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Implementation of capital reduction at TCM Group A/S

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TCM Group A/S
TCM Group A/S

COMPANY ANNOUNCEMENT

No. 135/2022

Tvis, 6 May 2022

Implementation of capital reduction at TCM Group A/S

At TCM Group A/S' ordinary general meeting on 5 April 2022, it was finally decided to reduce the company’s share capital from DKK 1,000,000 with DKK 85,770.6 to DKK 914,229.4 by allocation of a special reserve. The capital reduction is related to the company’s holdings of treasury shares.

After expiry of the deadline of the company’s creditors to lodge their claims in the company, cf. S.192(1) of the Danish Companies Act, the company’s Board of Directors has decided to implement the capital reduction, and this has now been registered with the Danish Business Authority.

After the capital reduction, TCM Group A/S’ share capital amounts to nominal DKK 914,229.4 divided into shares of DKK 0.1.

After the capital reduction, TCM Group A/S’ holdings of treasury shares totals DKK 7,500, corresponding to 0.82% of the share capital.

For additional information, please contact:
CEO, Torben Paulin, TCM Group, +45 21 21 04 64

About TCM Group
TCM Group is Scandinavia’s third largest manufacturer of kitchens and furniture for bathrooms and storage. The products are designed and produced in Denmark and rooted in a proud tradition of good quality and good craftsmanship. TCM Group pursues a multi-brand strategy, under which the main brand is Svane Køkkenet and the other brands are Tvis Køkkener and Nettoline. Combined, the brands cater for the entire price spectrum, and are sold through c. 140 dealers in Denmark and the rest of the Scandinavia. TCM Group sells private label kitchens through DIY stores in Denmark and independent kitchen stores in Norway. TCM Group is supplier to the 45% owned e-commerce kitchen business Celebert, which operates under the brands kitchn.dk, billigskabe.dk, Celebert and Just Woods. See www.tcmgroup.dk for more information.

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