Ownership before the Offering Ownership after Offering
Shareholder # of shares Percent # of shares Percent
Andersen Advisory Group A/S1) 9,760,900 42.44% 9,760,900 31.80%
Ramsgaard Invest ApS2) 6,311,250 27.44% 6,311,250 20.56%
Dennis Poulsen Holding ApS3) 4,678,850 20.34% 4,605,389 15.01%
Rene Giese Holding ApS4) 1,054,450 4.58% 1,054,450 3.44%
Christian Lawaetz Holding ApS5) 431,850 1.88% 431,850 1.41%
Domica Holding 2011 ApS6) 297,850 1.30% 297,850 0.97%
Jørn Larsen 234,850 1.02% 234,850 0.77%
Jeffrey Abbott 230,000 1.00% 230,000 0.75%
Flemming Poulfelt - 0.00% 38,460 0.13%
Total (Existing Shareholders) 23,000,000 100.00% 22,964,999 74.82%
New shareholders 0 0.00% 7,727,308 25.18%
Total 23,000,000 100.00% 30,692,307 100.00%

1) Andersen Advisory Group A/S is ultimately owned by Michael Moesgaard Andersen who is a member of the Board of Directors.
2) Ramsgaard Invest ApS is ultimately owned by Finn Peder Ramsgaard Hove who is a member of the Board of Directors.
3) Dennis Poulsen Holding ApS is ultimately owned by Dennis Juul Poulsen who is the Company’s CEO and member of the Executive Management Team.
4) Rene Giese Holding ApS is ultimately owned by René Giese, who is a member of the Executive Management Team.
5) Christian Lawaetz ApS is ultimately owned by Christian Lawaetz, who is a member of the Executive Management Team.
6) Domica Holding 2011 ApS is ultimately owned by Ellen Bente Schulz, who is a member of the Executive Management Team.