The Board of Directors provides the following update with reference to the Voluntary Conditional Public Offer from Bestseller Group with an offer price of DKK 0.20 per. share which will expire on December 10, 2015 at 16 CET.


Operational development
For the period July 1 - September 30, 2015 the company has previously published a quarterly interim update with reference to company announcement no. 39.

The second quarter (1/10 -31/12) has been characterized by a weak sales in October and early November due to mild autumn weather while sales in the second half of November and early December have been good. Stylepits revenue on 'Black Friday' succeeded in posting a 63% growth versus last year with a record high daily turnover level for the company.

EBITDA and cash flows during the quarter are in line with budget levels despite lower sales.


STYLEPIT has incurred a number of non-budgeted extraordinary expenses as a result of the process surrounding the Voluntary Conditional Public Offer including corporate finance advice and costs related to applications to the competition authorities. These costs are estimated to reach DKK 2.5 million.

Business development
STYLEPIT has been working on a number of initiatives but it has not been possible to enter into agreements due to the need for clarification of ownership structure and the future strategy of STYLEPIT. Initiatives that have been in focus include:


• Organisational matters where STYLEPIT has a plan to strengthen a number of functions.
• New market initiatives with initiatives within 'omni-channel'.

• The divestment of property in Poland.

Special circumstances
STYLEPIT is involved in disputes, all of which are derived from circumstances before the beginning of the current financial year. Reference is made to the notes from the Annual General Meeting with reference to company announcement no. 36 of October 5, 2015.

Shareholder matters
Members of the Board of Directors and Management hold shares in the Company. STYLEPIT will receive notification from individual members of the Board of Directors and Management with regards to changes in shareholdings in connection with the Voluntary Conditional Public Offer and this will be published through a company announcement.

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Questions regarding this notice may be addressed to the Chairman of the Board NE Nielsen on mobile no. +45 42 43 33 43 or Managing Director Marc Jeilman on mobile no. +45 20 35 25 80.

STYLEPIT A/S

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