Schibsted ASA (SCH) - Extended agreement regarding financial exposure to Polaris Media
(Thomson Reuters ONE) -
Schibsted has extended an agreement with SEB Enskilda AS regarding financial
exposure to 17,751,236 shares, equal to 36.3% of the shares and votes in Polaris
Media ASA (not taking into consideration the voting limitations stated in the
articles of association). The new agreement is valid as of 30(th) May 2010 and
has a one year maturity. The agreement is based on normal commercial terms, and
implies an interest cost for Schibsted corresponding to three months NIBOR plus
200 basis points, calculated on the basis of NOK 390,527,192.
The background for the transaction is the fact that Schibsted in June 2009
divested 36.3% of the shares and votes in Polaris Media to meet the condition
set by the Norwegian Media Authority to establish Media Norge. As a consequence
of the challenging condition in the stock market, Schibsted entered into an
agreement implying financial exposure to a similar number of shares. The
agreement was approved by the Norwegian Media Authority.
Schibsted ASA holds 3,471,716 shares, equivalent to 7.1% of shares and votes
(not taking into consideration the voting limitations stated in the articles of
association), in Polaris Media ASA.
Schibsted is represented in the Board of Directors of Polaris Media.
Contact person:
Trond Berger, CFO. Mobile: +47 916 86 695
Oslo, 14 April 2010
SCHIBSTED ASA
Jo Christian Steigedal
VP Investor Relations
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1403332]
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Datum: 14.04.2010 - 02:02 Uhr
Sprache: Deutsch
News-ID 1012866
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