Offer by Axel Springer AG for StepStone ASA
03 September 2009 - 4:00PM
UK Regulatory
TIDMSTPS
RNS Number : 4413Y
StepStone ASA
03 September 2009
StepStone ASA - notification of interest in shares and Offer for the Company by
Axel Springer AG
The Board of Directors of StepStone ASA ("StepStone") notes that Axel Springer
AG ("Axel Springer") on Wednesday 2nd September 2009 entered into agreements to
acquire shares in StepStone that will increase their holding to an interest of
about 52%. Furthermore, the Board of Directors notes that Axel Springer AG will
proceed with a mandatory offer for the remaining shares in StepStone.
The Board of Directors of StepStone will in the current situation actively
consider and pursue all available options that can contribute to maximizing
shareholder values and ensure equal treatment of shareholders.
StepStone uses Schjodt as legal counsel and ABG Sundal Collier and Panmure
Gordon as financial advisors and all will assist in the current situation.
The Board believes that the value of the individual parts exceeds the value of
the current offer and the company has received an indication of interest in a
part of the company's business that supports this view.
The Board will make a statement with respect to the offer and the share value
shortly after receiving the formal mandatory offer document from Axel Springer
and recommends that the shareholders await any acceptance until such statement
is made.
Oslo, 3 September 2009
The Board of Directors of StepStone ASA
Contact : Ian Cole, CFO,
Tel: + 44 7808 946404
This information is provided by RNS
The company news service from the London Stock Exchange
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