Schibsted ASA (SCHA/SCHB) - Initiation of first tranche of share buyback

09 Sep 2024 09:02 CEST

9.9.2024 09:02:56 CEST | Schibsted | Additional regulated information required
to be disclosed under the laws of a member state

With reference to the capital return package announced on 22 March 2024,
Schibsted ASA ("Schibsted Marketplaces" or the "Company") has on 9 September
entered into a non-discretionary agreement with BNP Paribas to carry out a share
buyback on behalf of the Company.



The share buyback programme is the first out of two tranches, covering purchases
of up to a maximum value of NOK 2 billion. The purchases will be split 50/50 in
nominal terms between A and B shares, buying up to NOK 1 billion for each of the
share classes. The buyback programme will commence on 9 September 2024 and is
planned to be finalised within 2 May 2025. Under the programme, the minimum
price that can be paid per share is NOK 50 and the maximum price is NOK 500.
However, the maximum number of shares to be repurchased under the programme is
capped at 11 million A shares and 11 million B shares. NOK 2 billion is
equivalent to approximately 3% of the issued shares in Schibsted (total issued
shares are approx. 239 million) at the current share price level.



The buyback will be carried out in accordance with the authorisation granted to
the Board of Directors by the Company's Annual General Meeting ("AGM") held on
26 April 2024. The authorisation is valid until the Company's AGM in 2025. For
further information, please see the minutes of the AGM at:
https://schibsted.com/ir/corporate-governance/general-meeting/



BNP Paribas will make its trading decisions independently of the Company. The
execution of any repurchases will depend on market conditions, and the Company
may resolve to terminate the buyback programme before the threshold set out
above is reached.



The purpose of the buyback is to reduce the capital of the Company. Apart from
some shares repurchased under the programme which will be used in the Company's
employee share saving plan and long-term incentive plans, the Company will seek
approval by the Company's AGM for cancellation of the remaining shares
repurchased under the programme.



The share buyback programme is carried out in accordance with the Market Abuse
Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No
2016/1052 ("Safe Harbour Regulation").



This information is made public by Schibsted pursuant to the EU Market Abuse
Regulation and subject to the disclosure requirements pursuant to Section 5-12
of the Norwegian Securities Trading Act.



Schibsted currently owns a total of 2,423,946 A-shares and 3,026,170 B-shares.



Oslo, 9 September 2024

SCHIBSTED ASA

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Catharina Thorenfeldt, Group Treasurer, +47 916 86 692,
catharina.thorenfeldt@schibsted.com
* Malin Ebenfelt, Investor Relations Officer, +47 916 86 710, ir@schibsted.com

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18229364/4946/Download%20announce
ment%20as%20PDF.pdf

More information:
Access the news on Oslo Bors NewsWeb site

627287_Download announcement as PDF.pdf