SEMCO MARITIME A/S Annual Accounts 2007 CVR-no. 25 49 07 62 Signatures Report by the company’s external auditors To the shareholders of Semco Maritime A/S We have audited the annual accounts for Semco Maritime A/S for the accounting year of 1 January – 31 December 2007, including management signatures, management report, accounting policies, profit and loss account, balance sheet, statement of changes in equity and notes for group and company as well as cashflow statement for the group. The annual accounts are reported in accordance with the Danish Financial Statements Act. Management responsibility for the annual accounts The management of the company is accountable for the annual accounts giving a fair presentation in accordance with the Danish Financial Statements Act. The responsibility includes set-up, implementation and maintenance of internal control systems, which are relevant for making annual accounts giving a fair presentation free from material misstatement, no matter if the misstatement is due to fraud or errors, just as the choice and use of appropriate accounting principles and accounting estimates must be reasonable in the circumstances. Auditor responsibility and the audit performed It is our responsibility to make a conclusion on the annual accounts based on our audit. We have carried out our audit in concordance with Danish auditing standards. These standards demand ethical standards to be fulfilled and the audit is carried out with special attention being focused on avoiding material misstatement in the annual accounts. An audit includes actions to obtain auditing evidence for the amounts and information stated in the annual accounts. The actions chosen depend upon the estimate of the auditor, hereunder the estimate of the risk of essential misinformation of the annual account, no matter if the misinformation is due to fraud or errors. The auditor’s risk assessment includes consideration of internal control relevant for the company’s annual accounts giving a fair presentation, so that suitable auditing procedures can be developed, but not with the purpose of reaching a conclusion on the efficiency of the internal control in the company. Furthermore, an audit includes an assessment of the accounting policy of the management and an estimate of the total presentation of the annual accounts. It is our opinion that the audit performed, gives an adequate basis for our opinion. Our audit did not give rise to any qualifications. Conclusion In our opinion the annual accounts give a true and fair view of the assets and liabilities, the financial position per 31 December 2007 and the result of the activities and cash flows of the accounting year from 1 January to 31 December 2007 of the company in accordance with the Danish Company Accounts Act. Esbjerg, 29th of February 2008 KPMG State authorised Accountant Partnership Flemming Brokhattingen State-authorized Public Accountant John Lesbo State-authorized Public Accountant 4
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