Newcap Holding
Capinordic Bank A/S

Capinordic A/S / 

10.02.2010 13:28

Dissemination of a Adhoc News, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Translation
This text has been prepared in Danish and in English. In case of discrepancies,
the Danish text will prevail. 

Company announcement no. 10/2010

10 February 2010






Capinordic Bank A/S

On 4 February 2010, the Danish Financial Supervisory Authority informed
Capinordic Bank A/S, a subsidiary of Capinordic A/S, that the deadline for
meeting the individual solvency requirement was 10 February 2010, at 12.00
noon. Since 4 February 2010, the management of Capinordic Bank has examined all
the bank's commitments, assets and lawsuits with the assistance of external
advisors. The conclusion of the examination is increased write-downs and
increased provisions for lawsuits. Consequently, Capinordic Bank A/S does not
meet the solvency requirement. At the same time, the management of Capinordic
Bank has attempted to carry out the necessary measures, including the
establishment of the necessary capital resources. This, however, has not been
possible within this very tight deadline. 

At a board meeting today, the board of directors of Capinordic A/S has
re-assessed the situation and has concluded that it is therefore impossible to
make the necessary capital resources available to Capinordic Bank A/S. 

Against this background, the executive board of Capinordic Bank has requested
that the board of directors should file for a suspension of payments. At a
board meeting today, the board of directors has decided to meet the request of
the executive board of Capinordic Bank. Assets are still expected to exceed
liabilities. It is also expected that there will be sufficient funds to cover
the deposits of all customers. 

As a result, Capinordic A/S readjusts its expectations for the Group result for
2009. The Group now expects a loss before tax of DKK 1,275-1,375m, including
value adjustments and write-downs on loans and intangible assets. 


Yours sincerely

Henrik Vad
Chief Executive Officer


For further information please contact:
CEO Henrik Vad
+45 8816 3000, 
+45 2688 8900, 
info@capinordic.com

News Source: NASDAQ OMX



10.02.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Capinordic A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010212570
WKN:          
 
End of News                                     DGAP News-Service
 
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