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ALTAMIR AMBOISE : 11.39 euros NAV per share at 31 March 2010, up 3.3%
Disposals and strengthening of cash position
Altamir Amboise has signed an exclusivity agreement with VINCI to sell its stake in Faceo, a leading European player in Facility Management. The Company has also announced the future disposal of its stake in Vedici, the 5th largest acute care company in France, as well as the effective sale of one-half of its shares in the Cegid Group to Jean-Michel Aulas' holding company ICMI, at a share price of €21.15.
The expected proceeds from the disposal of these three holdings are in the order of €70m1, thus enabling Altamir Amboise to repay its Ahau30 financing in full and still have the necessary resources for making new investments.
NAV at 31 March 2010
At 31 March, only listed companies are revalued according to their market price at that date (unlisted companies are revalued twice a year at 30 June and 31 December).
Since the Faceo agreement was signed before the accounts at 31 March were closed, the holding was revalued at the disposal price less 10%, in accordance with Altamir Amboise's valuation methods and the accounting rules in force.
Net Asset Value per share2 rose from €11.03 at 31 December 2009 to €11.39 at 31 March 2010, an increase of 3.3% due entirely to the revaluation of Faceo.
At 31 March 2010, IFRS net assets were €415.8m and included:a portfolio of €438.3m (79% unlisted securities and 21% listed) a net debt of €10.4m: debt stood at €30.0m and cash reserves at €19.6m following the full drawdown of the Ahau30 funding.
The three operations mentioned above form part of the ambitious programme of disposals and new investments that Altamir Amboise has set itself for 2010.
3 August 2010: NAV at 30 June 2010 and half-yearly accounts
About Altamir Amboise
Altamir Amboise is a listed private equity company, targeting NAV per share growth in line with the top-performing private equity players.
The Company co-invests with the funds managed by Apax Partners SA, a leading private equity firm with over thirty years of investing experience. It offers investors access to a diversified portfolio of fast-growing companies across Apax's sectors of specialisation: Technology, Telecom, Retail & Consumer, Media, Healthcare, Business and Financial Services.
Altamir Amboise is listed on Euronext Paris, Compartment B, ticker: LTA, ISIN code: FR0000053837. It is listed in the CAC Small 90 and SBF 250 indices. The total number of Altamir Amboise ordinary shares in circulation at 31 December 2009 was 36,512,301.
For further information: www.altamir-amboise.fr
Agathe Heinrich - Communication Director
Tel.: +33 1 53 65 01 35
1 m = million
2 NAV (share of Limited Partners holding ordinary shares), net of tax liabilities
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