At Adevinta, we believe everything and everyone has a purpose in life. Our selection of digital brands unlock the full value in every person, place and thing by creating perfect matches on the world’s most trusted marketplaces.
With trusted brands that enjoy leading market positions, Adevinta operates a resilient business model at the centre of the second-hand economy at the time when consumers are seeking more sustainable and cost-efficient ways to buying products.
Sustainability is in our DNA, and we are recognised as a global sustainability leader by DJSI Europe. By providing marketplaces where people buy and sell second-hand goods, we contribute to the circular economy and help people live more sustainably.
At Adevinta we'll stay ahead of the curve by using innovation, curiosity and technology to develop products that help everyone and everything find new purpose.
We're all about matchmaking, and we take the same approach to hiring. But it's not just about finding the right skills for the job. It's also about making sure the role and the culture are the right match too.
We care about gaining and keeping the trust of our users, customers and stakeholders by acting responsibly, promoting sustainability and protecting the environment.
We invest in companies with tangible traction, a potential to scale beyond their domestic market, and who we can support with more than just financial resource.
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Oslo, 29 October 2019
Further to the stock exchange announcement on 24 October 2019, Adevinta ASA ("Adevinta" or the "Company") will carry out the share issue at par value reserved for the holders of A shares as of 24 October 2019 (the "Rights Issue"). The subscription period will commence today.
Allocation of subscription rights:
The subscription period for the Rights Issue will commence today at 09:00 hours (CET) on 29 October 2019 to 16:30 hours (CET) on 12 November 2019.
Trading in the Subscription Rights:The Subscription Rights will be listed and tradable on the Oslo Stock Exchange from 29 October 2019 to 16:30 hours (CET) on 8 November 2019 under the ticker code "ADE T". The Subscription Rights will thus only be tradable during parts of the subscription Period.
Subscription Rights that are not used to subscribe for New Shares before the expiry of the Subscription Period or sold before 16:30 hours (CET) on 8 November 2019 will automatically lapse.
Underwriting:Skandinaviska Enskilda Banken AB (publ), Oslo branch ("SEB") has committed to subscribe for any New Shares that have not been subscribed for during the Subscription Period for an aggregate amount of up to NOK 760,122.60. SEB will sell the New Shares allocated to it in the market, and the net proceeds of such sale will be distributed to holders of Subscription Rights who have not exercised their rights during the Subscription Period. No payments will be made to shareholders for amounts below NOK 50.
The Subscription Rights will have economic value if the Company's shares trade above the subscription price for the New Shares (NOK 0.20) during the Subscription Period. Eligible Shareholders who do not use their Subscription Rights will experience a dilution of their shareholding in the Company, but may receive monetary compensation through the Underwriting.
The subscription price is NOK 0.20 for each New Share.
Subscription Document:The subscription procedures for the Rights Issue, and the subscription form, are detailed in the attached subscription document for the Rights Issue ("Subscription Document"). Hard copies of the Subscription Document have also been sent to all Eligible Shareholders with known addresses.
Listing and commencement of trading in the New Shares:Subject to timely payment of the entire subscription amount in the Rights issue, the Company expects that the share capital increase pertaining to the Rights Issue will be registered with the Norwegian Register of Business Enterprises on or about 22 November 2019 and that the New Shares will be delivered to the VPS accounts of the subscribers to whom they are allocated on or about the same day. The New Shares are expected to be tradable on the Oslo Stock Exchange from and including 25 November 2019.
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
About Adevinta ASA: Adevinta ASA is the biggest marketplace specialist in Europe. We help our local digital marketplaces thrive through global connections and networks of knowledge. Our marketplaces unlock the full value in every person, place and thing – helping local communities prosper and leaving a positive footprint on the world.
For more information on Adevinta ASA please visit:
For further information, please contact:
Jo Christian Steigedal
IMPORTANT NOTICE TO U.S. SHAREHOLDERS
The share collapse and rights issue described in this document involve securities of a foreign company. The share collapse and rights issue are subject to disclosure requirements of a foreign country that are different from those of the United States.
It may be difficult for you to enforce your rights and any claim you may have arising under the federal securities laws, since the Company is located in a foreign country, and some or all of its officers and directors may be residents of a foreign country. You may not be able to sue a foreign company or its officers or directors in a foreign court for violations of the U.S. securities laws. It may be difficult to compel a foreign company and its affiliates to subject themselves to a U.S. court's judgment.
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