ALTAMIR_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS Statutory financial statements

ANALYSIS OF CHANGE IN PROVISIONS ON EQUITY INVESTMENTS AND RELATED RECEIVABLES

Prov. revers. on divestment

Other prov. revers.

31/12/2015 31/12/2016 Allocations

31/12/2017

(in thousands of euros)

PROVISION

26,008

21,939

62

627

3,183

18,192

The provision reversals chiefly related to the revaluation of equity investments valued at market prices.

CHANGE IN UNREALISED GAINS NOT RECOGNISED IN THE ANNUAL FINANCIAL STATEMENTS

31/12/2015

31/12/2016

31/12/2017

(in thousands of euros) ESTIMATED VALUE

3

211,014

367,014

277,052

OTHER RECEIVABLES

2.5

STATEMENT OF CHANGES IN GROSS ACCRUED INTEREST

31/12/2015 31/12/2016

Increases

Reductions

31/12/2017

(in thousands of euros)

INTEREST ACCRUED ON RECEIVABLES RELATED TO EQUITY INVESTMENTS

64,881

56,885

7,260

32,449

31,695

STATEMENT OF CHANGES IN PROVISIONS ON ACCRUED INTEREST

31/12/2015 31/12/2016

Increases

Reductions

31/12/2017

(in thousands of euros)

PROVISIONS ON INTEREST ACCRUED ON RECEIVABLES RELATED TO EQUITY INVESTMENTS

64,881

56,885

7,260

32,449

31,695

The accrued interest on convertible bonds or equivalent securities has been fully written down. The Company has determined that accrued interest is included in the acquisition price of third parties and not paid by the debtor company.

SUNDRY RECEIVABLES

2.6

Sundry receivables consisted of two main items: „ a receivable due from portfolio funds relating to the total fees invoiced by these funds. At the close of the year, total fees paid to the various funds were higher than the share of fees that should have been borne to date (€8.3m);

„ accrued income relating to the 3% contribution on dividends. As this tax has been invalidated by the French Constitutional Council, Altamir requested the reimbursement of the amounts paid for the previous three years, amounting to€2.8m, plus the related interest as damages of €190k.

CASH ON HAND

2.7

As of 31 December 2017, the balance of cash on hand amounted to €1.3m.

SHORT-TERM INVESTMENT SECURITIES

2.8

2.8.1 Gross values

31/12/2015

31/12/2016

31/12/2017

(in thousands of euros)

Money-market mutual funds

0

0

0 0 0

Time deposits and certificates of deposit

29 000

5 000

Negotiable debt securities Other marketable securities

0

0

15 000 44 000

15 000 20 000

15 000 15 000

TOTAL

141

• ALTAMIR 2017

REGISTRATION DOCUMENT