Authorized Public Accountant Jan Palmqvist at Deloitte AB has today submitted his auditor’s report for the 2007 financial year to the Board of Directors of Carnegie Investment Bank AB, which is a wholly-owned subsidiary of the listed company D. Carnegie & Co AB (publ).
The auditor recommends that the income statement and balance sheet be adopted and that the earnings in Carnegie Investment Bank AB be distributed in accordance with the proposal in the Director’s Report.
During 2007, the Swedish Financial Supervisory Authority ordered Carnegie Investment Bank AB to pay a penal charge of SEK 50m. Due to the foregoing, the auditor’s report states the following:
“The penal charge issued by the Swedish Financial Supervisory Authority separately constitutes such damage which can give rise to liability for damages to the company. However, in order to establish such liability, it is also required that that the penal charge still remains after final determination of the company’s appeal of the Authority’s decision, and also that it can be proved that the members of the Board of Directors and the Managing Director intentionally or through negligence caused the damage. To establish intent or negligence involves judgements concerning very complex issues which are not possible to answer within the context of the statutory audit.”
As a result, the auditor neither supports nor opposes that the Annual General Meeting discharges the former Board members Christer Zetterberg, Hugo Andersen, Niclas Gabrán, Anders Ljungh, Dag Sehlin and Fields Wicker-Miurin and the former Board member and CEO Stig Vilhelmson from liability.
However, the auditor recommends that the current Board of Directors of Carnegie Investment Bank AB, i.e., the Board members Anders Fällman, Jan Kvarnström, Björn C. Andersson, Catharina Lagerstam, Mai-Lill Ibsen and Patrik Tigerschiöld and CEO Anders Onarheim, be discharged from liability. The Annual Report for Carnegie Investment Bank AB will be available at Carnegie’s head office and on the company’s website on Tuesday 25 March.
The auditor’s report for the listed company D. Carnegie & Co AB (publ) was submitted on 4 March 2008, where the auditor Jan Palmqvist recommends that the Annual General Meeting adopts the income statement and balance sheet for the parent company and the Group, distributes the earnings in the parent company in accordance with the proposal in the Director’s Report and discharges the members of the Board of Directors and the Managing Director from liability for the financial year.
For additional information:
Andreas Koch, Head of Communications and IR +46 8-676 86 39.
D. Carnegie & Co AB is required to disclose the information provided herein pursuant to the Securities Markets Act. The information was submitted for publication at 10:00 on 20 March 2008.