Today the shareholders in Brødrene Hartmann A/S finally adopted the proposal from the Board of Directors to increase the capital and to abolish the company's share classes. The proposal implies that after the increase of capital all shares will have the same rights. Peter Arndrup Poulsen, CEO, states the following about the approval of the proposal to increase the capital: "Our present high gearing means that big investments and further development of the Group requires additional capital. Consequently, we are delighted that the general meeting today has given us the authority to an increase of capital." Erik Højsholt, chairman of the Board of Directors in Brødrene Hartmann A/S, states about the abolishment of the company's share classes: "We have a positive view of the abolishment of the three share classes in the company, partly because it has been a long-term wish among the shareholders to introduce the principle 'one share - one vote', partly because the asymmetrical distribution of votes does not comply with the recommendations for corporate governance." The result for 2007 influenced by turnaround activities At the annual general meeting the Board of Directors and the Executive Board also gave a report of the company's result and activities during the past financial year: Peter Arndrup Poulsen makes the following statement about 2007 in general: "The total performance in 2007 was not satisfactory. But the negative development in earnings has now turned around and several initiatives have been rolled out and have provided a basis for improved earnings going forward." Erik Højsholt states about the result for 2007: "It is our hope that the result shows our shareholders that the present management is cleaning up the company. I think that in 2007 we have shown a determination to act and that we have acted promptly. We will continue doing just that. It is our ambition to bring Hartmann back to a level of earnings which is fair to show our shareholders." Peter Arndrup Poulsen says about the future:" We are beginning to see the results of our efforts, but there is still room for improvement. The fourth quarter ended 2007 on a positive note and the budgets for 2008 look promising. We must definitely increase the earnings in 2008." Brødrene Hartmann A/S will convene an extraordinary general meeting and submit the proposals to increase the capital and to abolish the company's share classes for final approvement as soon as possible. Further information is available from: Erik Højsholt Chairman of the Board of Directors Phone: 45 97 00 00 Mobile: 20 10 65 80 Peter Arndrup Poulsen CEO Phone: 45 97 00 00 Mobile: 51 51 40 69
Proposal to increase the capital and abolish the company's share classes was finally adopted
| Source: Brødrene Hartmann A/S