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Stock Exchange Announcement No 04/07
Group Executive Management
Peberlyk 4
PO Box 1038
DK-6200 Aabenraa
Tel +45 74 36 36 36
Fax +45 74 36 35 36
direktionen@sydbank.dk
www.sydbank.com
SWIFT SYBKDK22
Sydbank A/S
CVR No DK 12626509, Aabenraa
Date Contact:
22 February 2007
Preben L. Hansen, Deputy Group Chief Executive
Direct tel +45 74 36 20 20
Dear Sirs
Sydbank sells DMK-Holding A/S
Sydbank and ebh bank have agreed that Sydbank's subsidiary, DMK-Holding A/S,
will be sold to ebh bank effective 1 January 2007.
DMK-Holding has conducted its operations under the auspices of Sydbank since
1989 and since 1991 the sole activities of the subsidiary have been the
administration of a portfolio of limited partnerships, which has been
accumulated in the preceding decade. Consequently the subsidiary's activities
are declining in volume and are outside the scope of Sydbank's core business
concept. As ebh bank already administers a number of limited partnerships and
is also a leading intermediary of used partnership share trading an expansion
of its business goals via the acquisition of DMK-Holding is considered to hold
synergy advantages.
The subsidiary is traded at the book value as of 1 January 2007 plus DKK 25.5m.
DMK-Holding contributed a post-tax profit of just under DKK 10m to the Sydbank
Group's profit in 2006.
Yours faithfully
Mogens Asmund
Group Executive Vice President
