Update on Unsolicited Offer by Axel Springer AG
15/09/2009 7:01am
UK Regulatory
TIDMSTPS
RNS Number : 0451Z
StepStone ASA
15 September 2009
StepStone ASA - Update on Unsolicited Offer by Axel Springer AG
15 September 2009 - The Board of Directors of StepStone ASA ("StepStone") notes
that Axel Springer AG ("Axel Springer") published the offer document in
connection with its mandatory offer for all outstanding shares in StepStone
(ticker symbols: Oslo Børs: STP, London Stock Exchange: STPS.L) on Friday 11
September 2009 and that the offer period runs from 14 September 2009 to 12
October 2009 (unless extended).
As stated in our press release of 10 September 2009, the Board believes that the
offer for NOK 8.60 per share does not reflect the full value of the business.
The Board, with the assistance of its advisers, is considering and actively
pursuing all available options that can contribute to maximising shareholder
value. The Board will make further public statements with respect to the offer
no later than 5 October 2009. According to the terms of the mandatory offer as
presented in the offer document, any shares tendered for acceptance are binding
and irrevocable and may not be withdrawn. The Board therefore recommends that
shareholders take no further action with regard to accepting the offer until
such statements have been made by the Board.
Oslo, 15 September 2009
The Board of Directors of StepStone ASA
Contact : Ian Cole, CFO,
Tel : + 44 7808 946404
About StepStone
StepStone helps businesses get increased performance from their people, helps
them build and develop global talent pools, and helps people find new jobs that
match their talents. StepStone was founded in Norway in 1996 and listed on the
Oslo Børs (Ticker@ STP.NO) in 2000 and the London Stock Exchange (LSE: STPS) in
2008. For more information see www.stepstone.com
Ends.
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