The required cash flow of approx. EUR 2 million has arisen from the sale of shares in SysOpen Digia Plc by the fund and the partial repayment by StaffPoint Oy of its subordinated loan. As a result of this cash flow, the fund has repaid to investors the original contributed capital as well as the preferred return calculated on capital and has begun to generate carried interest. The carried interest now received by CapMan from the fund has no significant effect on the 2007 result. New exits and add-on investments possibly made by the fund will impact on carried interest income.
The investee companies still in Finnventure Fund V’s portfolio are Å&R Carton AB, SMEF Group A/S, Metallfabriken Ljunghäll AB, StaffPoint Oy, Copterline Oy, Pretax Oy, Hantro Products Oy, Medianorth Group Oy, Tieturi Oy, Siennax International BV, Exidio Oy, Fastrax Oy, Foreca Oy and Secgo Software Oy. At 31 December 2006 the fund’s portfolio at fair value totalled EUR 55.4 million, including the sold shares in SysOpen Digia Plc and the repaid portion of StaffPoint’s subordinated loan. Approx. EUR 10 million of the fund’s total committed capital remains to be paid-in.
For further information, please contact:
Olli Liitola, CFO, tel. +358 9 6155 8306 or +358 400 605 040
CAPMAN PLC
Jerome Bouix
Partner
Fundraising, IR and Communications
DISTRIBUTION
Helsinki Exchanges
Principal media
www.capman.com