Newcap Holding
Revised expectations and changes in management
Capinordic A/S / 19.01.2010 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- The Board of Directors of Capinordic A/S revises the Group's performance expectations for 2009 and decides on Senior Management changes Translation This text has been prepared in Danish and in English. In case of discrepancies, the Danish text will prevail. Company Announcement No. 2/2010 19 January 2010 The Board of Directors of Capinordic A/S revises the Group's performance expectations for 2009 and decides on Senior Management changes Due to the poor performance of the banking division, principally significantly lower investment banking fee and commission income relating to green projects, the Board of Directors of Capinordic had to revise its guidance on Net Interest and Fee Income for the full year 2009 from a range of DKK 210-265 million to approximately DKK 170 million, and its guidance of Loss before Taxes (exclusive of market value and translation adjustments, impairment losses on loans and advances and intangible assets) from a range of DKK 65-135 million to a range of DKK 140-170 million. Preliminary estimates of adjusted losses after market value and translation adjustments, impairment losses on loans and advances and intangible assets amount to between DKK 825 million and DKK 875 million for the year. Conscious of the need to address the underperformance of the Group over the last year, the Board has decided to appoint Henrik Vad, as new CEO of Capinordic A/S, in mutual understanding with the former CEO Lasse Lindblad. This appointment will be effective immediately. Henrik Vad, who is currently 49, held the position of Executive Director of Saxo Bank A/S since 1st of March 2008. Prior to that, he was Chief Executive Director of SkandiaBanken A/S, which he set up to become one of the leading Danish banks, ranking among the top twenty largest institutions of the country. Yours sincerely Claus Ărskov Mogens de Linde Bestyrelsesformand Bestyrelsesmedlem Tlf. 3323 1010 Tlf. 4029 6570 News Source: NASDAQ OMX 19.01.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- 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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