ALTUR INVESTISSEMENT (formerly TURENNE INVESTISSEMENT): NAV AT SEPTEMBER 30, 2022 – 10/28/2022 at 6:00 p.m.

• NAV of €46.85 million as of September 30, 2022, i.e. €11.10 per share, down 1.76% over the quarter
  

Paris, October 28, 2022 –

ALTUR INVESTISSEMENT (Euronext – FR0010395681 – ALTUR) publishes its Net Asset Value (NAV) as of September 30, 2022, which amounts to €46.85 million, leading to a valuation of €11.10 per ordinary share, down on the 3

^th

quarter of 2022 (NAV of €11.30 per share as of June 30, 2022).

François Lombard, manager of ALTUR INVESTISSEMENT comments:

“During this 3

^th

quarter of 2022, Altur Investissement focused mainly on the management of its portfolio and made two investments in two innovative sectors, with an entry into the capital of Flexliving, a company in the Proptech sector (innovation in real estate), and a another in the capital of SerVme (CRM for catering). We have a substantial level of cash of around 11.6 million euros, a large part of which is already committed to co-investments and subscription to funds. »

NAV as of September 30, 2022

As of September 30, 2022, the Net Asset Value (NAV)

[1]

i.e. the present value of the portfolio and balance sheet items (cash and debt), amounted to 46.85 million euros compared to 47.71 million euros at June 30, 2022, i.e. a decrease of 1.76%.

As of September 30, 2022, the assets of ALTUR INVESTISSEMENT are composed of:

• A portfolio of 15 companies, 3 FPCIs and 2 SLPs valued at €34.82 million;
  

• Cash for 12.07 million euros (corresponding to cash of 11.6 million euros supplemented by the liquidity contract plus treasury shares);
  

• No financial debts.
  

Two investments made at 3

^th

trimester

Altur Investissement has invested in quasi-equity (BSA Air) in the company SerVme. The latter has developed SaaS software offering a turnkey service to restaurants ranging from booking to payment.

Altur Investissement has also invested in the capital of the company Flexliving. The latter offers a turnkey pied-à-terre near the office in the form of a subscription for regular business trips to individuals and companies.

Strategy and outlook for 2022

Given the uncertainties linked to the war in Ukraine, the rise in commodity prices and the rise in interest rates, the Altur Investissement management team wishes to exercise caution on new investments. Priority is given to supporting the managers of companies in which the company has invested, as we have done in previous troubled times.

However, Altur Investissement is studying investment opportunities in sectors where its teams have expertise, such as Education or Proptech.

Next meeting :

January 31, 2023

: NAV at December 31, 2022

Composition of the portfolio

To date, the financial assets of ALTUR INVESTISSEMENT are spread over 15 companies, 3 FPCIs and 2 portfolios invested in strategic sectors:

Health

:

• Acropolis
  
  designer and manufacturer of orthopedic implants for the shoulder, hip and knee;

• Menix,
  
  French leader in orthopedic prostheses and dental implants;

• BIOBank,
  
  French leader in the allograft sector;

• Cousin Biotech,
  
  designer and manufacturer of implantable medical devices in technical textiles;

• Naogen Pharma
  
  innovative radiopharmaceuticals for non-invasive molecular imaging;

• FPCI Capital Santé I
  
  FPCI managed by Turenne Capital and investing in the health sector;

• FPCI Capital Santé II
  
  FPCI managed by Turenne Capital and investing in the health sector;

• SLP Extens III, managed by Extens and investing in e-health.

Generational services

:

• Undertakers of France
  
  network of funeral agency franchisees and own agencies

High added value industry

:

• Sermeta,
  
  world leader in stainless steel heat exchangers for gas condensing boilers;

• Countum
  
  the French leader in industrial and transactional metering of petroleum products;

• EMP Rotational molding
  
  develops and produces custom rotomoulded parts that are 100% recyclable.

Specialized distribution

:

• start
  
  specialist in the import and wholesale of seafood products;

Hotel

:

• Mercure Nice Notre Dame
  
  establishment with 198 rooms;

• Mercure Lyon Center Chateau Perrache
  
  establishment with 120 rooms;

• FPCI Turenne Hôtellerie II
  
  FPCI managed by Turenne Capital and investing in the hotel sector.

Various :

• Camel,
  
  specialist in sending greeting cards on the Internet;

• trophy
  
  portfolio holding equity securities of three French SMEs;

• Flexliving,
  
  operator of flexible accommodation, part-time, in subscription format for regular business trips;

• Service,
  
  CRM for catering.

contacts

This press release may not be published, transmitted or distributed, directly or indirectly, in the United States, Canada, Japan or Australia. This press release and the information it contains do not constitute an offer to sell or subscribe, or the solicitation of an order to buy or subscribe, for securities in any country other than France.

This document (including any reproduction) may not be distributed or transmitted to the United States of America, including any branch or agency of a non-US person resident in the United States of America or any other person American. Any failure to comply with these restrictions could constitute a violation of the regulations of the United States of America relating to financial instruments (

United States Securities Laws

).

In the UK, this document is intended only for (i) persons who have professional investment experience as referred to in section 19(1) of the financial services and markets act 2000 (financial promotion ) order 2001 (l ‘“Order”), (ii) persons referred to in Article 49(1) (high net worth entities) of the Order, or (iii) persons who qualify as intermediary clients within the meaning of Chapter 4 of the Code conduct of the FSA (all of these persons being hereinafter referred to as “qualified persons”). This document is only intended for these categories of people. Persons who do not meet the definition of qualified persons should not consider or rely on this document or its contents. The distribution of this document in any other country may be subject to legal restrictions and persons in possession of this document must become aware of and comply with these restrictions. By taking possession of this document you are deemed to agree to be bound by the limitations.

[1]

This NAV is calculated without changing the method and presented before taking into account the share attributable to general partners.

© Copyright Actusnews Wire

Receive the company’s next press releases free of charge by email by subscribing to www.actusnews.com