CapMan Plc has sold its Sampo plc shares, a total of 2,931,260 shares. The market value of the shares was approximately EUR 30 million, and the effect on CapMan Plc’s 2001 result after financial items is about EUR 18 million.
As a result of the share sale, CapMan’s profit after financial items in 2001 is estimated to amount to approximately EUR 28 million. Hence profit after taxes and minority interests would reach the same level as in 2000, when the profit was EUR 20.1 million. According to the published dividend policy, CapMan’s objective is to distribute at least 50 per cent of the net profit in dividends.
Sampo plc shares were transferred to CapMan in connection with the merger of Vestcap Oyj and CapMan. During the merger process Mandatum Bank Oyj and Sampo-Leonia were combined through a share exchange. As a result Mandatum Bank Oyj shares owned by Vestcap were exchanged for Sampo plc shares.
The share sale diversifies CapMan’s investment assets and frees capital for the development of the company and implementation of its growth strategy. CapMan also aims to increase investments made from its balance sheet from the present one per cent to about 5 – 10 per cent of capital in future funds. At present, CapMan manages 12 private equity funds with approximately EUR 1 160 million in total capital, of which EUR 460 million is managed through our affiliated company Access Capital Partners, which invests in European private equity funds.
CapMan Plc
Anne Pirilä
Communications Manager
