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GIMV sells its stake in BMT to the Seynaeve family
GIMV announces that it has signed a sales agreement with the Seynaeve family, through the holding SMH NV controlled by the latter. The Seynaeve family will buy 95.089 BMT shares, i.e. a 12,5% stake in BMT, which are now owned by trust authorities.
If this suspensive condition is executed and the sale can take place, GIMV will realize capital gains on this transaction for a total of 8.6 million euro. GIMV's net asset value will positively be impacted by 3.9 million euro (or 0.17 euro per share), following the discount that is applied by GIMV for calculating the net asset value in accordance with the EVCA rules (*). By selling the shares this discount is of course no longer applicable.
(*) In accordance with the EVCA guidelines of March 2001 for calculation of the net asset value GIMV is applying a discount to the market price of the shares of its listed participations as a function of liquidity. The discount applied as a function of the liquidity is dependent on the quarterly trading volume of the share concerned and on the number of shares held by GIMV. If the number of shares held comes to less than 10 percent of the quarterly volume, no discount is applied. Where the number of shares held amounts to between 10 and 30 percent of the quarterly volume, a discount of 15 percent is applied. In all other cases, a discount of 25 percent is applied.
For more information, please contact:
Mr. Guy Mampaey - Director Corporate Investment Belgium GIMV
Tel: +32 3 290 21 10 - E-mail: email@example.com