Published to the NASDAQ OMX Copenhagen via Company News Service on 30 April
2009.
Minutes of Annual General Meeting on 30 April 2009.
1. Election of Chairman of the Meeting.
Klaus T. W. Lund was elected Chairman of the Meeting.
The Chairman declared that the total share capital was present and with the
agreement of the General Meeting, that the General Meeting formed a quorum and
nobody objected to the legality of the General Meeting.
2. The Supervisory Board's review of the Company's operations in the past year.
The consolidated income statement shows a loss before tax of DKK 176.20 million
(2006/07: DKK 115.6 million.) and the consolidated balance sheet shows equity
at 31 December 2008 of DKK 25.2 million (2006/07: DKK 214.0 million).
Operation loss before value adjustments and tax amounts to DKK 15.8 million
which is at the level of the expectations (2006/07: DKK 36.8 million).
The profit for the period has primarily been achieved by value adjustments of
investment properties and debt of net DKK -240.2 million (2006/07: DKK 129.3
million) and negative exchange adjustments of DKK 51.6 million (2006/07: DKK 6
million).
Management considers the financial performance unsatisfactory.
3. Presentation of annual report for adoption.
The audited annual report was presented and adopted unanimously and with all
votes.
4. Resolution to spend profits or cover losses according to the adopted annual
report.
The Supervisory Board recommended that profit for the year be transferred to
next financial year.
The recommendation was adopted unanimously and with all votes.
5. Election of Supervisory Board members.
The full Supervisory Board was up for election. Gunnar Már Petersen (Chairman),
Michael Sheikh, and Klaus T. W. Lund were re-elected.
6. Appointment of auditor.
Deloitte Statsautoriseret Revisionsaktieselskab was re-appointed unanimously
and with all votes.
7. Amendments to the articles of association.
The General Assembly approved unanimously and with all the votes the proposed
change of domicile and the included change to the articles of association.
8. Any other business.
Nobody wished to speak.
The General Meeting was closed.
Please address questions relating to this Notice to Company Secretary Klaus T.
W. Lund on telephone +45 3378 4000.
