SeLoger.com Announces it Will File a Suit With the Paris Court of Appeal Against the AMF Conformity Decision on the Public Tender Offer Launched by Axel Springer AG

Dec 01, 2010, 06:08 ET from SeLoger.com

PARIS, December 1, 2010 /PRNewswire-FirstCall/ -- The Supervisory Board of SeLoger.com, which met on 30 November 2010, examined the conformity decision made by the AMF on the cash tender offer (the << Offer >>) filed by AS Online Beteiligungs GmbH, a subsidiary of Axel Springer AG.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080131/291759 )

The Supervisory Board reiterates its concern that the terms and conditions of the Offer might relate to an attempt of creeping takeover of SeLoger.com, and also expresses its opposition against the absence of a minimum acceptance threshold in the Offer.

Moreover, the Supervisory Board reaffirms that the Offer price does not reflect the intrinsic value of the Company nor its growth potential, and bases this view on the conclusions of the independent expert's report disclosed in the Company's reply document, which was approved by the AMF on 29 November 2010.

As a consequence, the Company announces that it will file, as soon as possible, a suit against this conformity decision with the Paris Court of Appeal.

Finally, the Company announces that its Supervisory Board will meet in the next few days to discuss various measures, which could in particular require the convening of a General Meeting of its shareholders in order to approve their terms and conditions.

About Seloger.com

SeLoger.com has been the specialist leader of on-line real estate in France for the past 18 years. Its websites are available on any screen (computer, mobile phone and connected TV) and every day millions of French Internet users view the 1.1 million plus property ads posted by estate professionals at any time, from wherever they may be.

Be it a purchase or rental, resale or property development, in France or abroad, a business location or a demeure de charme, everyone can satisfy their property project through one of the Group's 7 websites:

    - http://www.seloger.com
    - http://www.selogerneuf.com
    - http://www.immostreet.com
    - http://www.bellesdemeures.com
    - http://vacances.seloger.com
    - construire.seloger.com
    - http://www.agorabiz.com.

The Group also provides real estate professionals the broadest visibility of their ads with an audience of 3 million unique visitors and close to 15 minutes viewing per visitor via its different websites.

It is also the number-one supplier of Internet websites for real estate agencies and software transaction design for professionals with Pericles (Source: Mediametrie // Nielsen Netratings).

SeLoger.com has been listed on Euronext Paris (compartment B) since 30 November 2006 and is part of the following indexes: SBF 250, CAC MID 100, CAT IT and Euronext 100.

ISIN code: FR0010294595

SOURCE SeLoger.com