Capital increase in connection with merger

Dampskibsselskabet "NORDEN" A/S amalgamated from the merger of 1 January 1994 between Dampskibsselskabet Orient, Akiteselskab and Dampskibsselskabet "NORDEN", Aktieselskab. Dampskibsselskabet Orient is the continueing company which subsequently changed its name to Dampskibsselskabet "NORDEN" A/S.

The issue of simplifying the structure of the Group's shipping companies had become more and more eminent over the years due to an increased use of resources and external difficulties in understanding the structure in itself. The shipping companies had joint domicile, administration, management and, to a large extent, joint Boards of Directors.