Update on recent exit activities of Gimv

11/03/2013 - 07:30 | Portfolio

Gimv announces today that its full participation in the American pharmaceutical company Astex has been sold. Astex researches, develops and commercializes new drugs against cancer and other diseases for which as yet no effective cures have been found. The sale has a slightly positive impact on Gimv’s last published equity value at 31 December 2012 (EUR 0.9 million or EUR 0.04 per share). Over the entire period this investment realised an insignificant return.

Recently Gimv and Gimv-managed Biotech Fonds Vlaanderen reduced their stake in biotech firm Ablynx with more than 25%. On 5 March 2013 our total participation amounted to 5,825,939 shares (2,897,065 shares of Gimv and 2,928,874 shares of BFV). After this divestment and the capital increase our total participation in Ablynx diluted to 12.1% on 5 March 2013, which brings us under the statutory threshold of 15%. This partial exit has a positive impact EUR 1.8 million or 0.07 EUR per share on the last published equity value of Gimv at 31 December 2012.

Despite ongoing efforts to preserve liquidity and reposition the company within the industry and after intensive discussions with potential buyers, Verbinnen Poultry Group announced on 25 February 2013 its decision to file a petition for winding up. The total loss of this investment has no additional impact on the last published equity value of Gimv at 31 December 2012.

Read all press releases