The amendment will allow Carlsberg to double its share capital while the
Carlsberg Foundation retains a voting majority in the company.
The Carlsberg Foundation today submitted an application to the Danish Ministry
of Justice/Civil Affairs Authority for permission to amend section 14, article
1 in its charter which currently stipulates that the Carlsberg Foundation must
always hold at least 51% of the share capital of Carlsberg A/S. The intention
now is to amend this article so that in future the Carlsberg Foundation must
hold at least 51% of the votes and more than 25% of the share capital. This
will allow Carlsberg to strengthen its capital base.
The Foundation's retention of a voting majority will ensure that Carlsberg can
continue as an independent business with the values and well-known brands that
make up an important part of its heritage and identity.
Povl Krogsgaard-Larsen, chairman of the board of both the Carlsberg Foundation
and Carlsberg A/S, comments: “Over the last seven years, Carlsberg has evolved
through acquisitions and organic growth into a major player in the
international brewing industry. However, if Carlsberg is to remain in a
position to take part in the consolidation process, it will be necessary to
create a possibility for the company to substantially increase its capital
base. Therefore, we have concluded that an amendment of the charter allowing
Carlsberg A/S to raise new capital will give the business increased flexibility
to manoeuvre, thereby improving the possibility to create value for
shareholders.”
Nils S. Andersen, CEO of Carlsberg A/S, comments: “Carlsberg today is a
well-consolidated company, showing good progress and with a satisfactory credit
quality. I see a lot of potential for expansion of the existing business
primarily through organic growth and we have no acquisition plans which can't
be financed within the current capital structure. However, with this planned
charter amendment, our largest shareholder, the Carlsberg Foundation, clearly
signals its support to the strategy that Carlsberg has pursued in recent years,
and also that it is prepared to ensure that the company can continue to seize
value-creating opportunities that arise as a result of the ongoing
consolidation of the global beer industry. This is a very positive message for
shareholders, employees and customers alike.”
Povl Krogsgaard-Larsen and Nils S. Andersen stress that there are no plans to
raise new capital, but that the company wishes to have this option should new
demands in the market or interesting acquisition possibilities arise in the
future.
The application was submitted today to the Civil Affairs Authority for final
approval following its hearing in the Royal Danish Academy of Sciences and
Letters, which has to decide on changes to the Carlsberg Foundation's
charter.
Contacts:
Investor Relations: Mikael Bo Larsen +45 3327 1223
Media Relations: Jens Bekke +45 3327 1412
Carlsberg is one of the leading brewing groups in the world, with a large
portfolio of beer and soft drinks brands. Its flagship brand - Carlsberg - is
one of the fastest-growing and best-known beer brands in the world. More than
30,000 people work for Carlsberg at 92 local production sites in 48 countries,
and its products are sold in more than 150 markets. In 2006 Carlsberg sold more
than 100 million hectolitres of beer, which is about 83 million bottles of beer
a day. Find out more at www.carlsberggroup.com.
For further information about the Carlsberg Foundation charter and statutes,
see www.carlsbergfondet.dk or www.carlberggroup.com/heritage.
