Chest Bidco ApS

The Company's main activity is to own shares in related companies.

Development in activities and financesIn the financial year 2020, the company realized a profit DKK 7,821k compared to DKK 11,744k prior year.

The profit is considered satisfactory.

The outbreak of coronavirus/COVID-19 is still a current event in the months after 31.12.2020. The outbreak has resulted in a series of precautions, that affects the daily operations, both for the Company, suppliers, customers and other business partners. The economical effect cannot be meassured at this time.

No other events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.

The Entity participates in a Danish joint taxation arrangement where Pitzner Gruppen Holding A/S serves as the administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity is therefore liable for income taxes etc for the jointly taxed entities, and for obligations, if any, relating to the withholding of tax on interest, royalties and dividend for the jointly taxed entities. The jointly taxed entities' total known net liability under the joint taxation arrangement is disclosed in the administration company's financial statements.

6 Assets charged and collateralIn connection with the conclusion of a Group Multi-Option Facility Agreement, the Company is jointly liable for all debts under the agreement together with all other companies in the Group.

Shares in subsidiaries of DKK 260,484k (2018: DKK 256,826k) pledged as security for bank debt.