At the company’s extraordinary general meeting of 7 October 2010, a decision was made to reduce the company's share capital by nominal DKK 241,633,015.40 from nominal DKK 258,892,516.50 to nominal DKK 17,259,501.10 by allocation to a separate reserve, cf. section 188(1)(3) of the Danish Companies Act. The capital reduction will be carried out at the rate of 100 corresponding to a value of DKK 241,633,015.40. The capital reduction will be carried out by a reduction of the face value of all of the shares issued by the company. The face value of all issued shares will be reduced by nominal DKK 1.40 from nominal DKK 1.50 to nominal DKK 0.10.
Tower Group announced on the 8 October 2010 via the Danish Commerce and Companies Agency's IT system registration and publication the decision to reduce the capital. The time limit has expired and the capital reduction will be executed as no creditors has raised any claim.
Furthermore, the company’s articles of association will be changed accordingly to reflect the capital reduction.
Tower Group A/S
Martin Coté
CEO
Questions regarding this release can be directed to Martin Coté CEO, on tel:
+420 725 716 755.
