At the extraordinary general meeting of Alm. Brand Formue A/S held on 9 July
2008, the shareholders resolved to reduce the share capital by a nominal value
of DKK 110,000,000 consisting of class A shares with a nominal value of DKK
10,450,000 and class B shares with a nominal value of DKK 99,550,000 in a
directed share buy-back at a price of DKK 118.70 per share and the payment of a
total of DKK 130,570,000 to certain shareholders. As stated in Announcement No.
10/2008 of 9 July 2008, the capital reduction is subject to the conditions set
out in section 44a (2) (coverage of the share capital and certain reserves) and
section 46 (satisfaction of or security provided for claims announced) of the
Danish Public Companies Act being met.
However, due to recent developments in the global equity and fixed income
markets, the con-ditions set out in section 44a (2) of the Danish Public
Companies Act are currently not met. Accordingly, the capital reduction will
only be implemented if and when the conditions set out on sections 44a (2) and
46 of the Danish Public Companies Act are met. If a capital reduction cannot be
implemented by 10 July 2009, the resolution to go through with the capital
reduction shall lapse.
A separate announcement will be issued if and when the capital deduction is
made.
Please direct any questions regarding this announcement to Henrik Nordam,
Chairman, on tel. +45 35 47 48 49.
Yours sincerely,
Alm. Brand Formue A/S
Henrik Nordam
Chairman
