Altamir - 2018 Registration document

3

Financial statements

Statutory financial statements

Provisions for impairment related to a provision on the Altrafin receivable of €12.2m and to a provision for impairment for the Apia Vista private equity fund (€2.5m).

3.2.3 Corporation tax The Company opted for the tax status of SCR (société de capital risque) as of the financial year ended 31 December 1996. This status requires compliancewith certain criteria, in particular the limitation of debt to 10%of shareholders’ equity and the eligibility of securities held. The legislation on SCRs applicable as of 2001 exempts all income from corporation tax. The Company does not recover VAT. Non-deductible VAT is recognised as an expense in the income statement.

3.2.4 Extraordinary expenses

31/12/2016

31/12/2017

31/12/2018

(in thousands of euros)

EXTRAORDINARY EXPENSES

52

42

149

3.2.5 Extraordinary income

31/12/2016

31/12/2017

31/12/2018

(in thousands of euros)

EXTRAORDINARY INCOME

98

3,133

85

NOTE 4 Other information

TheCompany has positive retained earnings of €91,323.68, which correspond to the undistributed income on treasury shares for the financial years 2011 to 2017. The general partner and the Class B shareholders have the right to receive a portion of distributable earnings, calculated in accordance with the method presented in paragraph 25 of the Company’s Articles of Association. The calculationmade for this purpose showed a nil amount for 2018. Accordingly, no amount will be paid in 2019.

EMPLOYEES

4.1

The Company has no employees, and no stock option plan in place.

RIGHTS OF THE GENERAL PARTNER AND CLASS B SHAREHOLDERS

4.2

The Company generated net income of €11,139,091.27 in 2018.

146 Registration document ALTAMIR 2018

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