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Report: Sagsnummer X21-BS-47-HP

Report overview

Organization name	COLUMBUS A/S
CVR number	13228345
Sagsnummer	X21-BS-47-HP
Period	2020-01-01 - 2020-12-31
Pages	N/A
Words	N/A
Characters	N/A
Sustainability info

Type	Separate report
UN Global Compact CoP	No UN Global Compact record found for this reporting period
Standards mentioned	Not yet analyzed
Text structure

A sparkline graph showing the number of pages, their relative length and how many times the word 'sustainability' occurs in them:
Documents

AARSRAPPORT (application/xhtml+xml) Includes sustainability reporting	Open
AARSRAPPORT (application/xml) Includes sustainability reporting	Open
AARSRAPPORT_ESEF (application/xml)	Open
ESEF_EXTENSION (application/zip)	Open
Sustainability report

Direct link: http://regnskaber.virk.dk/54382231/amNsb3VkczovLzAzLzQ0LzRlLzVjLzg3LzVlNzAtNGJhZC05ZmY2LTk4NGQxZTljMjExMA.xhtml
Extra info

Assets

Type	Time	Amount	Unit
ifrs-full:Assets	2020-12-31	1640865000	dkk
ifrs-full:Assets	2019-12-31	1654517000	dkk
ifrs-full:Assets	2020-12-31	1235238000	dkk
ifrs-full:Assets	2019-12-31	1211722000	dkk
Revenue

Type	Start date	End date	Amount	Unit
ifrs-full:Revenue	2020-01-01	2020-12-31	1654733000	dkk
ifrs-full:Revenue	2019-01-01	2019-12-31	1761035000	dkk
ifrs-full:Revenue	2020-01-01	2020-12-31	311922000	dkk
ifrs-full:Revenue	2019-01-01	2019-12-31	338482000	dkk
XML

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The two bodi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es the Board m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eeti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng in Dec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ember.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Ext&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;raor-ernance.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Acc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ordingl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y, the Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Direc-are separ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ate, and n&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o one s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;erv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es as mem-dinary&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Board meet&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ings ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e held &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;acc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ording tors&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; cont&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inuousl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onsi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ders &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;the updat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed bers of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; both. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;to need. I&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n 20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;20&lt;span class="ls1a ws0"&gt;, 1&lt;span class="ls0"&gt;4 &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d meeti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ngs wer&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e recom&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mendatio&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ns i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n order t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o determ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ine  held. Al&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;l Board m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ember&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s att&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ended all which ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e rel&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;evant f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or Colum&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;bus, c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onsi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;der-The Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ector&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s is r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;esponsi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ble for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; meetings&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;ing the s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ize,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; owners&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hip str&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ucture,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; natur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e of the over&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;all m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;anagement of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Compa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ny  the Compa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ny and the C&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ompa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nyâs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; busi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;-on behalf&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of the s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;harehol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ders an&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d super&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;-The Exec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;utiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e Board part&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ipates&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in Board ness m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;odel. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;vis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es the Company&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;and the w&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ork&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of the meetings&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in or&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;der to ens&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ure a dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; dia- Exec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;utiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e Board. The E&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;xecut&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e Board is logue and t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hat the Bo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ard of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Direc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s is Each y&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ear, i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n connect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion wi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th the Annual&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; respons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ible f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he day&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;span class="ls1a ws26"&gt;to&lt;/span&gt;-&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;day &lt;span class="_ _2"/&gt;manage-&lt;/span&gt;well i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nform&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed about the o&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;perati&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on of t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Report,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Columbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; A/S pu&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;blis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hes t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he statu-ment.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;Together&lt;span class="_ _2"/&gt; wit&lt;span class="_ _2"/&gt;h the Exec&lt;span class="_ _2"/&gt;utive B&lt;span class="_ _2"/&gt;oard, &lt;/span&gt;Company&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;tory&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; report on Cor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;porat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e Gover&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nance,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; cf&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;. the Board of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ector&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s deter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mines goal&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s  Secti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on 107b of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Danis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h Fina&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ncial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and str&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ategies&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, and appr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oves bu&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dgets&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and In 20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;20&lt;/span&gt;, t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Board of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ector&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s focus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed on Statement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s Ac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;acti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on plans.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;the fol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lowing ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eas:&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;  â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws14"&gt;Cov&lt;span class="_ _2"/&gt;id&lt;span class="ls0 ws0"&gt;-&lt;/span&gt;19&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;Columbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; compl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ies wi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;40&lt;span class="ls0 ws0"&gt; &lt;/span&gt;r&lt;span class="_ _2"/&gt;ecommend&lt;span class="_ _2"/&gt;a-&lt;/span&gt;Boa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;rd of D&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;irecto&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;rs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws6"&gt;Fi&lt;span class="_ _2"/&gt;nancial&lt;span class="_ _2"/&gt; repor&lt;span class="_ _2"/&gt;ting&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;tions&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, does not&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; compl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y with &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;s&lt;span class="_ _2"/&gt;&lt;span class="ls30 ws47"&gt;ev&lt;span class="_ _2"/&gt;en&lt;span class="_ _2"/&gt;&lt;/span&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;rec&lt;span class="_ _2"/&gt;om-&lt;/span&gt;The Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ector&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s in Col&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;umbus A/&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;S â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws6"&gt;Capi&lt;span class="_ _2"/&gt;tal and s&lt;span class="_ _2"/&gt;hare s&lt;span class="_ _2"/&gt;truc&lt;span class="_ _2"/&gt;tur&lt;span class="_ _2"/&gt;e&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;mendat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ions and par&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tly&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; compl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ies wit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h two consi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sts&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of four&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;mem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;bers:&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Ib KunÃ¸e, Sv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;en â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws6"&gt;Or&lt;span class="_ _2"/&gt;ganiz&lt;span class="_ _2"/&gt;ation and ac&lt;span class="_ _2"/&gt;tiv&lt;span class="_ _2"/&gt;iti&lt;span class="_ _2"/&gt;es&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;of the r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ecommendat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ions.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Devi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ations&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; are al&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;l Madsen,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Peter Sk&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ov Hans&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;en and Kar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ina â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws14"&gt;St&lt;span class="_ _2"/&gt;rategy&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;  explai&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ned in the s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatut&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ory&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; repo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;rt&lt;span class="_ _2"/&gt; on Cor&lt;span class="_ _2"/&gt;po-&lt;/span&gt;Kirk&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Ringst&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed. The Board m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;emb&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ers ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws6"&gt;Ri&lt;span class="_ _2"/&gt;sk managem&lt;span class="_ _2"/&gt;ent an&lt;span class="_ _2"/&gt;d inter&lt;span class="_ _2"/&gt;nal c&lt;span class="_ _2"/&gt;ontrol&lt;span class="_ _2"/&gt;s&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt; rate Gov&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ernanc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e for 20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;20&lt;span class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;/span&gt;&lt;/span&gt;accor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ding t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o the elect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed for one y&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ear at&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; a time wit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h the op-â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws14"&gt;Budg&lt;span class="_ _2"/&gt;ets&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt; âcom&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ply or ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;plain pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ipleâ.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;tion f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or re&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;el&lt;span class="_ _2"/&gt;ection.&lt;span class="_ _2"/&gt; &lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt; employ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ment. The Ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ecut&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ive Boa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rd i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s re-  For mor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e detail&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s about t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he member&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the sponsi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ble for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the day&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;span class="ls1a ws26"&gt;to&lt;/span&gt;-&lt;/span&gt;day operat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;and &lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;Sharehold&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ers&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;Two out of t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he four m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;embers&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; elec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ted by&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Board of Di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tors and t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he member&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the manageme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;of&lt;span class="_ _2"/&gt; Columbus&lt;span class="_ _2"/&gt;, inc&lt;span class="_ _2"/&gt;luding s&lt;span class="_ _2"/&gt;tr&lt;span class="_ _2"/&gt;at-&lt;/span&gt;The shareh&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;older&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s have t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he final&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; author&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ity&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the General&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Meet&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing are i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ndepe&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ndent Audit Com&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mitt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ee, s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ee âBoard of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Direc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tors&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; egy, budget&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and tar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;get&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Company&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;over t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he company&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and exer&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;cis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e their r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ight members&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, and no&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ne of the Bo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ard mem-and Exec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;utiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e Boardâ on &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;pa&lt;span class="_ _2"/&gt;ge &lt;span class="ls1f ws2b"&gt;38&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;The Exec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;utiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e Board c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;urrent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ly consi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sts&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of to mak&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e decis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ions at t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Company&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;âs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;bers par&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tici&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;pates&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; 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&lt;/span&gt;Execut&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;ve Board&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;CFO Hans H&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;enrik&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Thrane. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;C&lt;span class="_ _2"/&gt;olumbus&lt;span class="_ _2"/&gt; i&lt;span class="_ _2"/&gt;s in &lt;/span&gt; The Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ector&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s appoints&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ec-utiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e Board and d&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;etermi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nes t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he terms&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;the proc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ess&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of hiri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng a new CEO.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;  &lt;/span&gt; Audit Commi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ttee&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;The indiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;idual Bo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ard an&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d Exec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;utiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e Board Boa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;rd of D&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;irecto&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;rs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; 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The r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;esults&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of the eval&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ua-lumbus A&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;/S rec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e a fixed annu&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al basi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;c mining t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;remun&lt;span class="_ _2"/&gt;erati&lt;span class="_ _2"/&gt;on,&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d takes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; trol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ling is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sues. The Audi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t Comm&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;it&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tee con-tion ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e present&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed and di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;scus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sed at t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he remunerat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion. T&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Chair&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;man of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d into c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onsider&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ation benc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hmark&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s fr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;om other&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;sist&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of Peter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Skov Hans&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;en (Chai&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rman)&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; subseque&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d meeti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;recei&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ves t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;riple bas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ic remuner&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;atio&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n. The compani&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es, r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;espons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ibil&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es and qualif&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ica-and Sven Ma&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dsen. O&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ne of the t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;wo mem- Chairm&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;an of the Au&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dit C&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ommitt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ee rec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eives tions&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="fca ls0 ws0"&gt;. &lt;/span&gt;bers of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Audit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Commi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ttee (&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;Peter Sk&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ov Based on the &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eval&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uation,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; which w&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;as con-and addit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ional r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;emuner&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ation of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; 50% of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the  Hansen)&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; is c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onsider&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed an indep&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;endent ducted i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n 20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls1f ws2b"&gt;20&lt;/span&gt;, it was&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; concl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uded that t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he basic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; remuner&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ation,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and other m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ember&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of In Marc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;2020&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t was annou&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nced t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hat the member.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;work&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of the Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ors and Execu-the Audit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Commit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tee rec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es an addi-Board of Di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tors had r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;educed &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;their&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; fees  tiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e Board is ef&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;fici&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent, and t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hat the com&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;po-tional&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; remunerat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion of 2&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;5% of t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he basi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;c re-by 30% due t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o the C&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;ovi&lt;span class="_ _2"/&gt;d&lt;span class="ls0 ws0"&gt;-&lt;/span&gt;&lt;/span&gt;19 cr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;is. The The task&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Audit Com&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mitt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ee have sit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion of the Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ors is appr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;opri-munerati&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on. In &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;ad&lt;span class="_ _2"/&gt;dit&lt;span class="_ _2"/&gt;ion,&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;pot&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;entia&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;l t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ravel ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;-overv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iew bel&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ow shows&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the tot&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al remun&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;era-been deter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mine&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d in a Term&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of Refer&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ence,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; ate in t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;erms&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of profes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sional&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; experienc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e penses r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;elat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed to board me&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eting&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e re-tion f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or the Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ors in 2020.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;  &lt;/span&gt;which hav&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e been appr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ove&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d by the Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d and relev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ant s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;pecial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; compet&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ences t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o per-imburs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;I&lt;span class="_ _2"/&gt;n additi&lt;span class="_ _2"/&gt;on, the Boar&lt;span class="_ _2"/&gt;d of&lt;span class="_ _2"/&gt; Direc-&lt;/span&gt; of Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ors. The Terms&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of Ref&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;erence ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e form t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he task&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of the Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ors.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;tors&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; may all&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ot share&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;/span&gt;bas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed ins&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;truments&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;f  avail&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;able on the Com&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;pany&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;âs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; websi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;te. The  the Board of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ector&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;cons&lt;span class="_ _2"/&gt;iders&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;pedi- Commit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tee deter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mines&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the meet&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;re-Remunerat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;ent in or&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;der to enc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ourage c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ommon go&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;als&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;  &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _27"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff1"&gt; &lt;/span&gt;quency&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;. I&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n 20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;20&lt;span class="ws6"&gt;, f&lt;span class="_ _2"/&gt;ive m&lt;span class="_ _2"/&gt;eetings&lt;span class="_ _2"/&gt; were held. &lt;/span&gt;&lt;/span&gt;Columbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;â &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;rem&lt;span class="_ _2"/&gt;unerati&lt;span class="_ _2"/&gt;on &lt;span class="_ _2"/&gt;polic&lt;span class="_ _2"/&gt;y deter&lt;span class="_ _2"/&gt;mines&lt;span class="_ _2"/&gt; &lt;/span&gt;for Col&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;umbusâ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s manageme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt an&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d share-Both Audit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Commit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tee memb&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ers&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; attended the fr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ame for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; fixed and v&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ariabl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e remun&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;era-holders&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;.all meet&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ings.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;tion f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or the Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ors and the Ex- ecuti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ve Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls1a ws26"&gt;. &lt;span class="ls0 ws0"&gt; 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of the Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rector&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and Evaluation of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; perfor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mance&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;the Exec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ve Board.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;The Chai&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rman of t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Board is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;res&lt;span class="_ _2"/&gt;ponsi&lt;span class="_ _2"/&gt;ble &lt;/span&gt;â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; 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&lt;/span&gt;&lt;/span&gt;fee&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;Tot&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;the cooper&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ation b&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;etwee&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n the Bo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ard of Di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;-â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws6"&gt;Pr&lt;span class="_ _2"/&gt;omoti&lt;span class="_ _2"/&gt;ng of the l&lt;span class="_ _2"/&gt;ong&lt;span class="ls0 ws0"&gt;-&lt;/span&gt;term&lt;span class="_ _2"/&gt; inter&lt;span class="_ _2"/&gt;ests&lt;span class="_ _2"/&gt; &lt;/span&gt;&lt;/span&gt;rect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ors and the E&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;xecut&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e Board, and t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he and sust&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ainabil&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ity&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of Col&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;umbus and &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;f&lt;span class="_ _2"/&gt;ul-&lt;/span&gt;Board o&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;f Dire&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ctors   &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _9e"&gt; &lt;/span&gt;  &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _3e"&gt; &lt;/span&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _9f"&gt; &lt;/span&gt;  perfor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mance and r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;esult&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Board of fil&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ment of it&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s bus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iness st&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rategy shor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;/span&gt;Ib KunÃ¸e (Chairm&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;an) &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a0"&gt; 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Earning (&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;OTE),&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; whic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h incl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;udes fix&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed sal&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;-an overv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iew &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;and &lt;/span&gt;det&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;aile&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d desc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ripti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on of theFurther&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;more,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; an allowa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nce or&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; reimbur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;se-ary,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; other benef&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;its&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and shor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;/span&gt;term bonus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, total&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; remunerat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eceiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed by eac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h mem-ment of addi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tional&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; cos&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ts rel&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ated to s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tati&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on-for t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he remaini&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng part&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of 2020&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;d&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ue to the ber of t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Board of D&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;irec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tors and of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the ing is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; offer&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed. The fix&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed fee is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; determi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ned Covid&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;span class="_ _2"/&gt;&lt;span class="ls28 ws4a"&gt;19 cr&lt;span class="_ _2"/&gt;is&lt;span class="_ _2"/&gt;is&lt;/span&gt;. &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;The 30%&lt;span class="_ _2"/&gt; reduct&lt;span class="_ _2"/&gt;ion did not&lt;span class="_ _2"/&gt; &lt;/span&gt;Exec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;utiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e Board for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the 2020 fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al based on m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;arket&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; standard her&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eund&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;er apply t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o one&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;/span&gt;off&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; bonuses&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and shar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;based &lt;/span&gt;year w&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ith c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;omparativ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e figur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or past fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;-scope of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; 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&lt;/span&gt;  Tot&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ixed&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &amp;amp; Fix&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed b&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ase   &lt;span xmlns="http://www.w3.org/1999/xhtml" class="fc4 sc0"&gt;  &lt;/span&gt;Spec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial   &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="fc4 sc0"&gt;   &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="fc4 sc0"&gt;  &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="fc4 sc0"&gt;   &lt;/span&gt;Short&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;/span&gt;ter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;m   &lt;span xmlns="http://www.w3.org/1999/xhtml" class="fc4 sc0"&gt;  &lt;/span&gt;Share-base&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;d   &lt;span xmlns="http://www.w3.org/1999/xhtml" class="fc4 sc0"&gt; &lt;/span&gt;variable&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; re&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;mu-DKK Â´000 sal&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ary &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a6"&gt; &lt;/span&gt;Pens&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _37"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws4"&gt;Ot&lt;span class="_ _2"/&gt;her ben&lt;span class="_ _2"/&gt;efit&lt;span class="_ _2"/&gt;s&lt;/span&gt; allo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;wan&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ce &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a7"&gt; &lt;/span&gt;Tot&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al bonus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _7"&gt; &lt;/span&gt;One-&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws49"&gt;off bonus&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;instru&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;men&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ts&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _56"&gt; &lt;/span&gt;Tot&lt;span class="_ _2"/&gt;al &lt;/span&gt;nerat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;io&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n Thomas Hono&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;rÃ©, CE&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;O (un&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;til 27&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; Augu&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;st 2020) &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a8"&gt; &lt;/span&gt;2.541 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a9"&gt; &lt;/span&gt;0 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a4"&gt; &lt;/span&gt;136 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a2"&gt; &lt;/span&gt;0 2.677 0 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _aa"&gt; &lt;/span&gt;2.000 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a4"&gt; &lt;/span&gt;431 2.431 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _aa"&gt; &lt;/span&gt;5.10&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;8 In percent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws0"&gt; &lt;/span&gt;50% 0% 3% 0% 52% 0% 39% 8% 48% 100% Severance&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; pay* &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _ab"&gt; &lt;/span&gt;      7.517 7.517    &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _ac"&gt; &lt;/span&gt;    7.517  Hans Henri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;k Thra&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ne, C&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;FO (Interim CEO&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; &amp;amp; C&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;FO from 28 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;Augus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;t 2020)&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws0"&gt; &lt;/span&gt;2.554 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a9"&gt; &lt;/span&gt;0 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a4"&gt; &lt;/span&gt;204 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a2"&gt; &lt;/span&gt;0 2.758 0 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _aa"&gt; &lt;/span&gt;2.985 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a4"&gt; &lt;/span&gt;431 3.416 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _aa"&gt; &lt;/span&gt;6.17&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;4 In percent &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _88"&gt; &lt;/span&gt;41% &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _ad"&gt; &lt;/span&gt;0% &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _8b"&gt; &lt;/span&gt;3% &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _9f"&gt; &lt;/span&gt;0% 45% 0% &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _ae"&gt; &lt;/span&gt;48% &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _8b"&gt; &lt;/span&gt;7% 55% 100% Total withou&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;t special arrangem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ents &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _31"&gt; &lt;/span&gt;5.095&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a9"&gt; &lt;/span&gt;0 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _af"&gt; &lt;/span&gt;340 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _a2"&gt; &lt;/span&gt;0 5.435 0 4.985 862 5.847 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b0"&gt; &lt;/span&gt;11.282 In percent &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _88"&gt; &lt;/span&gt;45% &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _ad"&gt; &lt;/span&gt;0% &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _8b"&gt; &lt;/span&gt;3% &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _9f"&gt; &lt;/span&gt;0% &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _ae"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff2"&gt;48% &lt;span class="_ _8b"&gt; &lt;/span&gt;&lt;/span&gt;0% &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _ae"&gt; &lt;/span&gt;44% &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _8b"&gt; &lt;/span&gt;8% &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _ae"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff2"&gt;52% &lt;span class="_ _b1"&gt; &lt;/span&gt;100% &lt;/span&gt;* In connection with Thomas HonorÃ©'s resignati&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on, the Board of Directors determined an allowance of DKK 7,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls29 ws38"&gt;517&lt;/span&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls29 ws51"&gt;thousand for the period &lt;span class="ws38"&gt;September&lt;/span&gt;&lt;/span&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls29 ws38"&gt;202&lt;/span&gt;0 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls29 ws51"&gt;to end February 2022. This corresponds to 2019 level &lt;/span&gt; fixed basic salary, on&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;/span&gt;target&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; bonus and other benefits&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;and is thus in accordance with the remuneration policy. The severance pay is expensed in the financial year 2020.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="fc4 sc0"&gt; &lt;/span&gt;5 The statutory report applies for Columbu&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s A/S. Inter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nal cont&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rols and r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;isk man&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ageme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt relat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed to f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; repor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ting&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;The intent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Columbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; A/Sâ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; inter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nal contr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ol sy&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;stem is t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o eliminat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e or mi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tigat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e signi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ficant&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; risks&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; identi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;fied i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n the financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial report&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing, and t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hat mat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;erial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; error&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and in-consi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;stenc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ies i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n the financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eporti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng pro-cess ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e ident&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ified and c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;orr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ected.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Overall&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; contr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ol envir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onment&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;The Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ector&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s has t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;e overal&lt;span class="_ _2"/&gt;l &lt;span class="_ _2"/&gt;re-&lt;/span&gt;sponsi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;bili&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ty for Col&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;umbus A/&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;Sâ i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nternal&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; con-trol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and has&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; approved Gr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oup pol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ici&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es re-lated t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o inter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nal cont&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rols&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, standa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rds and procedur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; reporti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; The Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ector&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s has appoi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nted the Audit Com&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mitt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ee to as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sist&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Board of D&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls1e ws2a"&gt;i-&lt;/span&gt;rect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ors wi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th superv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ising t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e-porti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng proces&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and moni&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing the ef&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;fec-tiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eness&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of the inter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nal c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ontrols&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and risk&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; manageme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ystem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; The respons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ibi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y for mai&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ntaini&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng effi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;cient&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; inter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nal cont&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rols&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and a ris&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;k management&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; syst&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;em in connec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tion wi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e-porti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng lies&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; with t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Execut&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ive Board w&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hich in cooper&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ation wi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th the B&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oard of &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ectors&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; annuall&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y ev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;aluate t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he contr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ol syst&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;em of t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Group. R&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;esponsi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;bili&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ties&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, author&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;it&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ies and procedur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;elati&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng to ess&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ential&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; areas ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e defined i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n a Grou&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;p polic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y whi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ch is ap-proved by&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ors.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Risk asses&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sment&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;The Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ector&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and the Ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ecuti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ve Board ass&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ess&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the risk&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s that&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Columbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; A/Sis ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;posed t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o, incl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uding ri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sks relat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed to thefinanc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eporti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng proc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ess annual&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ly&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; On an ongoin&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;g basi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s, t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Audit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Committ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eemonitor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he effec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tivenes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of the i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nternal&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; cont&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;r&lt;span class="_ _2"/&gt;ols&lt;span class="_ _2"/&gt; for financi&lt;span class="_ _2"/&gt;al repor&lt;span class="_ _2"/&gt;ti&lt;span class="_ _2"/&gt;ng and revi&lt;span class="_ _2"/&gt;ews &lt;/span&gt;and disc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uss&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es mat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;erial and r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;elevant&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; changes t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o acc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ounting pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ples&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, incl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ud-ing impl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ementat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; these.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Control&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; activit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ies and monitor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;All c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ompanies&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in the Col&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;umbus Gr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oup re-port f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al and operat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al dat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;a to the head off&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ice on a m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onthly&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; basi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s. The re-porti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng incl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;udes c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;omments&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to the fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and busi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ness&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; developm&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent. Bas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed on this&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; report&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing the Gr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oupâs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s are cons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;olidat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed and r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eported t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Group man&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;agement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;. As par&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; this pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o-cess,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; monthl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y bus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iness r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eviews&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and con-trol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ling meet&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ings&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; are held,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and contr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ol v&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;is-its&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to all oper&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ational&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; compani&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es in t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Group are per&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;med on an o&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ngoing bas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in order&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to ensur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e that m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ateri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al error&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s in the fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; report&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing are di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ouraged, disc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;over&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed and corr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ect&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;d. &lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt; The need for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; an inter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nal a&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;udit i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s consi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d-ered annual&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ly&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; by the Audi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t Commi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ttee.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; However&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, due to t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he siz&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e of t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Company and the est&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ablis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hed cont&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rol ac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tivi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ties&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Audit Com&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mitt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ee so f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ar consi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ders i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t unnec-essar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y to es&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tablis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h an independ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nter-nal exec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;utiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e audit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; board. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Inform&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ation and communi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;cation&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;Columbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; has im&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;plemente&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d a fo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rmali&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;zed report&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing proc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ess&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; for monthl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; quarterl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y and annual&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; repor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ting as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; well as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; for budg&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;et-ing and for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ecas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ting.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Columbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;â repor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ting m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;anual an&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d other r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e-porti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng inst&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ruc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tions ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;updated &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on an on-going bas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;. All updat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es are c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ommuni-cated t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o the global&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e orga&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nizat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion. All empl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oyees&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; have ac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;cess t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o reporti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng manual&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and ins&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;truc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tions&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Whistl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eblower funct&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;As part&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of the ri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sk manageme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Columbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; has est&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ablis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hed a whis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tle&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;span class="_ _2"/&gt;&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;blowe&lt;/span&gt;r f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;unct&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion for ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;pedient and c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onfi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;denti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al noti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;fic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ation of poss&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ible or&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; suspec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ted wr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ongdoing.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; At the end 20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls1f ws2b"&gt;20&lt;/span&gt;, no c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ases&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; had been repor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ted through t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he whi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;stl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;/span&gt;blower&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; scheme.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;</mrv:CorporateGovernanceReport>
   <mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx-2" id="pp-value-5" xml:lang="en">Pursuant&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to Sec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tion 99b of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the D&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;anish &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;Compani&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es Ac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t, the Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;Direc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tors&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; have set t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;argets&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; for the gender&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; dist&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ribut&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion in Col&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;umbus.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; The tar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;gets ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e 5revi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ewed annual&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ly.  Acc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ording t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o the Danis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h Busi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ness A&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uthor-ity&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;âs guidel&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ines on t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;arget f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;igur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es, poli&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;cies&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and repor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ting on t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he gend&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;er c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;omposit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; In 201&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;9 &lt;/span&gt;the &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;gender di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;st&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ribut&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion at manage-ment lev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;el in C&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;olumbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; A/S cons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tuted 21&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;% women an&lt;span class="_ _2"/&gt;d &lt;/span&gt;79&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;% men.&lt;span class="_ _2"/&gt; At the en&lt;span class="_ _2"/&gt;d of &lt;/span&gt;20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls1f ws2b"&gt;20&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;, the perc&lt;span class="_ _2"/&gt;entage of&lt;span class="_ _2"/&gt; women at&lt;span class="_ _2"/&gt; man-&lt;/span&gt;agement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; level&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; had incr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eased t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;28&lt;span class="ls1b ws4b"&gt;%.  &lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;This m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eans that&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; at the end of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; 2020, C&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o-lumbus r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eached t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he target&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; set i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n 2019 to reach a m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inimum&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;2&lt;/span&gt;5% femal&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e manag-ers by&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the end of 20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;23.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;  &lt;/span&gt; Columbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;has dec&lt;span class="_ _2"/&gt;ided to i&lt;span class="_ _2"/&gt;ncrea&lt;span class="_ _2"/&gt;se t&lt;span class="_ _2"/&gt;he &lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;futur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;target&lt;span class="_ _2"/&gt; to &lt;/span&gt;obt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ain&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;a mini&lt;span class="_ _2"/&gt;mum of &lt;span class="ls0 ws0"&gt;35&lt;span class="ls1b ws27"&gt;% &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;female m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;anagers&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in Col&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;umbus A/&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;S by th&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;e &lt;/span&gt;end of &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;2023.&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt;  &lt;/span&gt;&lt;/span&gt; Pursuant&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to Sec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tion &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;99b&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;Danish F&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;i-nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Statem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents Ac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Columbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; has prepared a&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;stat&lt;span class="_ _2"/&gt;utory&lt;span class="_ _2"/&gt; report on gend&lt;span class="_ _2"/&gt;er di&lt;span class="_ _2"/&gt;s-&lt;/span&gt;tri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;bution as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; part of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the CSR Repor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;2020,&lt;span class="_ _2"/&gt; &lt;/span&gt;which&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;is avai&lt;span class="_ _2"/&gt;lable at&lt;span class="_ _2"/&gt; the Compa&lt;span class="_ _2"/&gt;nyâ&lt;span class="_ _2"/&gt;s corpo-&lt;/span&gt;rate webs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;it&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Columbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; A/S has&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; no &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;diver&lt;span class="_ _2"/&gt;sit&lt;span class="_ _2"/&gt;y and i&lt;span class="_ _2"/&gt;nclu-&lt;/span&gt;sion pol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;icy&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;/span&gt;coveri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng the &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;Compa&lt;span class="_ _2"/&gt;nyâ&lt;span class="_ _2"/&gt;s &lt;span class="ls0 ws0"&gt;G&lt;/span&gt;roup &lt;/span&gt;M&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;anageme&lt;span class="_ _2"/&gt;nt (Boar&lt;span class="_ _2"/&gt;d of Di&lt;span class="_ _2"/&gt;rect&lt;span class="_ _2"/&gt;ors and Ex&lt;span class="_ _2"/&gt;-&lt;/span&gt;ecuti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ve Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d), cf&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;. Secti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on 107d of t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Danish Fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al Stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Act&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls1a ws26"&gt;. &lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt; So far Col&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;umbus has&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; not f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ound it&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; relev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ant with s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;peci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;fic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="ls1f ws2b"&gt;diver&lt;span class="_ _b"/&gt;sity &lt;span class="ls3 ws14"&gt;targets&lt;span class="ws6"&gt;, bes&lt;span class="_ _2"/&gt;ides&lt;span class="_ _2"/&gt; g&lt;/span&gt;en-&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;der dis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;bution,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;for t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Group Mana&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ge-ment&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls1a ws26"&gt;, &lt;/span&gt;s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ince &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;the Company&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt;, &lt;/span&gt;due to i&lt;span class="_ _2"/&gt;ts gl&lt;span class="_ _2"/&gt;obal &lt;/span&gt;str&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ucture&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;,&lt;span class="_ _2"/&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;already&lt;span class="_ _2"/&gt; has a hi&lt;span class="_ _2"/&gt;gh divers&lt;span class="_ _2"/&gt;ity i&lt;span class="_ _2"/&gt;n &lt;/span&gt;terms&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;nat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ionali&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ty, age and ed&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ucat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ional backgr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ound&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;in &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls1e ws2a"&gt;its&lt;span class="_ _2"/&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;Busi&lt;span class="_ _2"/&gt;ness Unit&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;manage-ment&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;. &lt;/span&gt; The compos&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on of the Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Direc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tors&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;s cons&lt;span class="_ _2"/&gt;idered appr&lt;span class="_ _2"/&gt;opri&lt;span class="_ _2"/&gt;ate in t&lt;span class="_ _2"/&gt;erms of&lt;span class="_ _2"/&gt; pro-&lt;/span&gt;fess&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ional ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;peri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ence and rel&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;evant&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;speci&lt;span class="_ _2"/&gt;al &lt;/span&gt;compet&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;encies&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to perf&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;orm t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he tasks&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of the Board of Di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tors.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Columbus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; work&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s wit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h diversi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ty and inc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lu-sion br&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oadly at&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; a global l&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;evel&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;Columbus&lt;span class="_ _2"/&gt;â &lt;/span&gt;people f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ocus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; areas,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;includi&lt;span class="_ _2"/&gt;ng&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;div&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ers&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ity and&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;incl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;usion &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;are descr&lt;span class="_ _2"/&gt;ibed in C&lt;span class="_ _2"/&gt;olumbus&lt;span class="_ _2"/&gt;â CSR&lt;span class="_ _2"/&gt; &lt;/span&gt;Report &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;2020, whi&lt;span class="_ _2"/&gt;ch i&lt;span class="_ _2"/&gt;s avail&lt;span class="_ _2"/&gt;able at t&lt;span class="_ _2"/&gt;he &lt;/span&gt;Company&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;âs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; corpor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ate w&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ebsit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;</mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
   <mrv:StatementOfCorporateSocialResponsibility contextRef="ctx-2" id="pp-value-11" xml:lang="en">In Columbus, we are committed to&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; contribute to the UN Sustainable Development Goals. In &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;2019, we took an important step &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;to focus on five o&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;f the 17 SDGs. In each of &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;the SDG targets, we have&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; formulated our commitment and focus points: Industry, Responsible Gender Decent work &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;and innovation and consumption &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;equality&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;economic growth&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;infrastructure&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;and production&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;Climate action&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;We commi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t to We ensure high&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws0"&gt;-&lt;/span&gt;We help our We redu&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ce We reduce our&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; gender equa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;lity quality wor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;k and customers m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;od-waste genera-environmental&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; and continue&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; to safe wor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;king ernize their in-tion throu&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;gh &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws0"&gt; &lt;/span&gt;footprint glo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;bally increase the conditions for fr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ast&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ruc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e by&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; reduction&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;, recy-by reducing&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; proportion o&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;f women&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; in &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws0"&gt; &lt;/span&gt;our people and&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; we stri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ve&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; to fo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;s-building n&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ew, inn&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ovative di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;gital cling and &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;reuse&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; in our o&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ffices flight trav&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;el, recy&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;cle and o&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;pti-Columbus. te&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;r an i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ncl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;usiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e wo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rkp&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e solutions tha&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;t help our custom-globally. W&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;e develop&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; inno&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;va-mize our consump&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;tion and&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws0"&gt; &lt;/span&gt;where people thriv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;e and grow&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; ers run a sustainab&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;le b&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls5 ws9"&gt;usi&lt;span class="_ _2"/&gt;ness&lt;span class="_ _2"/&gt;.&lt;/span&gt; tive digital&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; solu&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;tions that&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; moni-energy mix&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws0"&gt; &lt;/span&gt;with equal career&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; opportuni&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ties tor, analyse&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; and report produc-for all.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws0"&gt; &lt;/span&gt;tion pat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;terns in&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; order &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;to help our custom&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ers red&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;uce wa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ste and loss in&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; prod&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;uction&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; and &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws0"&gt; &lt;/span&gt;optimize supp&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ly chain to &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws0"&gt; &lt;/span&gt;enable sustainab&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;le produc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;tion patterns.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; Columbus supp&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ort  the UN Global C&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ompact Columbus &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;has been&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; part&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; of the UN G&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;lobal Com&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;pact&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; since 2012, which&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; show&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;s our com-mitment to being&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; socially and environmental&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ly resp&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;onsible. Columbus &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;support&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;s and en&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;-acts ten ge&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;neral pri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;nciple&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;s of corporate&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; social responsi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;bility.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws0"&gt; &lt;/span&gt;These prin&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ciples are&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; base&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;d on internationa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;lly recogni&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;zed con-ventions on&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; human&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; right&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;s, la-bour stand&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ards, environment&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; and anti-corruption&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;. </mrv:StatementOfCorporateSocialResponsibility>
   <sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-2" xml:lang="en">  The Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d of Dir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ector&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and the Ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ecuti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ve In our opi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nion, t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he manag&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ement Board have t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oday&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; cons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;idered an&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d ap-comment&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ary c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ontai&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ns a fai&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls17 ws24"&gt;r re-&lt;/span&gt;proved t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he annual&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; report&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of Colu&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mbus A/&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;S view of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the dev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;elopment of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the for t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial year&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; 01.01.20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;20&lt;span class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;- &lt;/span&gt;&lt;/span&gt;Group's&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the Par&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;entâs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; busi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;-31.12.2&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;020&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;. &lt;/span&gt;ness and f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inanc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial mat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ters&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, the  resul&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ts for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the year and of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the The annu&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al repor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; prepared i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n acc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ord-Parentâ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al posi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tion and ance wit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h Inter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nati&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onal Fina&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ncial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Report&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing the fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; posit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; a whole Standards&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; as ado&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;pted by t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he EU and D&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;an-of the ent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es incl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uded in the ish di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sclos&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ure requi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; list&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed com-consol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;idated f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inanc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tate-panies.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;me&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;nts,&lt;span class="_ _2"/&gt; together&lt;span class="_ _2"/&gt; with a des&lt;span class="_ _2"/&gt;cri&lt;span class="_ _2"/&gt;p-&lt;/span&gt; tion of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the pri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ncipal&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; risks and In our opi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nion, t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he cons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;olidated &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; uncert&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ainti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hat the Gr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oup and stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the paren&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;t&lt;span class="_ _2"/&gt; fi&lt;span class="_ _2"/&gt;nanc&lt;span class="_ _2"/&gt;ial s&lt;span class="_ _2"/&gt;tate-&lt;/span&gt;the Parent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; face.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;ments&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; give a t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rue and fai&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;r view of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the  Groupâs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the Par&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;entâ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; posit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion We rec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ommend the a&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nnual r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e-at 31.12.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;20&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;a&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nd of the r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;esult&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of thei&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;r port f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or adopti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on at the Ann&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ual operati&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ons an&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d cash f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lows&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; for the financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; General M&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eetin&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;g.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;year 20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;20&lt;span class="ls0 ws0"&gt;.&lt;span class="_ _2"/&gt; &lt;/span&gt;&lt;/span&gt;  </sob:StatementByExecutiveAndSupervisoryBoards>
   <arr:OpinionOnAuditedFinancialStatements contextRef="ctx-2" id="pp-value-15" xml:lang="en">We have audi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ted t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;cons&lt;span class="_ _2"/&gt;olidat&lt;span class="_ _2"/&gt;ed &lt;/span&gt;financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents and t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he parent financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;span class="ls2c ws3d"&gt;of &lt;/span&gt;&lt;/span&gt;Columbu&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s A/&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;S&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="ls18 ws7"&gt;for &lt;/span&gt;&lt;/span&gt;the fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; year&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;01.01.202&lt;span class="_ _2"/&gt;0&lt;span class="ls0 ws0"&gt; - &lt;/span&gt;&lt;/span&gt;31.12.2&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;020&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;, whic&lt;span class="_ _2"/&gt;h com&lt;span class="_ _2"/&gt;pris&lt;span class="_ _2"/&gt;e the inc&lt;span class="_ _2"/&gt;ome &lt;/span&gt;stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ement,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;stat&lt;span class="_ _2"/&gt;ement &lt;span class="_ _2"/&gt;of c&lt;span class="_ _2"/&gt;omprehensi&lt;span class="_ _2"/&gt;ve &lt;/span&gt;income,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;balanc&lt;span class="_ _2"/&gt;e sheet&lt;span class="_ _2"/&gt;, st&lt;span class="_ _2"/&gt;atement&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;of changes i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n equity&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ash flow s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and notes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, inc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ludi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;a s&lt;span class="_ _2"/&gt;ummary&lt;span class="_ _2"/&gt; of &lt;/span&gt;signi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ficant&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;acc&lt;span class="_ _2"/&gt;ounting pol&lt;span class="_ _2"/&gt;ici&lt;span class="_ _2"/&gt;es, for t&lt;span class="_ _2"/&gt;he &lt;/span&gt;Group &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;as&lt;span class="_ _2"/&gt; well as&lt;span class="_ _2"/&gt; for&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;the Parent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;. The &lt;/span&gt;consol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;idated f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inanc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he parent f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al st&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;atement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;ar&lt;span class="_ _2"/&gt;e&lt;span class="ls0 ws0"&gt; &lt;/span&gt;prepared &lt;/span&gt;in acc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ordanc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e with&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;/span&gt;Inter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;national&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Financi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al Reporti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng Stan&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dards as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; adopte&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d by&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the EU and &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;addi&lt;span class="_ _2"/&gt;tional&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;req&lt;span class="_ _2"/&gt;uirement&lt;span class="_ _2"/&gt;s &lt;/span&gt;of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Danish F&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al Stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Act&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;. &lt;/span&gt; In our opi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nion, t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws46"&gt;cons&lt;span class="_ _2"/&gt;olidated f&lt;span class="_ _2"/&gt;inanc&lt;span class="_ _2"/&gt;ial &lt;/span&gt;stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the parent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; finan&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;giv&lt;span class="_ _2"/&gt;e a true and fair&lt;span class="_ _2"/&gt; view of&lt;span class="_ _2"/&gt; th&lt;/span&gt;e Groupâs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;and the Par&lt;span class="_ _2"/&gt;ent&lt;span class="_ _2"/&gt;âs&lt;span class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;/span&gt;financ&lt;span class="_ _2"/&gt;ial posi&lt;span class="_ _2"/&gt;tion &lt;/span&gt;at 31.12.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;2020&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;,&lt;span class="_ _2"/&gt; and of t&lt;span class="_ _2"/&gt;he resul&lt;span class="_ _2"/&gt;ts of &lt;/span&gt;t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;heir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; operati&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;an&lt;span class="_ _2"/&gt;d cas&lt;span class="_ _2"/&gt;h flows&lt;span class="_ _2"/&gt; for the fi&lt;span class="_ _2"/&gt;nancial&lt;span class="_ _2"/&gt; &lt;/span&gt;year&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;/span&gt;01.01.20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; - &lt;/span&gt;31.12.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;2020&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="ls1e ws2a"&gt;in&lt;span class="_ _2"/&gt; &lt;/span&gt;&lt;/span&gt;accor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dance wi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th Int&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ernati&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onal Financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Reporti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng Stan&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dards as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; adopte&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d by&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the EU and &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;addi&lt;span class="_ _2"/&gt;tional&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;req&lt;span class="_ _2"/&gt;uirement&lt;span class="_ _2"/&gt;s &lt;/span&gt;of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Danish Fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al Stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Act&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;. &lt;/span&gt;Our opini&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on is c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onsis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tent wi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th our&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; audit book com&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ments&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; issued t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o the Audit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Com-mitt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ee and the Bo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ard of Di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tors.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Our opini&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on is c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onsis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tent wi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th our&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; audit book com&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ments&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; issued t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o the Audit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Com-mitt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ee and the Bo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ard of Di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tors.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;</arr:OpinionOnAuditedFinancialStatements>
   <arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-2" id="pp-value-17" xml:lang="en">We conduc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ted our au&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in acc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ordance with I&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nternat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ional St&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;andar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ds on Audit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing (ISAs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;) &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws14"&gt;and the &lt;span class="ws6"&gt;ad&lt;span class="_ _2"/&gt;diti&lt;span class="_ _2"/&gt;onal requi&lt;span class="_ _2"/&gt;rem&lt;span class="_ _2"/&gt;ents ap-&lt;/span&gt;&lt;/span&gt;plic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;able in Denm&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ark.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Our r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;espons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ibil&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ities under t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hose s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tandards&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and requi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s are fur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ther des&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;cri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;bed in the &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ffb ws2a"&gt;Audi&lt;span class="_ _2"/&gt;tor&lt;span class="_ _2"/&gt;âs&lt;span class="_ _2"/&gt; re-&lt;/span&gt;sponsi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;bili&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ties f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or the audit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of the &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;c&lt;span class="_ _2"/&gt;onsol&lt;span class="_ _2"/&gt;i-&lt;/span&gt;dated fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the pare&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff1 ls0 ws0"&gt; &lt;span class="ls1f ws2b"&gt;se&lt;/span&gt;&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff1"&gt;ction of&lt;span class="_ _2"/&gt; this audi&lt;span class="_ _2"/&gt;-&lt;/span&gt;torâ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s repor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls41 ws6"&gt;We ar&lt;span class="_ _2"/&gt;e in&lt;span class="_ _2"/&gt;dep&lt;span class="_ _2"/&gt;end&lt;span class="_ _2"/&gt;ent &lt;span class="_ _2"/&gt;of t&lt;span class="_ _2"/&gt;he &lt;/span&gt;Group&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _b"/&gt;&lt;span class="ls41 ws6"&gt;in acc&lt;span class="_ _2"/&gt;ord&lt;span class="_ _2"/&gt;anc&lt;span class="_ _2"/&gt;e wit&lt;span class="_ _2"/&gt;h t&lt;span class="_ _2"/&gt;he &lt;span class="ws5e"&gt;Int&lt;span class="_ _2"/&gt;e&lt;span class="_ _2"/&gt;rnati&lt;span class="_ _2"/&gt;o&lt;span class="_ _2"/&gt;nal &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;Eth&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ics Standa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;rds Board o&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;f Accountan&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ts' Cod&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e of Et&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;Prof&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ess&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;io&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nal Ac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ount&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ants&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; (&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls42 ws5f"&gt;IESBA Code&lt;/span&gt;) &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls41 ws5e"&gt;and the &lt;span class="ws6"&gt;addi&lt;span class="_ _2"/&gt;ti&lt;span class="_ _2"/&gt;onal r&lt;span class="_ _2"/&gt;eq&lt;span class="_ _2"/&gt;uir&lt;span class="_ _2"/&gt;e-&lt;/span&gt;&lt;/span&gt;ments app&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;licab&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;le in Denma&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;rk, and &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls41 ws46"&gt;we have &lt;/span&gt;fulf&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ill&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed o&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ur &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;other&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; et&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;esp&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ibi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ies&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in ac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;-cord&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;anc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e wi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e re&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;quir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;em&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3"&gt;We be-&lt;/span&gt;liev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e that t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he audit ev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;idenc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e we have ob-tained i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s suf&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;fici&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent and appropr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ia&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;te to pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o-vide a bas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; for our opi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nion.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; To the best&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of our k&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nowledg&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e and bel&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ief,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; we have not pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ovi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ded any&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; prohibi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ted non&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;-&lt;/span&gt;audit s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;erv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ices as r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eferred t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o in Art&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;icle 5(&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;1) of Regulat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion (EU&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;) No 537/&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;2014&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; We were app&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ointed a&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;udit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ors of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;Columbus &lt;/span&gt;A/S&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="ls3 ws6"&gt;for&lt;span class="_ _2"/&gt; the fir&lt;span class="_ _2"/&gt;st ti&lt;span class="_ _2"/&gt;me on &lt;span class="ws14"&gt;20.03.19&lt;span class="_ _2"/&gt;98&lt;/span&gt;&lt;/span&gt; &lt;span class="ls3 ws6"&gt;for&lt;span class="_ _2"/&gt; the &lt;/span&gt;&lt;/span&gt;financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial y&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ear &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;1998&lt;span class="ls0 ws0"&gt;. &lt;/span&gt;&lt;/span&gt;W&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e have be&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;en reap-pointed a&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nnuall&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y by&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; decisi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on of the gener&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al meeting f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or a tot&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ontiguous&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; engageme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt period of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;21&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;year&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s up to and i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ncludi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng the financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial y&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ear &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;2020&lt;span class="ls0 ws0"&gt;. &lt;/span&gt;&lt;/span&gt;</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
   <arr:KeyAuditMattersAudit contextRef="ctx-2" id="pp-value-19" xml:lang="en">Key audit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; matt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ers ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e thos&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e matters&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; that, in our pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ofess&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ional&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; judgement,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; wer&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e of most&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;signif&lt;span class="_ _2"/&gt;icanc&lt;span class="_ _2"/&gt;e in our&lt;span class="_ _2"/&gt; audit of&lt;span class="_ _2"/&gt; the con-&lt;/span&gt;soli&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dated fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; st&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;atements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the par-ent fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; for the f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; year&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;/span&gt;01.01.20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;20 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;â &lt;/span&gt;31.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;12.2020&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;.&lt;span class="_ _2"/&gt; Thes&lt;span class="_ _2"/&gt;e mat-&lt;/span&gt;ters&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; were addr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;essed i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n the c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ontext of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; our audit of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the cons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;olidat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e-ments&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;pare&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; as a whole,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and in for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ming our&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; opini&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on thereon,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and we do &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;not prov&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ide a s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eparate opinion o&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n these m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;atter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;Carrying value of &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;goodwill &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0"&gt; &lt;/span&gt; How the matt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;er wa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;s address&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ed &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Revenue recognition, &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;includ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ing the&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0"&gt; &lt;/span&gt; How the matt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;er wa&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;s address&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;ed &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;in our audit valuation &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3e"&gt;and recognition &lt;span class="_ _b"/&gt;of w&lt;span class="_ _b"/&gt;ork &lt;span class="ls0"&gt; &lt;/span&gt;&lt;/span&gt;in our audit in progress        Refer&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to Not&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e 11 in the&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;c&lt;span class="_ _2"/&gt;onsol&lt;span class="_ _2"/&gt;idated &lt;/span&gt;In ass&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;essi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng the val&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uation of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; goodwill&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; we Refer t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o Notes 3,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; 4 and 16&lt;span xmlns="http://www.w3.org/1999/xhtml" class="fc7 ls0 ws0"&gt; &lt;/span&gt;in t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he We test&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed the rel&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;evant i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nternal&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; control&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents. obtaine&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d and ev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;aluated Ma&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nage&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mentâ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s consol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;idated f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inanc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s. work&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in progr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ess primar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ily r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;elat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing to  futur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e cas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h flow for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ecasts&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; for each C&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ash  contr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;act&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; acceptanc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e and term&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s, change At 31 Dec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ember 2020&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;the car&lt;span class="_ _2"/&gt;ry&lt;span class="_ _2"/&gt;ing value&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="fc4 sc0"&gt; &lt;/span&gt;Generati&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng Uni&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t (â&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;CGUâ),&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the Recognis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed cons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ultanc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;evenue bas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed orders&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, moni&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tori&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng of proj&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ect devel&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;opment&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, the Groupâ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s good&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;will&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; for c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ontinued underl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;yi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng process&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; by whic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h they w&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ere on the st&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;age of com&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;pleti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on meth&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;od costs &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws14"&gt;inc&lt;span class="_ _2"/&gt;urred&lt;/span&gt;, &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws14"&gt;es&lt;span class="_ _2"/&gt;timated&lt;/span&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls1f ws2a"&gt;cost&lt;span class="_ _b"/&gt;s to&lt;span class="_ _b"/&gt; &lt;/span&gt;operati&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ons was &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;DKK 77&lt;span class="_ _2"/&gt;7.0&lt;span class="ls0 ws0"&gt; &lt;span class="ls1e ws2a"&gt;million&lt;/span&gt;&lt;/span&gt;, and for&lt;span class="_ _2"/&gt; &lt;/span&gt;drawn up inc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ludin&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;g the mat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hemat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ical&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; amount&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed to DKK 1,315&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;.8 &lt;span class="ls1e ws44"&gt;million in 20&lt;span class="_ _b"/&gt;&lt;span class="ls3 ws14"&gt;20&lt;span class="ls0 ws0"&gt;. &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;completion&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;and ass&lt;span class="_ _2"/&gt;ess&lt;span class="_ _2"/&gt;ment of&lt;span class="_ _2"/&gt; provi&lt;span class="_ _2"/&gt;sion&lt;span class="ls0 ws0"&gt;s &lt;/span&gt;&lt;/span&gt;disc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ontinued op&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;erat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ions &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;was D&lt;span class="_ _2"/&gt;KK 81.7 &lt;/span&gt;accur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;acy of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the cash f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;low models,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and At 31 December&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; 20&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;20&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;the car&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ry&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing value of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="fc4 sc0"&gt; &lt;/span&gt;for s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;pecifi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;c projec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t risks&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;.  mill&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion, t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;otal am&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ount of DKK 858&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;.7 mi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lli&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on. reconc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iled f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;utur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e growth,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; investm&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent and the Groupâs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; work&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in progr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ess amount&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o  Annuall&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; an impair&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ment t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;est is perfor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;med. margin as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sumpt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ions&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to the l&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;atest Boar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d a net liability&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="ls2 ws7"&gt;of DKK &lt;/span&gt;4&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3"&gt;.9 mill&lt;span class="_ _2"/&gt;ion or &lt;/span&gt;From mana&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;gement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;w&lt;/span&gt;e obtain&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed an  approved b&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;udget&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ecasts&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;recogni&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sed as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sets&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of DKK &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws14"&gt;14.7&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;mill&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion and overv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iew of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Groupâs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; consul&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tancy The deter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;minat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion of the rec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;over&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;able  liabilities&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt; of DK&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;K 19.6&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="ls1e ws2a"&gt;million &lt;/span&gt;&lt;/span&gt;contr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;acts&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in progr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ess at 31 Dec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ember amount&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; was bas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed on the indi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;vidual&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; CGU For each C&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;GU, we ev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;aluated t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he corr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;espondi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng to the c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ontrac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t v&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;alue of 2020&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="ls3 ws6"&gt;as well as&lt;span class="_ _2"/&gt;&lt;/span&gt; &lt;span class="ls3 ws6"&gt;compl&lt;span class="_ _2"/&gt;eted cont&lt;span class="_ _2"/&gt;ract&lt;span class="_ _2"/&gt;s &lt;/span&gt;&lt;/span&gt;and the Disc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ounted C&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ash Fl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ow&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;Model &lt;/span&gt;appropr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iatenes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; key mar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ket relat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed work&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in progr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ess of DK&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;K 45&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;.9 &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;mill&lt;span class="_ _2"/&gt;ion and &lt;/span&gt;during t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he year.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Based on pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ojec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t risk&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and (DCF&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="ls3 ws6"&gt;model)&lt;span class="_ _2"/&gt;. Signi&lt;span class="_ _2"/&gt;fic&lt;span class="_ _2"/&gt;ant judgem&lt;span class="_ _2"/&gt;ent is&lt;span class="_ _2"/&gt; &lt;/span&gt;&lt;/span&gt;assum&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ptions&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in Manageme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ntâs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; valuat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion progres&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s bi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lli&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng of DKK 50&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;.8 &lt;span class="ls1e ws2a"&gt;million&lt;span class="_ _b"/&gt;. &lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;materi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;alit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y, &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;we sel&lt;span class="_ _2"/&gt;ected a sam&lt;span class="_ _2"/&gt;ple of &lt;/span&gt;requir&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed by M&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;anageme&lt;span class="_ _2"/&gt;nt in det&lt;span class="_ _2"/&gt;erm&lt;span class="_ _2"/&gt;ining &lt;/span&gt;models&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; incl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uding disc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ount &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rates&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and  projects &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;for whic&lt;span class="_ _2"/&gt;h&lt;span class="ls0 ws0"&gt; &lt;/span&gt;we obtai&lt;span class="_ _2"/&gt;ned the &lt;/span&gt;value-&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls1e ws2a"&gt;in&lt;/span&gt;-&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;use inc&lt;span class="_ _2"/&gt;luding c&lt;span class="_ _2"/&gt;ash fl&lt;span class="_ _2"/&gt;ow &lt;/span&gt;termi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nal grow&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th rat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es. 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based on fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; budget&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; reasonabl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;enes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of M&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;anagement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;âs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; futur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e Manageme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt in det&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ermi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ning &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;the &lt;span class="_ _2"/&gt;&lt;/span&gt;st&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;age of orders&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, original budget&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, proj&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ect repor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ts 2021 &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;and fina&lt;span class="_ _2"/&gt;nci&lt;span class="_ _2"/&gt;al&lt;/span&gt; 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2024&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;, disc&lt;span class="_ _2"/&gt;ount r&lt;span class="_ _2"/&gt;ate and growt&lt;span class="_ _2"/&gt;h rate i&lt;span class="_ _2"/&gt;n the &lt;/span&gt;margin i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ncl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uded in the c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ash fl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ow for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ecasts&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; projec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t inc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;luding as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sess&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ment of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; provis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ions&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and overv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iew of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the ri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sk and termi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nal peri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;od. in li&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ght of t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he hist&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;orical ac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;cur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;acy of suc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h for s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;pecifi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;c projec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t risks&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;. corr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;espondi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng ris&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;k prov&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ision per&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; contr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;act.   forec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;asts&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the cur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rent oper&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ational   resul&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ts.  Due to the esti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mates&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;ass&lt;span class="_ _2"/&gt;ociated wi&lt;span class="_ _2"/&gt;th &lt;/span&gt;For the s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;elec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ted contrac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ts, we test&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed and Intangi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ble ass&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ets&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; are cons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ider&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed to be a key audi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t mat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ter due t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o the judgement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;  determi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ning the &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;st&lt;span class="_ _2"/&gt;age of c&lt;span class="_ _2"/&gt;omple&lt;span class="_ _2"/&gt;tion and &lt;/span&gt;chall&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;enged Mana&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;gement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;âs as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sumpti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ons f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or&lt;span xmlns="http://www.w3.org/1999/xhtml" class="fc4 sc0"&gt; &lt;/span&gt;assoc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed with det&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ermi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ning the r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ecover&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;-We indep&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;endentl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;alcul&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ated a weighted esti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mated pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ofit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; includi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng the spec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ific&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; risk determi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ning s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tage of c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ompletion&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; incl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uding able amo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;unt combi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ned wi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th the s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ignif&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;i-average c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ost&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of capit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al by m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;aking provi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sion c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ombined w&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ith t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he signific&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ance of their&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; ass&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;essment of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; risk pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ovisi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ons and cance of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the balanc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws14"&gt;of&lt;/span&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;goo&lt;span class="_ _2"/&gt;dwill&lt;span class="_ _2"/&gt; to the f&lt;span class="_ _2"/&gt;i-&lt;/span&gt;refer&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ence to m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;arket&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; data and v&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;erif&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ied the revenue r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ecogni&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sed a&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nd the bal&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ance to t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he esti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mated pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ofits.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;The tes&lt;span class="_ _2"/&gt;ti&lt;span class="_ _2"/&gt;ng involv&lt;span class="_ _2"/&gt;ed&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;.  long-&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;term&lt;span class="_ _2"/&gt; growth r&lt;span class="_ _2"/&gt;ate to m&lt;span class="_ _2"/&gt;arket&lt;span class="_ _2"/&gt; data.  &lt;/span&gt; financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents as a w&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hole, &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws14"&gt;the &lt;/span&gt;inter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;views&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; with pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oject c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ontrol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lers &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws14"&gt;and&lt;/span&gt;  valuat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion and rec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ogni&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tion of work&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; in projec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t managem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; well as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; In ass&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;essi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng the lev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;el of headr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oom in progres&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws14"&gt;are&lt;/span&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;c&lt;span class="_ _2"/&gt;onsider&lt;span class="_ _2"/&gt;ed to be a k&lt;span class="_ _2"/&gt;ey audit&lt;span class="_ _2"/&gt; &lt;/span&gt;disc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ussi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ons &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;and ass&lt;span class="_ _2"/&gt;essment&lt;span class="_ _2"/&gt; of the &lt;/span&gt;respec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; these CGUs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, we perfor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;med a matter.  contr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;act&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; terms,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; ass&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ociat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oject&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; risks&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; downside s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ensit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ivit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y analys&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;is aroun&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d the and final&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; acceptance. Fur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ther&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;more,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; we  key ass&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;umpti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ons,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; using a range &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;of higher&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; perfor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;med rev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iews&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of complet&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ontrac&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ts WACC and low&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;er c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ash f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lows, and we incl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uding ass&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ess&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ment of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; project&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; risk and concl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uded that he&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;adroom w&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;as m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;aintai&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ned developm&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent and uti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ation of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; risk&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; under t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hese s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;cenari&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;os. provi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sions&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to ass&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ess the com&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;pletenes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and accur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;acy&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of Management&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;âs assum&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ptions&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; applied t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hroug&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hout t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he contr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;act&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; period. &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; </arr:KeyAuditMattersAudit>
   <arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-2" xml:lang="en">To the shareholders of Columbus A/S&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
   <arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-2" xml:lang="en">Manageme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; respons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ible f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or the man-agement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; comment&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ary.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Our opini&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on on t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws46"&gt;consol&lt;span class="_ _2"/&gt;idated f&lt;span class="_ _2"/&gt;inanci&lt;span class="_ _2"/&gt;al &lt;/span&gt;stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the parent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;finan&lt;span class="_ _2"/&gt;ci&lt;span class="_ _2"/&gt;al st&lt;span class="_ _2"/&gt;ate-&lt;/span&gt;ments&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; does not &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;c&lt;span class="_ _2"/&gt;over&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;the manageme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt comment&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ary,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and we do not ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ess any form of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;assur&lt;span class="_ _2"/&gt;ance &lt;/span&gt;c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oncl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;usion ther&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eon&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt;. &lt;/span&gt; In connec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tion w&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ith our&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; audit of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;cons&lt;span class="_ _2"/&gt;oli-&lt;/span&gt;dated fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the pare&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents, our&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; respons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ibi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lity&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; is to read t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he managem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ommentar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;and, &lt;/span&gt;in doing s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o, cons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ider&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; whether t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he manage-ment c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ommentar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y is mat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ally incon-sist&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;wi&lt;span class="_ _2"/&gt;th the c&lt;span class="_ _2"/&gt;onsoli&lt;span class="_ _2"/&gt;dated fi&lt;span class="_ _2"/&gt;nanci&lt;span class="_ _2"/&gt;al &lt;/span&gt;stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the parent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;fi&lt;span class="_ _2"/&gt;nanci&lt;span class="_ _2"/&gt;al s&lt;span class="_ _2"/&gt;tate-&lt;/span&gt;ments&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; or our k&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nowledge obtai&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ne&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d in the audit or&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; otherwi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;se appe&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ars t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o be mater&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iall&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ymis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;stated.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Moreov&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;er, i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t is our r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;esponsi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;bilit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y to con-sider&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; whether&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the managem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ommen-tary&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; provi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;des&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;t&lt;span class="_ _2"/&gt;he infor&lt;span class="_ _2"/&gt;mation r&lt;span class="_ _2"/&gt;equired un-&lt;/span&gt;der the Dani&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sh Fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al Stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Act&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; Based on the w&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ork&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; we have &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;per&lt;span class="_ _2"/&gt;form&lt;span class="_ _2"/&gt;ed, we &lt;/span&gt;concl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ude that&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;the mana&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;gement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; commen-tary i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;s &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;in accordanc&lt;span class="_ _2"/&gt;e &lt;span class="ls15 ws10"&gt;with&lt;span class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;/span&gt;&lt;/span&gt;&lt;span class="ws14"&gt;the consol&lt;span class="_ _2"/&gt;idated &lt;/span&gt;&lt;/span&gt;financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents and t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he parent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;finan-&lt;/span&gt;cial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; statement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and has&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; been pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;epared i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n accor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dance wi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th the r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;equirem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of the Danish Fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al Stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Act.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; We did not ident&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ify&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; any mat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;erial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; misstatem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent of the mana&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;gement c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;omment&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ary.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; </arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
   <arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-2" xml:lang="en">Manageme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; respons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ible f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or the preparat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;of&lt;span class="_ _2"/&gt; consol&lt;span class="_ _2"/&gt;idated f&lt;span class="_ _2"/&gt;ina&lt;span class="_ _2"/&gt;ncial&lt;span class="_ _2"/&gt; &lt;/span&gt;stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and parent f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;that gi&lt;span class="_ _2"/&gt;ve a true and f&lt;span class="_ _2"/&gt;air&lt;span class="_ _2"/&gt; view &lt;/span&gt;ina&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;ccor&lt;span class="_ _2"/&gt;dance wit&lt;span class="_ _2"/&gt;h Int&lt;span class="_ _2"/&gt;ernati&lt;span class="_ _2"/&gt;onal Financ&lt;span class="_ _2"/&gt;ial &lt;/span&gt;Reporti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng Stan&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dards as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; adopte&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d by&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the EU and &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;addi&lt;span class="_ _2"/&gt;tional&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;req&lt;span class="_ _2"/&gt;uirement&lt;span class="_ _2"/&gt;s &lt;/span&gt;of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the Danish Fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al Stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Act,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and for such i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nal cont&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rol as Manage&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ment determi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nes i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s necess&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ary t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o enable&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;the &lt;/span&gt;preparat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ion of &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;c&lt;span class="_ _2"/&gt;onsol&lt;span class="_ _2"/&gt;idate&lt;/span&gt;d f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inanc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and parent f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;that &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;are&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;free f&lt;span class="_ _2"/&gt;rom mater&lt;span class="_ _2"/&gt;ial &lt;/span&gt;mis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;statement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, whether&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; due to f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;raud or error.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt; In prepar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing the c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onsol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;idate&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the parent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;finan&lt;span class="_ _2"/&gt;ci&lt;span class="_ _2"/&gt;al st&lt;span class="_ _2"/&gt;ate-&lt;/span&gt;ments&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, Managem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; res&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ponsible f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or as-sessi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;the &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;G&lt;span class="_ _2"/&gt;roupâs&lt;span class="_ _2"/&gt; and the Par&lt;span class="_ _2"/&gt;ent&lt;span class="ls1e ws44"&gt;âs abil-&lt;/span&gt;&lt;/span&gt;ity&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to conti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nue as a going c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oncer&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n, &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;for&lt;span class="_ _2"/&gt; dis-&lt;/span&gt;clos&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing, as appl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;able, mat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ters rel&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ated to going conc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ern,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and for us&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing the&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; going concer&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n basi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of acc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ounti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng in prepar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing the cons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;olidat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the parent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;unles&lt;span class="_ _2"/&gt;s &lt;/span&gt;Manageme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt eit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;her i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ntends t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o liquidate t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;heGroup or t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he Enti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ty&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;or&lt;span class="_ _2"/&gt; t&lt;span class="_ _2"/&gt;o cease oper&lt;span class="_ _2"/&gt;ati&lt;span class="_ _2"/&gt;ons, &lt;/span&gt;or has no r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ealis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; alter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;native but&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to do so.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
   <arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-2" id="pp-value-23" xml:lang="en">Our objec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es are t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o obtain r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;easonable assur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ance about&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; wheth&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;er the &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;c&lt;span class="_ _2"/&gt;onsoli&lt;span class="_ _2"/&gt;dated &lt;/span&gt;financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents and t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he parent financ&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents as a w&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hole are f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ree â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws6"&gt;Obt&lt;span class="_ _2"/&gt;ain an u&lt;span class="_ _2"/&gt;nderst&lt;span class="_ _2"/&gt;anding of&lt;span class="_ _2"/&gt; inter&lt;span class="_ _2"/&gt;nal &lt;/span&gt;&lt;/span&gt;from m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ateri&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al misst&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;atement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, whether&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; due contr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ol rel&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;evant&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to the audit i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n order&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; to to fr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;aud or err&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or, and to i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ss&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ue an au&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;ditor&lt;span class="_ _2"/&gt;âs &lt;/span&gt;design au&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dit pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ocedur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;es that&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; are appr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o-report&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; that i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ncludes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; our opi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nion. Reas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ona-priat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e in the c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ircum&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;stances&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, but not f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;or ble ass&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uranc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e is a high l&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;evel of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; assur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ance, the purpos&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e of ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;press&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ing an op&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inion but is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; not a guarant&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ee that an &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;audi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t con-on the eff&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ecti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;venes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of the Gr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oupâs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and ducted i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n acc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ordance wi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;th I&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls2 ws3"&gt;SAs&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;and the &lt;/span&gt;the Parent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;âs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; inter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nal cont&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rol.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;additi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onal req&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uirem&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents appl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;icab&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;le i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n Den-â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws6"&gt;Ev&lt;span class="_ _2"/&gt;aluate t&lt;span class="_ _2"/&gt;he appr&lt;span class="_ _2"/&gt;opriat&lt;span class="_ _2"/&gt;enes&lt;span class="_ _2"/&gt;s of ac-&lt;/span&gt;&lt;/span&gt;mark&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; will al&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ways detec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;t a mat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;erial mi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s-counti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng polic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ies&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; used and the r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eason-state&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;ment when it ex&lt;span class="_ _2"/&gt;i&lt;span class="ls0 ws0"&gt;s&lt;/span&gt;ts&lt;span class="_ _2"/&gt;. Misst&lt;span class="_ _2"/&gt;atements&lt;span class="_ _2"/&gt; &lt;/span&gt;ablenes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; accounti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng esti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;mates&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and can ari&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;se from&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; fraud or&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; error and&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; are c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on-relat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed disc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;los&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ures made by&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; Manage-sider&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed mater&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;f, indiv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;idual&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ly or i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n the ag-ment.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;gregate,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; they c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ould r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;easonably&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; be ex-â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws6"&gt;Conc&lt;span class="_ _2"/&gt;lude o&lt;span class="_ _2"/&gt;n the appr&lt;span class="_ _2"/&gt;opriat&lt;span class="_ _2"/&gt;enes&lt;span class="_ _2"/&gt;s of &lt;/span&gt;&lt;/span&gt;pected t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o infl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uence the ec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onomi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;c dec&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;i-M&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;anageme&lt;span class="_ _2"/&gt;ntâs&lt;span class="_ _2"/&gt; use of t&lt;span class="_ _2"/&gt;he going c&lt;span class="_ _2"/&gt;on-&lt;/span&gt;sions&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of us&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ers taken on t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he basis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of thes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e cern bas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;is of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; accounti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng in prep&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ar&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;i&lt;span class="_ _2"/&gt;ng&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;consol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;idated f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inanc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tatement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and the &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;cons&lt;span class="_ _2"/&gt;oli&lt;span class="_ _2"/&gt;dated fi&lt;span class="_ _2"/&gt;nancial&lt;span class="_ _2"/&gt; stat&lt;span class="_ _2"/&gt;ements&lt;span class="_ _2"/&gt; &lt;/span&gt;these par&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al st&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;atements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;and the par&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al st&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;atements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;,  and, based &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on the a&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;udit ev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;idence ob-As part&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of an audit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;conduc&lt;span class="_ _2"/&gt;ted &lt;/span&gt;i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n accor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;d-tained,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; whether&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; a mater&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ial unc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ert&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ainty&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; ance wit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;h I&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls2 ws3"&gt;SAs&lt;span class="_ _2"/&gt;&lt;span class="ls0 ws0"&gt; &lt;/span&gt;&lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;and the &lt;/span&gt;addi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tion&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al requi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;re-exis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ts r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;elated &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;to ev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ents&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; or c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ondit&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ions ments&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; applic&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;able in Denm&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ark,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; we exer&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;cise that may&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; cast&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; signif&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;icant doubt&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; on the profes&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;si&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onal judgeme&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt and mai&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ntai&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n pro-Group's&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the Par&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;entâs&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="fcf ls0 ws0"&gt; &lt;/span&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;abil&lt;span class="_ _2"/&gt;ity&lt;span class="_ _2"/&gt; to c&lt;span class="_ _2"/&gt;on-&lt;/span&gt;fess&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ional &lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;scept&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;icis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;m t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;hr&lt;span class="_ _2"/&gt;oughout t&lt;span class="_ _2"/&gt;he audit.&lt;span class="_ _2"/&gt; &lt;/span&gt;tinue as&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; a going conc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ern.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; If we con-We als&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o: &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;clude t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;hat a mat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;erial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; uncert&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ainty ex&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ists,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;  we are requi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;red to dr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;aw att&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;entio&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;n in our â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws6"&gt;I&lt;span class="_ _2"/&gt;dentif&lt;span class="_ _2"/&gt;y and ass&lt;span class="_ _2"/&gt;ess t&lt;span class="_ _2"/&gt;he risks of&lt;span class="_ _2"/&gt; materi&lt;span class="_ _2"/&gt;al &lt;/span&gt;&lt;/span&gt;auditor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;âs r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eport t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o the r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;elated di&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sclo-mis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;statement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; of the c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onsol&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;idated f&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;inan-s&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws2a"&gt;ures&lt;span class="_ _2"/&gt; in t&lt;span class="_ _2"/&gt;he &lt;span class="ws6"&gt;c&lt;span class="_ _2"/&gt;onsoli&lt;span class="_ _2"/&gt;dated fi&lt;span class="_ _2"/&gt;nanci&lt;span class="_ _2"/&gt;al &lt;/span&gt;&lt;/span&gt;cial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; statement&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s and t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he parent &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;f&lt;span class="_ _2"/&gt;inanci&lt;span class="_ _2"/&gt;al &lt;/span&gt;stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the parent&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws14"&gt;finan&lt;span class="_ _2"/&gt;ci&lt;span class="_ _2"/&gt;al &lt;/span&gt;stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, whether&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; due to fr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;aud or er&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;-stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; or, if&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; such disc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;losures&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; are ror,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; design and per&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;m audit pr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oce-inadequat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e, to m&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;odify&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; our opini&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on. O&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ur dures r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;espons&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ive t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o thos&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e risk&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws2a"&gt;s,&lt;span class="_ _2"/&gt; and &lt;/span&gt;concl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;usi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ons are bas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ed on the au&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dit ev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;i-obtain au&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dit ev&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;idenc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e that i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s suffi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;cient&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; dence obtai&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ned u&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;p to the dat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e of our&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and appropr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;iate t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o prov&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ide a bas&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; for auditor&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;âs r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;eport.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; However&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, futur&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e event&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s our opini&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;on. The r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;is&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;k of not det&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ecti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng a or condi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;tions&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; may caus&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;e the Gr&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;oup and materi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;al mi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sstat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ement r&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;esulti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng from the Enti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ty&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;span class="_ _2"/&gt;&lt;/span&gt;to cease t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;o conti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nue as a go-fraud i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;s higher&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; than for&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; one res&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ulti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ng ing conc&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ern.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;from er&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ror&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, as fraud may&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; inv&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;olve col&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;lu-â¢&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ff5"&gt; &lt;span class="_ _2b"&gt; &lt;/span&gt;&lt;span class="ff1 fc0 ls3 ws6"&gt;Ev&lt;span class="_ _2"/&gt;aluate t&lt;span class="_ _2"/&gt;he over&lt;span class="_ _2"/&gt;all pr&lt;span class="_ _2"/&gt;esentat&lt;span class="_ _2"/&gt;ion, s&lt;span class="_ _2"/&gt;truc&lt;span class="_ _2"/&gt;-&lt;/span&gt;&lt;/span&gt;sion,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; forger&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;y,&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;i&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ntenti&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onal omis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;sions&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, ture and c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ontent of&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; the c&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;onsoli&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;dated fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;-mis&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;repres&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;entati&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ons, or t&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;he over&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ride of nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; and the pare&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nt &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls1e ws2a"&gt;fi-&lt;/span&gt;inter&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nal cont&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;rol.&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls0 ws0"&gt; &lt;/span&gt;nancial&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt; stat&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ements&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;, incl&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;uding the disclo&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;su&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/&gt;&lt;span xmlns="http://www.w3.org/1999/xhtml" class="ls3 ws6"&gt;res i&lt;span class="_ _2"/&gt;n the notes,&lt;span class="_ _2"/&gt; and whet&lt;span class="_ _2"/&gt;her &lt;/span&gt;the &lt;span xmlns="http://www.w3.org/1999/xhtml" class="ws6"&gt;cons&lt;span class="_ _2"/&gt;oli&lt;span class="_ _2"/&gt;dated fi&lt;span class="_ _2"/&gt;nancial&lt;span class="_ _2"/&gt; stat&lt;span class="_ _2"/&gt;ements&lt;span class="_ _2"/&gt; &lt;/span&gt;and the par&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;ent fi&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&gt;nanci&lt;span xmlns="http://www.w3.org/1999/xhtml" class="_ _2"/&g