ALTAMIR & CIE : Creation of Altamir Amboise, a unique vehicle for private equity investments

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Report on the shareholders' meetings for Altamir and Amboise Investissement

Creation of Altamir Amboise, a unique vehicle for private equity investments

Today, the shareholders of Altamir and Amboise Investissement voted to approve all the resolutions put forward at the EGM.

These shareholders' meetings mark the creation of Altamir Amboise, paving the way for the proposed capital increase with preferential subscription rights for around ¤120 million, which will be launched as soon as market conditions allow. The capital increase will enable this new larger vehicle to pursue its policy of significant co-investment with the funds of Apax Partners SA and benefit from the highly dynamic development of this major private equity player in France. Indeed, Altamir Amboise is targeting an equity investment amount in the order of ¤150 million in 2007 (+23% vs 2006).

Thanks to the merger between Altamir and Amboise Investissement, Apax Partners is now managing a single and unique listed vehicle in France with increased size and visibility. At 31 March 2007, the total pro forma NAV of Altamir Amboise amounted to ¤321 million, with 38 equity interests in its portfolio.

Maurice Tchenio, Chairman of the management company of Altamir Amboise, declared:

"The creation of Altamir Amboise represents a decisive step forward in our project to build up a vehicle with an ultimate capitalisation of 1 billion euros in time.

The capital increase that we are considering will enable Altamir Amboise to continue with its active investment policy within a highly favourable environment for private equity operations.

Following these operations, the new structure will offer a number of key assets for its shareholders, and notably better liquidity, thanks to a significant increase in its float, as well as greater visibility. This stronger liquidity should also make it possible to reduce the discount between the NAV and the stock price, which can currently be seen on both stocks.

We are delighted to be able to offer our shareholders the opportunity to be involved in our ambitious development project, and would like to thank them once again for their confidence".

Altamir Amboise is now:

  • A pure private equityplayer, backed by Apax Partners' investment know-how and strategy
  • One of the leading private equity players listed on the buoyant mid-cap market
  • A listed vehicle enabling a large base of investors to benefit from one of the most performing asset classes on the long term
  • A Eurolist B-listed stock, with a float close to 95%

Financial calendar

5 June 2007 - Detachment of ¤10 dividend per Altamir share
- Detachment of Amboise Investissement warrants; Amboise shares will be listed as single shares and no longer as units composed of shares plus warrants
6 June 2007 - Altamir's stock split
- Cancellation of Amboise Investissement shares
7 June 2007 - Listing of new ordinary 9,805,200 Altamir Amboise shares on the Euronext Paris stock exchange
- Listing of 19,610,400 September 2008 Altamir Amboise warrants on the Euronext Paris stock exchange
- Transfer of the shares to Eurolist B

About AltamirAmboise

Altamir Amboise is a listed company that co-invests with the private equity funds managed by Apax Partners SA.

Altamir Amboise leverages Apax Partners' know how and investment strategy, which involves backing fast-growing companies across its sectors of specialization: Tech & Telecom, Retail & Consumer, Media, Healthcare, Business & Financial Services.

Altamir Amboise is a SCR (Société de Capital Risque) listed on the Euronext Paris Eurolist market, Compartment B.

After the merger, the equity of Altamir Amboise is composed of:

  • 18,968,897 ordinary shares (ISIN code: FR0000053837- ticker: LTA)
  • 18,582 B shares, which are non listed and represent the rights of the Apax' Partners for carried interest
  • 539,041 March 2008 warrants. These warrants have been daily traded since January 2007 (ISIN code: FR0010428755 - ticker: LTBS - Trading name : ALTAMIR AMBOISE BS0308)
  • 19,610,400 September 2008 warrants. These warrants will be daily traded. (ISIN code: FR0010307611 - ticker : LTBS9 - Trading name : ALTAMIR AMBOISE BS0908)

Partners of Apax Partners SA own a total of 1,115,205 shares representing 5.88% of equity and have announced their intention to increase their holdings.

For further information: www.altamir-amboise.com


Press Contact:

Apax Partners SA
Agathe Heinrich - Marketing Director
Tél: +33 1 53 65 01 35
E-mail: agathe.heinrich@apax.fr

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