Dato for ledelsens godkendelse af årsrapporten:2017-08-28
Ledelsespåtegning:
Today, Management has considered and adopted the Annual Report of NORTHCAPITAL HOLDING APS for the financial year 8 July 2016 - 30 June 2017.
The Annual Report is presented in accordance with the Danish Financial Statements Act.
In our opinion, the Financial Statements give a true and fair view of the assets, liabilities and financial position of the Company at 30 June 2017 and of the results of the Company's operations for the financial year 8 July 2016 - 30 June 2017.
The conditions for deselecting an audit of the Financial Statement are met. Hence the Board of directors have
decided to deselect to audit the Financial Statement for the coming financial year.
We recommend that the Annual Report be adopted at the Annual General Meeting.
Copenhagen, 28 August 2017
Executive management
Werner Maria Anton Schmidt
Kim Hersland
CEO CFO
Board of directors
Werner Maria Anton Schmidt
Christian Frederik Harbø Wissum
Kim Hersland
CEO Chairman CFO
Statement by Management on the annual report
Identifikation af den godkendte årsrapport:
Today, Management has considered and adopted the Annual Report of NORTHCAPITAL HOLDING APS for the financial year 8 July 2016 - 30 June 2017.
Management's review
Beskrivelse af virksomhedens væsentligste aktiviteter:The Company's principal activities
Welcome to our 2016/17 Annual Report outlining the financial results of NorthCapital Holding, - a diversified North-European Investment Company with its main focus on the precious stones and diamonds sector. NorthCapital ranges among Europe's largest investors in this field. The Company will in the years ahead continue to focus on this activity.
Incorporated in 2016 NorthCapital Holding ApS serves as holding company for present and future activities of the NorthCapital Group.
In 2017 the Company has started a consolidation process in which a number of activities and existing assets have been transferred to NorthCapital Holding ApS with a view to creating a significant and financially strong entity as the foundation for the NorthCapital Group.
The main activities will be organized and conducted through group entities, most of which will be 100% owned subsidiaries, each representing a specialized line of business.
Besides its main activity within the precious stones & minerals sector NorthCapital Group also have interests in:
Oil & Commodities Trading
Corporate Finance
M&A and Investment Activities
Fine Arts, and
Engineering
Most of NorthCapital's activities take place outside Denmark. In particular the precious stone business requires a substantial presence in Brazil.
Development in Activities and Financial Matters
In the course of the financial year investments have been made in precious stones & raw and cut diamonds
The Company's Income Statement of the financial year 8 July 2016 - 30 June 2017 shows a result of EUR -1. 210. 000 and the Balance Sheet at 30 June 2017 a balance sheet total of EUR 500. 839. 125 and an equity of EUR 348. 790. 000.
Group Restructuring
As a result of a technical restructuring of the group all activities of NorthCapital ApS including all assets and liabilities of NorthCapital ApS have been taken over by NorthCapital Holding ApS in February 2017. NorthCapital ApS is technically under liquidation and a merger with NorthCapital Holding has been agreed. After completion of such merger NorthCapital Holding will reflect the former balance sheet of NorthCapital ApS and own Investment Assets in excess of EUR 500,000,000 and the Equity will equal an expected EUR 350,000,000.
With reference to the Danish Financial Statements Act, Section 11. 1 and in order to present a true and fair view of the company's assets, liabilities, equity and financial position the effect of the merger has been included and reflected in the 2016/17 Financial Statement.
Group Structure
As of the date of presentation of the Financial Statement the Group Structure is as follows:
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