308227732016-01-012016-12-31308227732016-01-012016-12-31Direktionsmedlem 01308227732016-12-31308227732015-12-31308227732015-01-012015-12-31308227732016-01-012016-12-31fsa:RetainedEarningsMember308227732015-01-012015-12-31fsa:RetainedEarningsMember308227732016-01-012016-12-31fsa:RetainedEarningsMember308227732015-01-012015-12-31fsa:RetainedEarningsMember308227732016-12-31fsa:ContributedCapitalMember308227732015-12-31fsa:ContributedCapitalMember308227732016-12-31fsa:RetainedEarningsMember308227732015-12-31fsa:RetainedEarningsMember308227732016-12-31fsa:ReceivablesMember308227732015-12-31fsa:ReceivablesMember308227732016-01-012016-12-31Revisionsvirksomhed 01308227732016-01-012016-12-31Revisionsvirksomhed 02308227732016-01-012016-12-31Revisionsvirksomhed 01 - Revisor 01iso4217:DKKThe Company’s activity is to own shares in domestic or foreign companies. The loss for the year represents thousand 145 DKK. Equity at year end represents thousand (4,102) DKK. No events have occurred after the balance sheet date to this date which would influence the evaluation of this annual report.Jacques Tarek GhandourThe Executive Board have today considered and approved the annual report of JAMG Denmark ApS for the financial year 01.01.2016 - 31.12.2016.The annual report is presented in accordance with the Danish Financial Statements Act. We also recommend to the Annual General Meeting that the financial statements for the next financial year not be audited.I recommend the annual report for adoption at the Annual General Meeting. I believe that the management commentary contains a fair review of the affairs and conditions referred to therein. CEO8429118699358429118699358429118699354945246482763849029964785388422504225018272171135884149029-27020-75643-27020-75643-144632-224501This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises. Assets are recognized in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Entity, and the value of the asset can be measured reliably. Liabilities are recognized in the balance sheet when the Entity has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item. Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement. Income is recognized in the income statement when earned, whereas costs are recognized by the amounts attributable to this financial year.Cash comprises cash in hand and bank deposits. Other financial liabilities are measured at amortized cost, which usually corresponds to nominal value. Other external expenses include expenses relating to the Entity’s ordinary activities, including expenses for stationery and office supplies etc. Other financial income comprises interest income, including interest income on receivables from group enterprises, payables and transactions in foreign currencies and tax relief under the Danish Tax Prepayment Scheme etc. Other financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, payables and transactions in foreign currencies and tax surcharge under the Danish Tax Prepayment Scheme etc. 171182721358841378631116630822773JAMG Denmark ApS2007-09-06Vejen2017-06-16Jacques Tarek GhandourIn our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2016 and of the results of its operations for the financial year 01.01.2016 - 31.12.2016.2017-06-16ParisGross profit or loss comprises external expenses. 33963556Deloitte Statsautoriseret RevisionspartnerselskabEgtved Allé 6000 Kolding842911869935-4102335-39577032545000025450000-29552335-2940770349452464827638-144632-224501-144632-224501-144632-224501-144632-2245012545000025450000-29552335-29407703Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, Management is responsible for assessing the Entity’s ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Entity’s internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. • Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the financial statements, and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Entity to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the financial statements, including the disclosures in the notes, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the Auditor’s responsibilities for the audit of the financial statements section of this auditor’s report. We are independent of the Entity in accordance with the International Ethics Standards Board of Accountants' Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.We have audited the financial statements of JAMG Denmark ApS for the financial year 01.01.2016 - 31.12.2016, which comprise the income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2016 and of the results of its operations for the financial year 01.01.2016 - 31.12.2016 in accordance with the Danish Financial Statements Act.Management is responsible for the management commentary. Our opinion on the financial statements does not cover the management commentary, and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the management commentary and, in doing so, consider whether the management commentary is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the management commentary provides the information required under the Danish Financial Statements Act.Based on the work we have performed, we conclude that the management commentary is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the management commentary.The company has lost the entire share capital, and is thus subject to capital loss regulations in the Companies Act § 119. It is expected that the company restore capital by conversion of debt or equity. The parent company has issued a letter of comfort committing the parent company to provide the cash required for JAMG Denmark ApS to meet its obligations as they fall due. 10962109621096210962ÅrsrapportRegnskabsklasse BTo the shareholders of JAMG Denmark ApSKolding2017-06-16c/o Deloitte, Jacob Gades Allé12A6600Vejen33963556Deloitte Statsautoriseret RevisionspartnerselskabEgtved Allé46000KoldingOn initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the one in effect at the payment date, or the rate at the balance sheet date are recognized in the income statement as financial income or financial expenses. Revisionspåtegning-144632-224501The accounting policies applied for these financial statements are consistent with those applied last year. State Authorised Public AccountantSuzette Demediuk Steen Nielsen75 53 00 00true2016-01-012016-12-312015-12-312015-01-01The company has lost more than half of its share capital. Management has not informed the shareholders of the financial position of the company 6 months at the latest after the loss of capital was recorded. The omission is in contravention of the Danish Private Companies Act and may impose liability on management.