Altamir - 2018 Registration document

3

Financial statements

Statutory financial statements

IMPACT OF DIVESTMENTS ON NET INCOME/LOSS:

Provision reversals

Impact on net income/loss

All companies

Sale price

Gain

Loss

Unlisted securities Total sale

23,899,948 16,804,029

18,067,942

18,191,544

16,927,631 6,934,096

Partial sale

3,558,444

6,941,850

7,754

Listed securities Total sale

12,689,675 70,842,732

4,376,989 13,348,735

0

4,376,989 11,382,681 39,621,398

Partial sale

1,966,054

TOTAL

110,990,799 41,471,603 20,041,750 18,191,544*

* The above provision reversals do not include reversals of accrued interest and the reversal of the provision on Apia Ciprés, i.e. €862,396.

1.1.2 Other events Altamir has short-term credit lines totalling €60m. It should be noted that, as an SCR, Altamir’s debt may not exceed 10% of its net asset value, i.e. €57.6m as of 31 December 2018. As of that date, the Company’s credit lines were drawn down by €33.3m.

n Apax Partners SAS has finalised the refinancing of Marlink, which optimises the company’s financing terms and will make it possible to pay dividends to shareholders. Two transactions totalling an estimated €15m have been announced since 31 December: n the investment inAssuredPartners via theApax IXLP fund; and n the acquisition by Apax Partners LLP, via the Apax IX LP fund, of a significant stake in Fractal Analytics. Based in Mumbai, India, Fractal provides artificial intelligence and data-based solutions that power human decision-making.

KEY EVENTS SINCE 31 DECEMBER 2018

1.2

Four transactions finalised after 31 December are expected to generate €184m in divestment proceeds: n Apax Partners SAS has signed an agreement to sell INSEECU., held by the Apax France VIII fund, to private equity company Cinven; n Apax Partners LLP has signed an agreement in principle with KKR with a view to selling Exact Software, held by the Apax VIII LP fund; n Apax Partners LLP has signed an agreement to sell Assured Partners to a consortium led by US private equity company GTCR. Apax Partners LLP, which held Assured Partners via the Apax VIII LP fund, will remain a minority shareholder of the company, as a co-investor alongside GTCR via the Apax IX LP fund; and

DISTRIBUTION OF DIVIDENDS

1.3

The dividend paid to the limited shareholders in 2018 for the financial year 2017 was €0.65 per ordinary share outstanding (excluding treasury shares), for a total of €23,732,995.65. In addition, dividends stipulated in the Articles of Association of €1,181,770.00and€10,635,933.00werepaid to thegeneral partner and to the holders of Class B shares respectively, for the financial year 2017. The total sum distributed for the financial year 2017 therefore amounted to €35,550,698.65.

CHANGES IN SHAREHOLDERS’ EQUITY

1.4

Share premiums

Retained earnings

Net income for the year

Share capital

Reserves 203,688

Total

(in thousands of euros)

Shareholders’ equity as of 31/12/17

219,260

107,761

74

69,887

600,669

2018 net income/loss

11,139

11,139

Allocation of 2017 net income/loss Allocation of 2017 net income/loss - treasury shares SHAREHOLDERS’ EQUITY AS OF 31/12/18

34,336

-69,887

-35,551

17

17

219,260

107,761

238,023

91

11,139

576,274

31/12/2016 36,512,301

31/12/2017 36,512,301

31/12/2018 36,512,301 (1)

Number of ordinary shares Par value of ordinary shares

6

6

6

Amount (in euros)

219,073,806

219,073,806

219,073,806

Number of Class B preferred shares Par value of Class B preferred shares

18,582

18,582

18,582 (2)

10

10

10

Amount (in euros)

185,820

185,820

185,820

TOTAL

219,259,626

219,259,626

219,259,626

(1) Including 40,000 held in treasury by Altamir as of 31 December 2018. (2) Including 12,164 held in treasury by Altamir as of 31 December 2018.

138 Registration document ALTAMIR 2018

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