16C EXPECTED DISTRIBUTIONS 2014-2018 In addition to the distribution obligations listed in notes 16a and 16b, new centers will be established in 2015 and 2017 as a result of the current 8th application round and the 9th application round, which will be announced in 2015. In the period 2014-2018, total distributions are expected to be as follows: MDKK
2014
430
2015
498
2016
453
2017
474
2018
456 2,311
17 CONTINGENT LIABILITIES The foundation has to give six months’ notice to terminate the tenancy agreement. The obligation amounts to DKK 323,274. The foundation has entered into forward currency contracts for the purchase and sale of the following currencies (amounts calculated in the currencies in question): 2013 Currency
Purchase
Sale
AUD
126,000
2,440,628
USD
12,208,810
145,923,807
0
2,057,440,802
JPY CAD
0
3,800,000
EUR
2,635,000
79,104,857
GBP
4,200,000
21,075,000
SEK
202,000
20,000,000
2012 Currency
USD
Purchase
Sale
392,000
125,480,852
0
1,478,428,145
CAD
45,000
3,810,000
EUR
100,000
88,481,000
GBP
0
21,828,000
SEK
0
11,000,000
JPY
The market price of the forward currency contracts as of December 31 is set at the value of the securities in question, see notes 12 and 13.
The foundation has entered into interest-rate futures for the purchase and sale of the following, calculated in the currencies in question: 2013 Currency
Purchase
Sale
USD
0
500,000
EUR
5,500,000
1,000,000
2012 Currency
Purchase
Sale
USD
0
400,000
EUR
6,800,000
0
The market price of the interest-rate futures as of December 31 is set at the value of the securities in question, see note 12. 65