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&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt; &lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt;Årsrapporten er aflagt i overensstemmelse med årsregnskabsloven.&lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt; &lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt;Direktionen anser den valgte regnskabspraksis for hensigtsmæssig, og efter min opfattelse giver årsregnskabet et retvisende billede af selskabets aktiver, passiver og finansielle stilling pr. 30. juni 2017 samt af resultatet af selskabets aktiviteter for regnskabsåret 1. juli 2016 - 30. juni 2017.&lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt; &lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt;Direktionen anser betingelserne for at undlade revision af årsregnskabet for 2016/17 for opfyldt.&lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt; &lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt;Årsrapporten indstilles til generalforsamlingens godkendelse.&lt;/p&gt;</sob:StatementByExecutiveAndSupervisoryBoards>
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&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt;Deltagelse i spekulative forretninger på marginkonti i de finansielle markeder med særlig hovedvægt på valutaterminsforretninger, valutaspothandel, valutaoptionshandel, erhvervsobligationer og unoterede papirer.&lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt; &lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt;Udviklingen i aktiviteter og økonomiske forhold&lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt;Selskabets udvikling viger fra budget i 2016-17. Strategi og positionstagning koordineres med søster- og moderselskabers analysearbejde og aktiviteter, således også eksekvering.&lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt; &lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt;Begivenheder efter regnskabets afslutning&lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt;Der er ikke efter regnskabets aflæggelse indtruffet forhold som væsentligt forringer selskabets økonomiske stilling. Egenkapitalen skal reetableres i 2017/18, hvorefter selskabet forventes afviklet.&lt;/p&gt;
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&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt;Årsrapporten er aflagt i danske kroner&lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt; &lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt;I resultatopgørelsen indregnes indtægter i takt med at positioner lukkes.&lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt; &lt;/p&gt;
&lt;p xmlns="http://www.w3.org/1999/xhtml"&gt;Aktiver indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske fordele vil tilflyde selskabet,
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