VE 7 ApS

The principal activity is to invest in and finance wind energy projects.

Financial review

The company's income statement for the year ended 31 December 2021 shows a loss of DKK 2.606.021, and the balance sheet at 31 December 2021 shows equity of DKK 41.461.884.

No events have occurred after the balance sheet date, including Russia's invasion of Ukraine and the related sanctions, which could significantly affect the company's financial position.

The company issued some guarantees in relation to sale of its subsidiary Minerva Messina S.r.l. occurred on July 25, 2019 in favor of a primary international fund named Glennmont Partners. According to the Sale Purchase Agreement, the company established an Escrow Account of DKK 28.956.773, As of 31 December the escrow account amounted to DKK 22.818.517. The Escrow account was released on 10 March 2022 net of the provision of DKK 8.927.280, as the sole guarantee to cover any claim that can occur between VE 7 ApS and buyer. The guarantees will expire in 2022 and will hereafter be released to the company. Additionally, the purchaser retained a portion of the price equal to an amount of DKK 26.126.800. This Retained price is related to the Confiscated Areas which is a portion of the area whe…