June 2009

Financial advisor to Cheminova in connection with fairness opinion

ATRIUM made an economic assessment of the value of Pytech Chemicals, a foreign subsidiary of Cheminova A/S located in Switzerland.

Pytech Chemicals was established as a joint venture between Danish Auriga/Cheminova and American Dow AgroSciences, comprising insecticides based on gamma-cyhalothrin. In 2008, Auriga/Cheminova took full ownership of Pytech Chemicals and as a consequence decided that the activities concerning gamma-cyhalothrin should transfer to the Danish parent company.

ATRIUM acted as exclusive financial advisor to Auriga/Cheminova.