The Carlsberg Foundation is set to remove an obligation in its charter, that it must own at least 51 per cent of the voting rights and more then 25 per cent of the share capital in Carlsberg Group. In a press release on Friday the Carlsberg Foundation confirmed it had submitted an application to amend it's charter to the Danish justice ministry.
The Carlsberg Foundation is a very committed and long-term shareholder of the Carlsberg Group. Since 1888, when the Foundation became the owner of Carlsberg, the Foundation has carefully respected the legacy of the founder, J.C. Jacobsen, ensuring that the principles of the Foundation continue to be adapted to remain relevant for the present day. In light of this, the change of the Charter is a logical step as it also provides the Carlsberg Group with the opportunity to adapt and continuously develop the business and become an even stronger company. We believe that the change is in the clear interest of all shareholders as well as other stakeholders of the Carlsberg Group.
Jorgen Buhl Rasmussen, CEO of the Carlsberg Group, said:
A change of the Charter of the Carlsberg Foundation will increase the financial flexibility of the Carlsberg Group. We don’t have any plans for capital increases or major structural changes, but in the event that value-enhancing opportunities arise, we can pursue these more easily with the changed Charter. As a result of this, and as the Group continues to deliver a stable and strong cash flow, we have decided to propose a more explicit dividend policy.