Paris, September 12 2007: Turenne Investissement will attend the 7th edition of Midcap Event, which will take place in Paris, on September 17 and 18, 2007.
For this occasion, Turenne Investissement will comment its half year results and the exercise scheme for the first tranche of warrants (« BSA A ») due in November 2007.
Turenne Investissement was the first private equity firm listed on the Paris Alternext by Euronext market, in December 2006.
Our investment policy is focused on established, high growth companies, as well in owner's buyout operations as in growth capital, in order to help SMEs emerge. Investments are spread among four expertise sectors : healthcare, business services, retail, and innovative industry.
Target companies, mainly privately held and headquartered in France, have an enterprise value lower than ¤ 100m.
All our investments are sourced, analysed, negociated and structured by Turenne Capital, in accordance with a consulting agreement.
Turenne Investissement's portfolio presently consists in the following shareholdings :
ASTON MEDICAL : Aston Medical is specialised in the conception, making and selling of orthopaedic implants for the shoulder, the hip, and the knee.
GLOBE DIFFUSION : Globe Diffusion is one of the leading French players in the field marketing industry.
MEDIASTAY : Created in 2000, Mediastay is now the French leader of free on-line games, publishing www.kingoloto.com and www.grattage.com. Specialised in interactive marketing, Mediastay is a major player in the creation of qualified contacts on the Internet for major customers.
WEBHELP : Webhelp is a french leading player in offshore and inshore CRM outsourcing : multicanal (helpdesk, telemarketing, e-mail, regular mail, chat), multiservices (consulting, integration) in several languages. Webhelp created in 2000, employs 4 000 peoples in three countries: France (Paris and Caen), Morocco and Romania.
Several major new investments are being made for a total investment value ranging from ¤ 6 to 10 m.
As of 30th June 2007, the NAV (Net asset Value) per share is up 9.9% since the IPO (December 2006) at 12.20 ¤ par share.
The objective of Turenne Investissement is to pay out 25% of the distributable net income.
First warrant (« BSA A ») exercise period: from the 6 to the 12 November 2007
The cash raised at the IPO of Turenne Investissement is about to be invested in the next few months. Hence, a new step can now be made for Turenne Investissement to keep growing, through exercising the first tranche of warrants ("BSA A"). The features of which are the following ones :
- Detachment and separate listing of both tranches of warrants (« BSA A » and « BSA B »): September 3, 2007.
- From the 6 to the 12 November 2007: exercise period of the first tranche of warrants (« BSA A »).
- Conversion ratio: one new common share will be received in exchange for two « BSA A ».
- Exercise price: 15% on the volume weighted average price calculated between October 23 and November 5, 2007. The exercise price will be announced on November 6, 2007.
The second tranche of warrants will be exercisable in October 2008.
About Turenne Investissement
Turenne Investissement, the listed private equity vehicle created by Turenne Capital in December 2006, invests and disinvests with the funds managed by Turenne Capital.
As a reference investor, Turenne Investissement aims to invest in high-growth SMEs, mostly unlisted, directly or through OBO operations in the following sectors : healthcare, specialised distribution, innovative industry, and services.
ISIN code : FR0010395681 - Mnemonic code : ALTUR
Tél. : 01 53 43 03 03
Tél. : 01 53 67 35 79
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