Offer by Axel Springer AG for StepStone ASA

 

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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