Schibsted ASA (SCH) – Employee Share Saving Plan 2015 for employees of the Schibsted Group and subscription from primary insider employees
Reference is made to the stock exchange published 9 April 2014 regarding the Schibsted Employee Share Saving Plan.
The plan is continued for 2015. The plan is offered to employees in the Group working for companies where Schibsted’s ownership is more than 50%. The purpose of the plan is to motivate and retain employees as well as to increase the interest for the Group’s results and performance through owning Schibsted shares.
For 2015, the company offers a share saving plan based on an annual savings range of NOK 2,000 – NOK 50,000 (or equivalent in local currency) but maximum 5% of annual gross fixed salary. Employees can enroll and change the savings amount quarterly. The savings amount is deducted from the monthly net salary. The savings amount is used to purchase Schibsted shares quarterly on behalf of the employees. The purchase of shares will take place through DNB on the day or days following publication of the interim accounts. The first purchase will take place after the publication of the Q1 2015 interim report. The purchase price and the number of shares acquired by the company will be reported in accordance with the applicable regulations. Employees will be allocated shares at the purchase price which is the market price on the purchase date (i.e. no discount).
After two years of ownership, the company will allocate one bonus share for every two shares bought in connection with this offer.
Attached to this release is a list of employees that are primary insiders and that have subscribed in the share saving plan for 2015. The subscribed amount disclosed is the total amount in NOK for 2015. Primary insiders cannot change the savings amount quarterly. The purchase price and the number of shares will be reported when allocation is done.
Oslo, 2 March 2015
Anders Christian Rønning
Investor Relations Officer