Co-founder of LED iBond International A/S, Lars Frederiksen, retires.

COMPANY ANNOUNCEMENT NO. 98

Lars Frederiksen, co-founder of LED iBond and inventor of the fundamental patented inventions upon which LED iBond’s activities are based, has retired from his position in the company.

Lars Frederiksen states: "It is the right time for LED iBond as well as for me. For me, the background is health and age, and at the same time LED iBond has today reached a stage of development that makes it a natural step. We have agreed that I will be available throughout the year in relevant contexts, and I look forward to following the future development of LED iBond."

Michael Brag, chairman of the board, states: "It is always challenging to find the right solution when a co-founder and inventor resigns. We are pleased with the balanced arrangement that we have reached according to which Lars Frederiksen will be available to LED iBond for the rest of the year as a consultant. It is a good arrangement for both parties. We thank Lars for his great work in LED iBond."