Business News

Schibsted ASA (SCH) – Final approval of Annual Accounts 2008

Friday 27. March 2009 - The Board of Directors of Schibsted ASA has approved the annual accounts 2008. There are no changes in the income statement or equity compared with the preliminary annual figures disclosed 27 February 2009.

Non-current liabilities totalling NOK 1,197 million have been reclassified to current liabilities. The amount represents financial liability related to minority interest put options in the Spanish companies Anuntis Segundamano Holding and InfoJobs. There are no changes compared with earlier communication regarding which put options that are exercised. Nevertheless the whole obligation is classified as current liabilities of classification reasons.
 
The board has decided to propose to the Annual General Meeting 15 May 2009 not to pay a dividend for 2008. Consideration related to the Group’s capital structure in a situation of weak development in the advertising markets so far in 2009 and uncertainty regarding the macro economic development in Schibsted’s markets is the background for the decision. The Group’s dividend policy is maintained, and the recommendation is in line with the policy.