Annual General Meeting of Schouw & Co.
The company's Annual General Meeting was held today with about 300 people
attending.
Management's review
The Chairman reported, among other things, that the company's performance in
2007 to date has not given rise to any change in the announced profit forecast.
Accordingly, the company projects a consolidated profit before tax for 2007 of
approximately DKK 330 million, net of any value adjustments on the portfolio of
Vestas shares and of the share of the profit from Sjøtroll. The projected
profit before tax equals a 10% improvement over 2006 on a same-activity basis.
Adoption of annual report
The shareholders voted to adopt the annual report and the Board's
recommendation that a dividend of DKK 6 per share be paid as well as the
proposed resolution to discharge the Board of Directors and the Management
Board from liability.
Authorisation to acquire own shares
The proposed resolution from the Board of Directors that, pursuant to section
48 of the Danish Public Companies Act, the Board of Directors be authorised to
allow the company, during the period until the next Annual General Meeting, to
acquire own shares for ownership or as collateral up to an aggregate value of
10% of the company's share capital against consideration was adopted.
Renewal of authorisation to increase the share capital
The resolution proposed by the Board of Directors to renew the authorisation to
increase the share capital was adopted.
Amendments to the Articles of Association
The shareholders in general meeting adopted the Board of Directors' proposal to
amend Article 2(3) and to name VP Investor Services A/S (VP Services A/S),
Helgeshøj Allé 61, P.O. Box 20, DK-2630 Taastrup as the company's registrar and
to amend Article 4(1) pursuant to section 73(2) of the Danish Public Companies
Act..
Election of members to the Board of Directors
Kjeld Johannesen was re-elected to the Board of Directors.
Appointment of auditors
KPMG C.Jespersen, Statsautoriseret Revisionsinteressentskab was reappointed as
the company's auditors.
Any other business.
No other business was considered.
