SOURCE: EuroTrust A/S

May 02, 2007 06:32 ET

EuroTrust Appoints Kim Simonsen Chief Financial Officer

KOLDING, DENMARK -- (MARKET WIRE) -- May 2, 2007 -- EuroTrust A/S (NASDAQ: EURO) today announced that it had appointed Kim Simonsen as its new chief financial officer. Mr. Simonsen has served as Director of Finance of Aktiv Gruppen, a subsidiary of EuroTrust since July 2006. He had previously worked for 14 years in a number of finance roles at Difko A/S, acting as Director of Finance between 1998 and 2006. Mr. Simonsen has a Bachelor of Science in Economics and Business administration and a Graduate diploma in Business Administration Financial and Accounting Management from Herning Institute of Business.

Mr. Simonsen will replace Soren Degn who has served as the Chief Financial Officer of the Company since September 2003. In connection with the acquisition of Aktiv Gruppen by EuroTrust in April 2006 the Company moved its headquarters from Copenhagen to Kolding and the desire to spend more time with his family prompted Mr. Degn's resignation.

Bo Kristensen, CEO of EuroTrust, said, "We are pleased to have someone with Mr.Simonsen's background and familiarity with our operations serving as our CFO. We are sorry to lose Mr. Degn and wish him the best in his future endeavours."

About EuroTrust A/S:

EuroTrust (NASDAQ: EURO) owns European property and property development businesses and wind energy farms. More information about EuroTrust and its subsidiaries is available at

Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause EuroTrust's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others: (a) economic and other factors that could affect the development and sales of properties such as (i) a downturn in the housing market in Denmark or Norway, (ii) delays in obtaining necessary governmental permits and approvals, and (iii) delays in the construction of housing units; (b) factors that could impact the development and sale of wind energy such as (i) the availability of wind energy turbines for the development of new wind farms, (ii) the market price of electricity, and (iii) the amount of wind in any year; and (c) general economic, political and labor conditions. More information about potential factors that could affect the company's business and financial results is included in EuroTrust's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 20-F for the year ended December 31, 2005 and quarterly reports on Form 6-K. EuroTrust undertakes no obligation to update any of the forward-looking statements after the date of this press release.

Contact Information

  • EuroTrust Contact:
    Bo Kristensen
    CEO EuroTrust
    +45 7696 6000
    Email Contact