Policy on public takeover attempt

The Board of Directors has established an emergency procedure for a public takeover bid from the point in time where the board have a reason to believe that a bid will be received.

The board review the procedure once each year.

The procedure followed by the Board of Directors will enable the shareholders to evaluate the public takeover bid based on correct and specific information on the terms and conditions of the bid.

It is Glunz & Jensen’s opinion that an uninvited public takeover bid is best prevented by a share price, which reflects the future earning potential of the company.