AMANDA CAPITAL PLC STOCK EXCHANGE RELEASE
February 16, 2011
CORRECTION TO AMANDA CAPITAL PLC’S 16.2.2011 STOCK EXCHANGE RELEASE
The following items have been corrected in Amanda Capital Plc’s financial statements 1 January to 31 December 2010.
In the section “Summary of the events in January – December”, the company’s correct operating profit in the reference period is EUR -4,5 million and the correct consolidated earnings after taxes is EUR –2,6 million in the reference period.
In the section “Investment Operations”, the correct degree of investment (book value of private equity investments per equity) is 91,8%, and 79,0% in the reference period. During the period under review, the private equity funds called in capital in the amount of approximately EUR 8.7 million and returned approximately EUR 2.7 million to the company as capital returns and EUR 1.9 million as distribution of profits.
Below are all of the corrected sections.
SUMMARY OF THE EVENTS IN JANUARY – DECEMBER
- The Group’s management fees totalled EUR 4.0 million (EUR 4.3 million from 1 Jan. to 30 Dec. 2009).
- The Group’s net investment income was EUR 1.1 million (EUR -5.3 million).
- The Group’s operating profit was EUR 1.8 million (EUR -4.5 million).
- Consolidated earnings after taxes were EUR 0.8 million (EUR -2.6 million).
- Earnings per share were EUR 0.04 (EUR -0.11).
- During the period under review, equity per share increased by EUR 0.23 to EUR 1.94 (EUR 1.71).
- The equity to assets ratio was 85.9% (89.7%).
- The aggregate return of Amanda Group’s private equity investments since the beginning of the investment operations was 21.8% p.a.(IRR).
- On 21 December 2010, Amanda Capital Plc agreed to join forces with eQ Asset Management Group and Advium Corporate Finance Ltd. If the proposed transaction takes place, the Board of Directors of Amanda have decided to appoint Janne Larma CEO of the company.
- The combined entity will be a strong Finnish company that specialises in the management of private equity and alternative investments, traditional asset management and corporate finance advisory services.
INVESTMENT OPERATIONS
In the last quarter of 2010, Amanda Capital Plc did not make any new, direct investments in private equity funds. The private equity funds of funds that are the investment object of Amanda continued, however, with their active investment operations.
Amanda has investments in 23 private equity funds and five private equity funds of funds under the company's own management. Amanda's degree of investment (book value of private equity investments per equity) was 91,8% (79,0%). Amanda's over-commitment degree was 129.6% (161.6%). During the period under review, the private equity funds called in capital in the amount of approximately EUR 8.7 million and returned approximately EUR 2.7 million to the company as capital returns and EUR 1.9 million as distribution of profits.
Detailed information on Amanda's current private equity fund investments can be found on the company website at www.amandacapital.fi.
AMANDA CAPITAL PLC
Additional information: Petter Hoffström, CEO, tel. +358 9 6829 6012
Distribution: OMX Nordic Exchange, Helsinki, www.amandacapital.fi