Performances over Q1 2008
Net asset value per share1 came to €13.71 at 31 March 2008, compared with €15.14 at 31 December 2007, down 9.5% over the period, with this contraction reflecting:
- The general downturn in stock prices over the period, impacting the valuation of the portfolio's listed securities (unlisted companies are revalued twice a year at 30 June and 31 December);
- The impact of the €12.8 million capital increase carried out at the end of March 2008; excluding dilution, the downturn in NAV per share would have come out at around 6.5% over the first quarter of 2008.
Good start to 2008
The dynamic investment programme has continued over 2008, with a further two investment commitments signed in April, representing a total amount of around €50 million for Altamir Amboise:
- Maisons du Monde, one of the leading French interior design brands, with a majority stake to be acquired 50-50 by the Apax and LBO France funds;
- Altran Technologies, which will welcome Apax Partners as a new shareholder through the acquisition of shares from the founding shareholders of Altran and the subscription for new shares within the context of a rights issue.
Capital increase in March 2008
The exercise of "March 2008" warrants resulted in a €12.8 million capital increase. The amount raised will enable the company to finance its investment programme for 2008 and continue making significant investments alongside the funds managed by Apax Partners SA.
Dividend of €0.20 per share for 2007
At the general meeting on 3 April 2007, shareholders voted to pay out a dividend of €0.20 per ordinary share for 2007. The share will be listed ex-dividend as of 21 April 2008. Shareholders may opt for this dividend to be paid out in cash or in new shares at an issue price of €6. They will have up until 9 May to submit a request to their financial intermediaries for share-based dividend payments. The dividend will be paid out on 21 May 2008.
Appointment of Joël Séché to chair the Supervisory Board
Charles Hochman, Chairman of the Supervisory Board since Altamir & Cie was founded in December 1995, has expressed his desire to not renew his mandate as chairman, while remaining a member of Altamir Amboise's Supervisory Board. The Board has acknowledged his decision and expressed its warmest thanks for the achievements made under his chairmanship, with the Company growing from €12 million to around €500 million in assets.
The Supervisory Board unanimously voted to appoint Joël Séché as its chairman, and he has accepted this mandate.
At 31 March 2008, total assets came to €464.3 million, and can be broken down as follows:
- Unlisted companies: 54.8%
- Listed companies: 27.8%
- Cash: 17.4%
1NAV (share of Limited Partners holding ordinary shares), net of any tax liabilities
About Altamir Amboise
Altamir Amboise is a listed private equity company with around €500 million under management, targeting NAV per share growth in line with the top-performing private equity players.
Altamir Amboise co-invests with the funds managed by Apax Partners SA, a leading private equity firm with over 30 years of investing experience. It offers investors access to a diversified portfolio of fast-growing companies across Apax' sectors of specialisation: Tech & Telecom, Retail & Consumer, Media, Healthcare, Business & Financial Services,
Altamir Amboise is a SCR (Société de Capital Risque) listed on Euronext Paris, Compartment B, ticker: LTA, ISIN: FR0000053837.
For further information: www.altamir-amboise.fr
The listed financial instruments issued by Altamir Amboise are as follows:
- 31,776,725 ordinary shares, of which :
- 29,638,901 shares with the ISIN code FR0000053837 - ticker: LTA
- 2,137,824 shares with the ISIN code FR0010587436 - ticker LTANV created from the exercise of the "March 2008" warrants. The new shares will be assimilated with the company's existing shares after detachment of the dividend on 21 April 2008.
- 19,610,400 September 2008 warrants. These warrants have been continuously traded since June 2007 with the ISIN code FR0010307611 - ticker : LTBS9 - Trading name : ALTAMIR AMBOISE BS0908
Agathe Heinrich - Marketing Director
Tel: +33 1 53 65 01 35
Marie Ployart - Financial Communications
Tel: +33 1 53 65 01 33
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