DICK SMITH HOLDINGS LIMITED (ASX.DSH)

name changed to DSHE Holdings Limited

a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued - in this case 2015/16 (Administrators believe that there will not be a recovery sufficient to repay creditors in full. On this basis, there will not be a return of capital to shareholders. Pursuant to Section 104-145 of the Income Tax Assessment Act 1997, administrators declare that they have reasonable grounds to believe that there is no likelihood that shareholders of DSH will receive any distribution in the course of the external administration of the Dick Smith Group.)

On 25 February 2016 the Receivers announced the controlled closure of the Dick Smith business. As part of the controlled closure process the Receivers have today announced the closure of the remaining 195 Australian stores. These stores will be closed progressively between 27 April 2016 and 3 May 2016

On 25 February 2016 the Receivers announced the controlled closure of the Dick Smith business. As part of the controlled closure process the Receivers have today announced the final date for the closure of 53 Australian stores and all remaining New Zealand stores (55). These stores will be closed progressively between 23 April 2016 and 26 April 2016 in Australia and 24 April 2016 and 30 April 2016 in New Zealand.

Australia's largest pureplay online retailer, Kogan.com, has today announced the purchase of the Dick Smith online retail business. Kogan.com will continue the legacy of the Dick Smith brand and run the Dick Smith businesses as an online-only consumer electronics retailer in Australia and New Zealand.

The company is pleased to confirm that it has today issued and allotted 193,374,559 new shares in the Company relating to the $3,867,491.18 raised by the Company under its Prospectus dated 19 January 2016.

Receivers and Managers today announced the closure of the four Move Airport stores located at Sydney International Airport. Approximately 48 staff are employed at the Mo they will be offered the opportunity of redeployment within the remaining Dick Smith store network for the duration of the store closure program. They will also be offered appropriate outplacement support. All Australian employee entitlements will rank as priority unsecured claims ahead of the secured creditors and are expected to be paid in full.

It is anticipated that the closure of the remaining 301 stores in Australia and 62 stores in New Zealand will take approximately 8 weeks. Approximately 2,460 staff will be impacted by the store closures in Australia and approximately 430 in New Zealand.

The Administrators have given notice to ASIC that DSH intends to rely on the relief granted to certain companies under administration in respect of the requirements to report to members or lodge with ASIC audited half yearly financial reports for the period ended 31 December 2015.

The company provides an update to its shareholders. On 25 January 2016, the Administrators filed an application for court orders granting a six month extension of the convening period for the second meetings of creditors for both Australian and New Zealand Dick Smith entities. Orders were made in both Australian and New Zealand courts granting the requested extension, allowing the second meetings of creditors to be held on or before 9 August 2016. The statutory financial reporting obligations of the Dick Smith Entities will remain while the Company is in voluntary administration.

Receivers and Managers to Dick Smith Holdings and associated entities, Mr James Stewart, Mr Jim Sarantinos and Mr Ryan Eagle of Ferrier Hodgson today announced a restructuring of the Group's support office operations based at Chullora in western Sydney.

On 28 January 2016, Orders were made by the Federal Court of Australia granting the requested extension, allowing the second meetings of creditors to be held on or before 9 August 2016.

The Administrators have now filed an application for orders granting an extension of time for the convening period for the second meetings of creditors of the Australian Dick Smith entities. The application has been set down for hearing at 10.15 am on Thursday, 28 January 2016 before the Honourable Justice Yates of the Federal Court of Australia at Sydney. If the orders are granted, the time for the convening period for the second meetings of creditors of each of the Australian Dick Smith entities will be extended up to and including 2 August 2016.

A decision was made to exit the 27 Electronics Powered by Dick Smith concession stores, contained within David Jones department stores across Australia effective from Wednesday 27 January 2016. The exit from the concessions is a necessary step in the restructuring process to assist in ensuring the commercial viability of the Dick Smith Group businesses.

The Administrators intend to file an application within the next week under section 439A and 447A of the Corporations Act 2001 (Cth), for orders granting an extension of time for the convening period for the second meetings of creditors of the Australian Dick Smith entities. If the orders are granted, the time for the convening period for the second meetings of creditors of each of the Australian Dick Smith entities will be extended up to and including 2 August 2016.

The first meetings of creditors of DSH and its Australian subsidiaries have been convened for Thursday, 14 January 2016 at the Wesley Conference Centre, 220 Pitt Street Sydney NSW 2000.

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The proposed activity with Dick Smith announced by Rewardle on 14 December 2015 has not started and in light of recent developments Rewardle is in the process of contacting the receiver to cease the sponsorship. While disappointing, this development will not impact either Merchants, Members or the ongoing operation of the Rewardle business.

On 4 January 2016, Ferrier Hodgson partners, James Stewart, Ryan Eagle and Jim Sarantinos were appointed as Receivers and Managers of Dick Smith Holdings Limited and its subsidiaries.

The securities of Dick Smith Holdings Limited (Company) will be suspended from quotation immediately in accordance with Listing Rule 17.3, following the Company's appointment of a Voluntary Administrator (Joseph Hayes, Jason Preston, William Harris and Matthew Caddy of McGrath Nicol) Security Code: DSH

the Board of Dick Smith Holdings Limited (ASX: DSH; "Dick Smith" or "the Company") has placed the Company into Voluntary Administration.