New majority shareholder in Hans Følsgaard A/S

More than 9 years ago, I got the opportunity to own a fair share of HF – together with 4 other HF executives – I knew then, that the day would come, when I had to sell the shares again.

I have just turned 63 and it is important for me to ensure a safe future for HF.

I have no intentions of retiring just yet and I had to find a solution within the next 5 years. At the end of my period of employment, a new CEO must be found and hired.

I and the other shareholders in HF Holding, who owns the majority of the shares, have decided to sell our shares to the Swedish company listed on the stock exchange, viz. ADDTECH AB.

ADDTECH AB consists of more than 100 operating technology trading companies in the Nordic countries that all work 100% autonomously. There will be no changes in the day-to-day business and management in HF. You will not notice the change of majority shareholder – all employees continue on the same terms as today and the HF brand stays the same everywhere. HF Danyko A/S in Norway continues directly below Hans Følsgaard A/S.

ADDTECH AB do not buy companies in order to sell them again later on. This has been the decisive factor in our choice of ADDTECH AB. Long-term planning is what counts and we continue making three-year strategic plans depending on the market situation.

Our customer segments within industry and infrastructure fits right into two of ADDTECHs four business areas.

Important:

The Følsgaard Foundation is today a minority shareholder and continues in the new set-up, thus the relatives of the Følsgaard family will still be there. The Foundation has a seat on the board of Hans Følsgaard A/S – so will I.

I find it very positive that the new owners wish to buy shares, knowing that the Foundation continues to be a part of the company. It is also reassuring for our employees and our security that there will not come new owners unless everybody agrees. The Foundation supported our establishment of HF Holding 100% as they do now the change of new majority shareholders.

When we established HF Holding 9 years ago and became majory shareholders back then no changes happened in the day-to-day business with our customers and suppliers. There will be no changes for you when Hans Følsgaard A/S as from July 1^st 2014 is going to have a new majority shareholder.

I as do all HF employees look forward to continue our close cooperation with all of our partners

Best regards,
Hans Følsgaard A/S
Jørgen Stenberg
CEO