Primary insider in Schibsted ASA and Adevinta ASA, Blommenholm Industrier AS, will transfer 607,851 B-shares in Schibsted ASA and 4,320,781 shares in Adevinta ASA to Beltenut AS. After these transfers, Blommenholm Industrier AS will own 30,013,354 B-shares in Schibsted ASA and 38,992,516 shares in Adevinta ASA. Blommenholm Industrier AS also owns 28,541,262 A-shares in Schibsted ASA. Following the transfers, Blommenholm Industrier AS will hold 25.04% of shares outstanding and 26.87% of voting rights in Schibsted ASA and 5.69% of shares outstanding and voting rights in Adevinta ASA.
The transfers are part of an agreement between the Tinius Trust and Blommenholm Industrier AS and Beltenut AS/Jan Nagell-Erichsen to redeem the 50,000 non-voting B-shares in Blommenholm Industrier AS held by Beltenut AS. The agreement was resolved by the General Assembly of Blommenholm Industrier AS on 31 July 2020.
This operation does not impact the voting structure of Blommenholm Industrier AS where the Tinus Trust controls all the votes and it does not lead to any change in the Tinius Trust's ownership strategies for Schibsted and Adevinta.
The shares will be transferred following the expiration of the legally required period set for creditor notification. The transfer of the Adevinta shares will happen after the Extraordinary General Meeting in Adevinta ASA to approve the acquisition of eBay Classifieds Group.
The Tinius Trust and Blommenholm Industrier AS are represented on the Board of Schibsted ASA by Ole Jacob Sunde and Karl-Christian Agerup, and the Board of Adevinta ASA by Terje Seljeseth.
For more information on the Tinius Trust and the redemption of shares, please visit www.tinius.com.
Oslo, 03 August 2020
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act