Schibsted ASA has one class of shares, with equal rights linked to each share. Based on Schibsted’s publishing responsibilities and civic role as a media company, Schibsted’s independence and integrity are assured by the limitations on ownership and voting rights stipulated in the company’s articles of association.
Shareholders
Any amendment to the articles of association requires the agreement of more than 75 per cent of the share capital represented at the Annual General Meeting. The same applies to any decision to transfer the rights to publish Aftenposten and VG, etc. The Group’s publishing companies’ articles of association also contain provisions that safeguard these companies’ editorial freedom.
Any shareholder that owns at least 25 per cent of the shares in the company is entitled to appoint one director directly.
Blommenholm Industrier AS controls 27 per cent of the shares in Schibsted ASA. The voting A share in Blommenholm Industrier AS was transferred to the Tinius Trust by Tinius Nagell-Erichsen in May 2006.
Main bodies
The company is organised as a traditional limited public company, with its Annual General Meeting as its supreme authority, a Group board of directors, an external auditor and a chief executive officer as the person ultimately responsible to the Group board of directors. Schibsted is exempt from the rules stipulating that a corporate assembly must be established.