S in liquidation – Interim report Q1 2014

DGAP-News: Alm. Brand Formue A/S /

09.05.2014 / 12:27

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Copenhagen, 2014-05-09 12:27 CEST (GLOBE NEWSWIRE) -- Highlights of the
attached interim report of Alm. Brand Formue A/S in liquidation for the first
quarter of 2014: 

  -- The company generated a profit of DKK 22.6 million after tax in Q1 2014,
     against a profit of DKK 27.9 million after tax in Q1 2013.
  -- The Q1 performance was mainly attributable to value adjustments of
     equity-related securities, which increased the profit by DKK 21.3 million
     in the first quarter.
  -- The company entered into liquidation at an extraordinary general meeting
     held on 18 March 2014. Prior to the extraordinary general meeting, the
     company had announced that it had sold its entire securities portfolio.
  -- The net asset value per share rose by 6.6% from DKK 125.73 to DKK 133.99 in
     Q1 2014. At 31 March 2014, the price/net asset value was 0.96.
  -- The company has previously announced that it expects to generate
     liquidation proceeds in the amount of DKK 132-134 per share with a nominal
     value of DKK 10 (excluding the company's holding of treasury shares) and
     subject to the ultimate costs of the liquidation. So far, the liquidation
     process has not given rise to any changes to the announced expectation.
  -- If the liquidation progresses according to plan, the liquidation process is
     expected to be completed by the end of September 2014.


         Please direct any questions regarding this announcement to Peter
Ketelsen, liquidator, on tel. +45 70 12 12 11.
News Source: NASDAQ OMX


End of Corporate News

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09.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:    English                
Company:     Alm. Brand Formue A/S  
 
 
             Denmark                
ISIN:        DK0010300276           
 
 
End of News    DGAP News-Service  
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