NOT FOR DISTRIBUTION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
The preliminary result of Schibsted’s rights issue indicate that approximately 38 million new shares, representing approximately 98% of the offered shares, were subscribed for with subscription rights and, additionally, approximately 16 million new shares were subscribed for without subscription rights. Thus, the rights issue is oversubscribed and the underwriting commitments do not need to be utilised.
Through the rights issue Schibsted will receive proceeds amounting to approximately NOK 1,318 million before transaction costs.
The new shares will be allocated according to the principles outlined in the prospectus published on 18 June 2009. Notifications of allocated new shares and the corresponding amount to be paid by each subscriber will be set out in a letter from the VPS, which will be mailed on or about 9 July 2009. Schibsted expect to issue a stock exchange notice announcing the final results of the rights offering prior to the opening of the Oslo Stock Exchange on or about 9 July 2009.
The new shares will be listed on the Oslo Stock Exchange as soon as the share capital increase has been registered with the Norwegian Register of Business Enterprises and the new shares have been registered with the VPS which is expected to be on or about 15 July 2009. The subscribers may not trade the new shares until they have been paid for and registered on each subscriber’s VPS account.
J.P. Morgan and SEB Enskilda acted as Joint Bookrunners for the rights issue.
Trond Berger, CFO. Mobile: +47 916 86 695
Jo Christian Steigedal, VP Investor Relations, Mobile +47 415 08 733, firstname.lastname@example.org
Oslo, July 3 2009
Jo Christian Steigedal
VP Investor Relations
These materials are not an offer for sale of securities. The securities have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. The company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States. Any offering of securities will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.
In any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any member State, the “Prospectus Directive”), this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.
This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) above together being referred to as “relevant persons”). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.