JCDecaux completes the acquisition of APN Outdoor

JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announces that the scheme of arrangement between APN Outdoor and its shareholders that was approved by APN Outdoor shareholders on October 15th, 2018 and the Federal Court of Australia (NSW) on October 18th, 2018 (Scheme) was implemented today. Accordingly:

• JCDecaux ANZ Pty Ltd, a wholly owned subsidiary of JCDecaux SA, now holds all of the shares on issue in APN Outdoor;
• the Scheme Consideration of A$6.40 cash for each APN Outdoor share held as at 7:00pm (Sydney time) on October 25th, 2018 has been paid today to Scheme Shareholders (as defined in the Scheme Booklet); and
• the Special Dividend of A$0.30 cash for each APN Outdoor share held as at 7:00pm (Sydney time) on October 22nd, 2018 was paid on October 29th, 2018.

With effect from the implementation of the Scheme, Doug Flynn, Pat O’Sullivan, Jack Matthews, Lisa Chung and James Warburton have resigned as directors of APN Outdoor.
Stephen O’Connor (currently the Chief Executive Officer of JCDecaux Australia), Andrew Hines (currently the Chief Operating Officer of APN Outdoor) and Brendan O’Neill (currently the Chief Financial Officer of JCDecaux Australia) have been appointed as the new directors of APN Outdoor.

Trading in APN Outdoor shares on the Australian Stock Exchange was suspended from the close of trading on October 18th, 2018. APN Outdoor will apply to have quotation of its shares terminated and for APN Outdoor to be removed from the official list of the Australian Stock Exchange with effect from close of trading on November 1st, 2018.

Jean-François Decaux, Co-Chief Executive Officer of JCDecaux, said: “The completion of our acquisition of APN Outdoor represents a significant milestone in our global growth strategy, making Australia our 4th largest market and entering a new attractive market such as New Zealand. JCDecaux is now well positioned to provide a compelling proposition to compete more effectively in the Australian media market where OOH represents only 6% of advertising spend with DOOH’s share being nearly 50%.”