HIGHLIGHTS: • An examination and updated value adjustment of the company assets means that the Board of Directors is downgrading their earnings expectations for 2008 to a negative DKK 260 million. • The equity subsequently amounts to DKK 1,043 million while the company's ratio of self-financing (equity and deferred tax) can presently be calculated as 25 per cent (fixed target: 30 per cent). • The Board of Directors recommends to the general meeting that no dividend be paid for 2008. • At present the Board of Directors expects to break even in 2009 - before value adjustments and profits on the sale of properties. • The change of strategy adopted by the Board of Directors at the end of 2008 has now been translated into a concrete action plan, which is now being implemented and is supported by the financial partners of the company.
Value adjustment reduces results for 2008 - Implementation of new strategy proceeds satisfactorily
| Source: Park Street A/S