SCH Schibsted Asa Class A

Schibsted ASA (SCHA/SCHB) – Mandatory notification of trade: Employee Share Saving Plan

Schibsted ASA (SCHA/SCHB) – Mandatory notification of trade: Employee Share Saving Plan

Schibsted ASA has on 15 June 2020 sold 2,186 treasury B-shares to participants in the Employee Share Saving Plan at a price of NOK 213.40 per B-share (the price is set according to standard procedure for the program two days after the release of Schibsted’s Q1 2020 report, the closing price 08 May 2020). The shares will be transferred to the participants in the coming days. The transaction is related to the first enrollment window in the Employee Share Saving Plan for 2020 for non-Norwegian employees which closed in February 2020, and based on savings made during March 2020.

Shares sold and transferred to primary insider employees are disclosed in the attachment.

After these transactions, Schibsted ASA holds 3,543,657 treasury A-shares and 1,356,851 treasury B-shares.

For more information on the employee share saving plan please refer to the disclosure published 09 April 2014.

Oslo, 16 June 2020

SCHIBSTED ASA

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

Attachment

EN
16/06/2020

Underlying

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Reports on Schibsted Asa Class A

Ole Martin Westgaard
  • Ole Martin Westgaard

Schibsted (Sell, TP: NOK290.00) - Muted growth continues

The Q1 results were above expectations on lower-than-expected costs, while growth continued to be muted. We reiterate our SELL as we continue to find the valuation high relative to growth prospects, but have raised our target price to NOK290 (280) on increased estimates.

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Henrik Bartnes
  • Petter Nystrøm
ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Henrik Bartnes
  • Petter Nystrøm

~20% better on lower cost

Q1: Group EBITDA +17% vs cons on 9% lower cost. Confidence in targets. Cons '25 EBITDA +5%, stock up 5-10%

Ole Martin Westgaard
  • Ole Martin Westgaard

Schibsted (Sell, TP: NOK280.00) - Prisjakt sold at low price

Schibsted has signed an agreement to sell Prisjakt to eEquity for SEK500m. We find the price low, at c40% of our SOTP value, but find it positive that the company continues to simplify its portfolio to focus on Nordic Marketplaces. We expect a slightly negative share price reaction.

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Henrik Bartnes
  • Petter Nystrøm

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