Schibsted ASA (SCHA/SCHB) - Resolution to issue consideration shares in connection with the acquisition of 9.99% FINN-stake
Reference is made to Schibsted ASA's ("Schibsted") stock exchange announcement made on 26 April 2024 regarding Schibsted's acquisition of 9.99% of Finn.no AS ("FINN") from Polaris Media ASA ("Polaris"). The FINN shares will be acquired from Adresseavisen AS and Polaris Media Nord-Norge AS (together, the "Sellers"), both subsidiaries of Polaris.
In accordance with the transaction agreement entered into between Schibsted and the Sellers, Schibsted will settle the transaction by issuance of new Schibsted B-shares to the Sellers.
Based on the authorisation to increase the share capital in Schibsted granted by the Annual General Meeting on 26 April 2024, the Board of Directors of Schibsted has today resolved to increase the share capital of Schibsted with NOK 4,015,139.50 by the issuance of 8,030,279 B-shares in Schibsted to the Sellers at a subscription price of NOK 311.32 per B-share. The consideration shares are subject to a 90 day lock-up period from date of registration of the share capital increase in the Norwegian Register of Business Enterprises.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
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About Schibsted
Schibsted is a family of digital brands with a strong Nordic position, and more than 5,000 employees. Millions of people enjoy interacting with our companies every day through our online marketplaces such as FINN, Blocket and Oikotie; our media houses including Aftenposten, VG and Aftonbladet; and digital services like Lendo. We also help new promising businesses grow. Our joint mission of empowering people in their daily lives is rooted in the values of our media heritage and a legacy of bold change. At our best, we are a fearless force for change in a society built on trust and transparency.
Schibsted is listed on Oslo Børs and has a sizable investment in Adevinta, a company that was spun off and publicly listed as a separate company on Oslo Børs in 2019.
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