On 3 December 2013, the Danish parliament
adopted amendments to the Danish Companies Act and the Danish Financial
Statements Act, enabling companies presenting financial statements in reporting
classes B, C and D to present these in English. Previously, it was only
possible to present annual reports in English, if the reports were also
prepared in Danish (a so-called bilingual annual report).
The general meeting may adopt presentation of
annual reports in English
Under the new section 100a of the Danish Companies
Act, the general meeting may by a simple majority adopt preparation and
presentation of the annual report in English. The resolution must be recorded
in the Articles of Association, which requires no further specific adoption.
Contrary to other amendments to the articles of association, the adoption does
not require the normal double 2/3 majority.
the amendments come into force january 2014
The amendments come into force January 1st 2014 and, consequently, annual reports approved after that date may be
presented in English. This means that it will be possible to present the annual
reports for 2013 in English when adopted by the general meetings in 2014.
As a consequence of the amendments, it will
also be possible to present interim financial reports in English.