as of September 30, 2017, of the Valuation at Market schedule, shown on page 6 of that Report.

There can be no assurance that the $128.5 million valuation at market, equivalent to approximately $27.62 per Retail Holdings Common Share will be realized from a public or private market sale of Sewko/or its subsidiaries and the Company's liquidation, in any particular time frame or ever. Among other factors, it should be noted that shares owned by the Company in Singer Bangladesh, equal to 20% of the total shares of Singer Bangladesh outstanding, are restricted as to the remittance of dividends and the proceeds from the sale of these shares; a restriction that the Company is seeking to eliminate or modify. The other shares in Singer Bangladesh and the shares in Singer India and Singer Sri Lanka have no similar restrictions on remittability.

There are no meaningful assets at Retail Holdings that are not reflected in the above schedule. In order to help facilitate the financial restructuring of SVP Worldwide, the owner and licensor of the Singer trademark, and to accelerate the resolution of issues related to the license and the Company's divestiture program, Retail Holdings sold the SVP Notes it owned to SVP for $1.00 in September 2017. This sale had no P&L impact as a full impairment charge was recognized, and the carrying value of the Notes was reduced to zero in two steps during 2015.

About Retail Holdings

Retail Holdings N.V.is a holding company with one principal asset: a 54.1% equity interest in Sewko Holdings Limited ("Sewko"), the parent company of Singer Asia Limited, a distributor of consumer durable products through public subsidiaries in Bangladesh, India and Sri Lanka, with consumer credit and other financial services available to qualified customers. Retail Holdings N.V. has no operating activities other than those carried out through Sewko/Singer Asia. Additional financial and other information about Retail Holdings N.V. may be found at the Corporate/Investor section of the Company's website: www.retailholdings.com. Price quotations for the Company's shares are available on the "Pink Sheets" quotation service under the symbol "RHDGF".

For further information, please contact Amy Pappas at 1-914-241-3404.

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SOURCE Retail Holdings N.V.