Agat Ejendomme

AGM Information • May 22, 2013

Annual General Meeting of TK Development A/S on 22 May 2013

Aalborg, Denmark, 2013-05-22 17:49 CEST (GLOBE NEWSWIRE) --

Today the Annual General Meeting of TK Development A/S was held.

Items 1 - 3 on the agenda were considered and adopted in accordance with the
submissions. No divi­dend will be distributed for the 2012/13 financial year.

The Supervisory Board’s proposal set out in item 4.1.1 to reduce the Company’s
share capital by nominally DKK 588,920,010.00 at par from nominally DKK
630,985,725.00 to nominally DKK 42,065,715.00 by an equal writedown of all
shares from DKK 15.00 to DKK 1.00, including to allocate the amount of the
reduction to a special fund, as well as to make the amendments to the Articles
of Association related to the execution of the capital reduction, was adopted.
Moreover, the proposal to authorize the Supervisory Board to notify the Danish
Business Authority of the capital reduction after the expiry of the four-week
time limit stipulated in section 192 of the Danish Companies Act was adopted.

The Supervisory Board’s proposal set out in item 4.1.2 regarding authorization
to increase the Company’s share capital through one or more issues by an amount
of up to DKK 63,098,573.00 (equal to 63,098,573 shares of DKK 1.00 each or 150
% of the share capital as it will be after the capital reduction pursuant to
the proposal in item 4.1.1), as well as to make the amendments to the Articles
of Association resulting from the capital increase, was adopted.

The amendments to the Articles of Association proposed by the Supervisory
Board, as set out in item 4.1.3, including the insertion of a 70-year age limit
for Supervisory Board members, editorial adjustments and a change of format,
were adopted.

The Supervisory Board’s proposal set out in item 4.1.4 to authorize the
Chairman of the Meeting, or any substitute for him, to effect registration of
the proposals adopted, including to make formal changes and additions to the
resolutions adopted by the General Meeting, was adopted.

In accordance with item 5 of the agenda, the proposal for the Supervisory Board
to remain composed of six members was adopted. Niels Roth, Per Søndergaard
Pedersen and Peter Thorsen were re-elected. Arne Gerlyng-Hansen, Morten Astrup
and Kim Mikkelsen were elected as new Supervisory Board members.

Nielsen & Christensen, Statsautoriseret Revisionspartnerselskab, and Deloitte,
Statsautoriseret Revi­sionspartnerselskab, were re-elected as the Company’s
auditors; see item 6 of the agenda.

After the Annual General Meeting, a meeting was held for the purpose of
electing officers, with Niels Roth being re-elected as the Chairman, and Peter
Thorsen being elected as the Deputy Chairman of the Supervisory Board.

TK Development A/S

Niels Roth

Chairman of the Supervisory Board

     Contact details:
     TK Development A/S
     Frede Clausen, President and CEO
     Tel. +45 8896 1010