Press release - 31 May 2006
CapMan exits Sentera
Finnventure IV, V and V ET funds managed by CapMan have sold their shareholding in Sentera Plc to SysOpen Digia Plc. The funds’ exit from Sentera Plc does not have impact on CapMan Plc’s result for 2006, as the exiting funds have not begun to generate carry.
Prior to the exit, CapMan funds’ holding in Sentera Plc totalled 3,997,811 shares or approx. 30.1% of the company’s shares. The share sale price was EUR 3.20 per share, or a total of approx. EUR 12.8 million. The purchase price is 24.5% higher than the closing price of Sentera’s share on 29 May 2005, and 27.0% higher than the trade volume weighted average share price of Sentera’s share on the NM list of the Helsinki Stock Exchange during the 12 months prior to the acquisition. SysOpen Digia Plc paid the main part of the transaction in cash and a small part with the company’s own shares. Following the transaction, CapMan funds own 699,616 SysOpen Digia Plc shares or approx. 3.5% of the company’s shares.
Finnventure IV, V and V ET funds invested in Solagem Oy in 2000, and Solagem Oy and listed company Iocore Plc were merged in summer 2003. In connection with the merger, Finnventure V and V ET funds made add-on investments in the company. Sentera Plc, which was formed in the merger, is an information solution provider that develops and delivers business-critical information systems and integration solutions in Finland and neighbouring areas. Sentera provides solutions for integration between systems, companies, business operation processes and delivery chains as well as for enterprise resource planning (ERP) and financial management. Sentera’s turnover in 2005 was approx. EUR 27 million and operating profit was EUR 3 million. In terms of the return multipliers the investment in Sentera has been reasonable and the add-on investment good for investors in CapMan funds.
Press conference:
SysOpen Digia and Sentera will hold a joint briefing for analysts and the media on Wednesday, 31 May 2006, at 11 a.m. in the Marski’s Carl cabinet at Scandic Hotel, Mannerheimintie 10, Helsinki. Welcome. The briefing will be attended by SysOpen Digia’s CEO Jari Mielonen, Director Ari Kemppainen and Director Tomi Merenheimo. From Sentera, Chairman of the Board of Directors Timo Tiihonen and CEO Juha Sihvonen will attend. From CapMan Investment Director Johanna Lindroos will be present.
For further information, please contact:
Johanna Lindroos, Investment Director, CapMan Technology, tel. +358 9 6155 8359 or +358 40 775 7568
Timo Tiihonen, Senior Advisor, CapMan Technology, Chairman of the Board of Sentera Plc, tel. +358 9 6155 8352 or +358 40 702 7213
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