SCHIBSTED ASA 26.4.2024 06:59:22 CEST | Schibsted | Inside informationSchibsted ASA ("Schibsted") today announced that it has signed an agreement (the "Agreement") to acquire 9.99% of Finn.no AS ("FINN") fromPolaris Media ASA ("Polaris" or the "Seller"). Polaris has been a minority owner in FINN since its incorporation in 2000. The total transaction value in the Agreement isNOK 2.5 billion on an equity basis. Schibsted will settle the transaction by issuance of new Schibsted B-shares to the Seller.Kristin Skogen Lund , CEO of Schibsted, comments: "We are pleased to have reached this agreement with Polaris, ensuring full ownership and control of FINN. This is another step towards simplifying Schibsted's structure and unlocking the company's full potential, following the divestment of our news media operations to theTinius Trust which was announced in December last year." PerAxel Koch , CEO ofPolaris Media , comments: "This brings our initial investment in 2000 ofNOK 5 million in FINN to a new level whereby our shares are exchanged for shares in Schibsted for a total consideration ofNOK 2.5 billion . Schibsted, being a listed company with many of the same attributes as FINN, enables us to continue our exposure to the sector at the same time while improving liquidity of our shareholding at a fair price which solidifies Polaris' financial capability." The subscription price per new B-share will be equal to the average of the volume-weighted average price (VWAP) for the existing B-shares traded on theOslo Stock Exchange for each trading day (i.e. daily VWAP) in the period from and including 19 April to and including3 May 2024 , i.e. five trading days prior to, and five trading days after the signing of the Agreement. Subject to approval of the proposed dividend for 2023 at Schibsted's Annual General Meeting, the daily VWAP shall be reduced withNOK 2.00 during the days before the shares trade ex-dividend on29 April 2024 as announced on7 February 2024 , i.e. from and including 19 April to and including26 April 2024 . The new B-shares will be issued through a separate resolution by the Schibsted Board (the "Board") after the expiry of the five trading days after signing the Agreement. The resolution will be made under the authorisation granted by the Annual General Meeting to the Board to issue B-shares up to 10% of the B-share capital. As such, the issuance of the new B-shares is subject to the renewal of the authorisation by the Annual General Meeting scheduled for today,26 April 2024 . As part of the Agreement, the Seller will undertake not to sell or otherwise transfer (or enter into any agreements similar economic effect) the newly issued Schibsted B-shares for a period of 90 days after closing of the transaction. The shares in the Agreement will be acquired fromAdresseavisen AS and Polaris Media Nord-Norge AS, both subsidiaries ofPolaris Media . AdvisorsCarnegie AS acts as exclusive financial advisor andAdvokatfirmaet Wiersholm AS acts as legal advisor to Schibsted in connection with the Agreement. Oslo,26 April 2024 SCHIBSTED ASA Disclaimer This information is considered to include inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Thisstock exchange announcement was published byJann-Boje Meinecke , at the date and time as set out above. ContactsJann-Boje Meinecke VP, Head of Investor Relations +47 941 00 835 jbm@schibsted.comDaniel Frykholm VP, Head of Group Communication +46 70 206 77 86 daniel.frykholm@schibsted.com Øyvind Vormeland Salte Communication Director,Norway +47 992 39 021 oyvind.salte@schibsted.com ATTACHMENTS Download announcement as PDF.pdf - https://kommunikasjon.ntb.no/ir-files/17847482/3066/4391/Download%20announcement %20as%20PDF.pdf
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