Topdanmark A/S
Annual General Meeting of Topdanmark – 19 April 2012
Topdanmark A/S 19.04.2012 16:51 --------------------------------------------------------------------------- 19 April 2012 Announcement No. 04/2012 The Annual General Meeting was held in accordance with the published agenda, and the Annual Report including the proposal submitted by the Board of Directors for the appropriation of the result for the financial year was adopted. Accordingly, the AGM adopted the proposal submitted by the Board of Directors for reducing the Company's share capital by a total of 1,075,896 own shares. The reduction in share capital will be at a stock market price of DKK 874.38 per share and a total of DKK 940,738,087 will be transferred from the Company's tied-up capital to its free reserves. After the final implementation of the reduction the share capital will be DKK 137,500,000. Furthermore, the AGM adopted the proposal submitted by the Board of Directors for remuneration of the Board Directors. Knud Vest retired from the Board of Directors. Anders Colding Friis was elected as a new member of the Board of Directors. All the other Board members elected by shareholders in general meeting - Anders Knutsen, Jens Maaløe, Michael Pram Rasmussen, Annette Sadolin and , Søren Thorup Sørensen - were re-elected. The Board of Directors elected Michael Pram Rasmussen as Chairman and Anders Knutsen as Deputy Chairman from among its members. The Company's auditor, Deloitte, Statsautoriseret Revisionspartnerselskab, was re-elected. Topdanmark's profit forecast model for 2012 continues to be DKK 1,150-1,250m (see announcement No. 02/2012) subject to an annual 7.0% return on equities and unchanged foreign exchange rates from the level on 23 February 2012. Furthermore it is assumed that the return on interest-bearing assets hedging the discounted provisions is just sufficient to cover discounting and revaluation of the provisions while the return on the remaining interest-bearing assets is assumed to be 2.89% (risk-free interest rate plus 2.0pp). The expected share buy-back for 2012 also remains unchanged at DKK 1,300m representing a yield of 10.6%. To date in 2012 Topdanmark has bought back own shares of DKK 402m which leaves a balance of DKK 898m of the 2012 programme. Please direct any queries to: Steffen Heegaard, Group Communications and IR Director Mobile +45 4025 3524 News Source: NASDAQ OMX 19.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Topdanmark A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0010259530 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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