Oslo, 31 October 2022. The nomination committee of Sikri Holding ASA proposes that Rolv Erik Ryssdal is elected as new chairperson of the company's board of directors.
Presiding chairperson of the board of directors, Torstein Harildstad, has been instrumental in a critical phase of the company, where Sikri Holding (the Sikri Group) has grown 50% in terms of revenue and expanded the company's geographical footprint under Mr. Harildstad's leadership.
Rolv Erik Ryssdal is a Norwegian citizen, living in Oslo, Norway. He has spent more than 30 years with Schibsted and later Adevinta. He was managing director of Aftonbladet from 1999 to 2005 and held the same position in VG (Verdens Gang) from 2005 to 2008. He became CEO in Schibsted in 2009 and held that position until 2018 when he became CEO of Adevinta, spun out of Schibsted. He led Adevinta's IPO in 2019 and the acquisition of eBay Classifieds Group in 2021, making Adevinta the largest international classifieds company globally. He stepped down from the position as CEO of Adevinta in August this year.
During his tenure as CEO in Schibsted, and later Adevinta, the companies focused on growth and on scaling the Scandinavian business models globally. Schibsted developed from a strong regional player to a global leader in online classifieds. As CEO of publicly listed companies for 13 years, Ryssdal has extensive experience from international capital markets.
Ryssdal has a Master of Science degree from Norwegian School of Management (siviløkonom) and an MBA from Insead in France.
Subject to being elected as the new chairperson, Ryssdal has undertaken to purchase shares in Sikri Holding for a value of NOK 10 million at a price per share of NOK 5.77 (corresponding to the market price of the Sikri share on 28 October 2022) (the "COB Shares"). The purchase price payable for the COB Shares will be in two tranches of which 20% will be payable upon issuance of the COB Shares and with 80% being considered a contingent deferred payment being payable upon the earlier of (i) Ryssdal no longer holding the position as chairperson of Sikri Holding, (ii) upon sale of COB Shares, or (iii) on 28 October 2026. The remaining amount will carry an interest of 3% p.a. The COB Shares will be subject to lock-up until 28 October 2024. Upon payment of the remaining amount as a result of (i) above, Ryssdal is given the right (but no obligation) to sell to Sikri Holding (or someone appointed by Sikri Holding) all of the COB Shares
at a price equal to the lower of (a) the remaining amount and (b) the market value of the COB Shares on the date of leaving his position.
Sikri Holding will convene for an extraordinary general meeting (EGM) for the approval of the above.
For further information, please contact:
Nicolay Moulin, CEO
+47 90 59 19 83