ANNUAL REPORT 2007 | 2008 - Gimv

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34. OFF-BALANCE SHEET OBLIGATIONS AND MAJOR PENDING LITIGATIONS (IN EUR 000) Name fund Year Currency Total commitment 146 | Gimv Annual Report 2007-2008 | Statutory consolidation Total commitment 1 CORPORATE INVESTMENT Buy out Fund 1999 EUR 12 400 12 400 CapMan VIII Buyout 2006 EUR 20 000 20 000 Corpeq Urals Fund2 1999 EUR 1 000 1 000 DKB Emerging Europe L.P. 2001 USD 3 173 2 943 Eagle Russia fund2 2006 USD 10 000 6 949 EPF I 1996 EUR 1 524 1 524 EPF II 2001 EUR 5 000 5 000 EPF III 2006 EUR 5 000 5 000 Fintech Gimv Fund 2007 USD 15 000 9 620 Halder-Gimv Germany A2 2003 EUR 15 000 15 000 Halder-Gimv Germany B2 2003 EUR 19 069 19 069 Halder-Gimv Germany II 2008 EUR 81 250 81 250 Industri Kapital 1997 EUR 3 500 3 500 Kazakhstan Fund2 1997 EUR 2 000 4 432 Lyceum Capital I 2000 EUR 75 000 75 000 Lyceum Capital II 2008 GBP 21 000 26 389 Nova Polonia 2000 EUR 10 450 10 450 Pragma 2007 EUR 40 000 40 000 Rabo Black Earth2 1996 EUR 300 242 Rendex 1999 EUR 3 099 3 099 Czech Fund2 2000 EUR 9 835 9 835 Vectis 2004 EUR 3 000 3 000 Outstanding commitment on 31/03/08 Value on 31/03/08 Total Corporate Investment 355 701 176 196 70 296 CLEANTECH Emerald Technology Ventures II 2006 EUR 30 000 30 000 Total Cleantech 30 000 21 694 8 009 LIFE SCIENCES Abingworth Bio. II 1997 USD 3 006 4 193 Abingworth Bio. IIIB 2001 USD 5 000 4 804 Alta Biopharma Partners III 2004 USD 10 000 7 607 Forward Ventures 4 2000 USD 5 000 4 729 OBP II 1996 USD 1 000 882 OBP II Annex 2002 USD 2 848 3 013 OBP II Adj. 1996 USD 6 000 5 561 OBP III 1999 USD 3 600 3 792 OBP III Adjunct 1999 USD 14 400 14 786 OBP IV 2001 USD 12 000 10 706 Sofi nnova Venture III 1998 EUR 2 284 2 284 Sofi nnova Venture IV 2000 EUR 10 000 10 000 Sofi nnova Venture V (FR) 2005 EUR 7 500 7 500 Total Life Sciences 79 859 5 548 37 093 INFRASTRUCTURE DG Infra+ 3 2007 EUR 30 000 30 000 Total Infrastructure 30 000 27 413 2 588
34. OFF-BALANCE SHEET OBLIGATIONS AND MAJOR PENDING LITIGATIONS (IN EUR 000) - CONTINUED Name fund Year Currency Total commitment Total commitment 1 INFORMATION & COMMUNICATION TECHNOLOGY AIC 2000 EUR 1 250 1 250 Alta Berkeley V 1996 EUR 2 000 2 000 Alta Berkeley VI 2000 EUR 3 000 3 045 Baekelandfonds 1999 EUR 1 200 1 200 Charles River 07 1998 USD 2 500 2 009 Charles River 08 1999 USD 2 000 1 827 Charles River 09 1999 USD 3 000 3 008 Charles River 10 2000 USD 5 460 5 560 Charles River 11 2000 USD 3 677 3 365 Galileo II 1998 EUR 2 287 2 287 Galileo II B 2002 EUR 360 360 Galileo III 2000 EUR 3 150 3 150 Genesis III 2000 USD 10 000 7 030 Gimv-Arkiv ICT Fund2 2006 EUR 15 100 15 100 I-source 2006 EUR 5 000 5 000 IT Partners 1997 EUR 7 442 7 442 MTV I 1997 USD 5 000 4 556 MTV III 2000 USD 2 675 2 579 Pacven Walden III 1997 USD 1 000 828 Pacven Walden IV 1998 USD 2 000 1 977 Pacven Walden V 2001 USD 1 920 1 713 Sofi nnova Venture V (USA) 2000 USD 3 500 3 367 Outstanding commitment on 31/03/08 Value on 31/03/08 Total ICT 78 654 22 372 16 123 Overall total 574 213 253 223 134 109 1 Amounts already paid are recorded in historical exchange rates, amounts still payable are recorded at the exchange rate on 31 March 2007 2 These funds are being managed by a management company in majority owned by Gimv 3 This fund is being managed by a management company of which Gimv owns 50 percent | 147
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ANNUAL REPORT 2007 | 2008
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KEY FIGURES LIMITED CONSOLIDATION 3
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GIMV AT A GLANCE AN ACTIVE INVESTOR
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Strong performance and expansion in
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In 2007-2008 Gimv realised 10 new i
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Structure | 08 Strategy | 09 Market
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STRATEGY Gimv is an independent, li
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Fundraising Provisional fi gures fr
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35000 30000 25000 20000 15000 10000
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(EUR 6.6 million), Gimv realised in
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Business units Regions Corporate In
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When, in the case of a potential sa
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Gimv takes 86 percent holding WALL
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Gimv accompanies growth through buy
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GIMV OFFERS CREDIBILITY ALFACAM GRO
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Joint venture of network and experi
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Gimv majority shareholder in TerSta
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HVEG - (LowLand Fashion) www.lowlan
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Corporate Investment Germany (Halde
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Gimv invests in world leader VAG DE
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Corporate Investment’s ten larges
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Overview of major shareholdings in
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Oree develops revolutionary lightin
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Liquavista www.liquavista.com Dutch
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DIVESTMENTS Business Architects www
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Overview of the Gimv ICT portfolio
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Gimv continues to support sharehold
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GIMV IS A REFERENCE IN THE BIOTECH
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PamGene www.pamgene.com PamGene, a
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Cleantech Last year Gimv took its f
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INVESTMENTS Electrawinds www.electr
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Human resources | 60 Responsible co
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Policy-wise, Gimv is paying ever gr
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RESPONSIBLE CORPORATE BEHAVIOUR You
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Management | 66 Corporate Governanc
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Zeger Collier has had a varied care
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Eric Spiessens is a member of the e
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Paul De Ridder has been a member of
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1.2 - Evolution of capital The capi
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“Prior to the Board of Directors
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Finally the audit committee analyse
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This includes: - joint fi xed remun
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- Rights and duties of shareholders
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10.4 - Threshold for calling a shar
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Volume 16 000 000 14 000 000 12 000
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6 - Dividend policy The Board of Di
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9 - Financial calendar 22 May 2008
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DURING THE 2007-2008 FINANCIAL YEAR
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INTRODUCTION 1. GENERAL INFORMATION
Page 99 and 100: 2. CONSOLIDATED BALANCE SHEET (IN E
Page 101 and 102: Issued capital Sharepremium account
Page 103 and 104: 6. DIVIDENDS, INTEREST, MANAGEMENT
Page 105 and 106: Other operating income and expenses
Page 107 and 108: The distribution of cash and cash e
Page 109 and 110: STATUTORY CONSOLIDATION 1. CONSOLID
Page 111 and 112: 2. CONSOLIDATED BALANCE SHEET (IN E
Page 113 and 114: Attributable to shareholders of the
Page 115 and 116: 4. CONSOLIDATED CASH FLOW STATEMENT
Page 117 and 118: 5.9 Property, plant and equipment P
Page 119 and 120: more appropriate or whether there i
Page 121 and 122: 6. IMPACT OF NEW OR AMENDED STANDAR
Page 123 and 124: 8. SUBSIDIARIES - CONTINUED Informa
Page 125 and 126: Assets NON-CURRENT ASSETS 31/03/08
Page 127 and 128: Buy-outs Infrastructure Overhead St
Page 129 and 130: Buy-outs Infrastructure Overhead St
Page 131 and 132: Unrealised gains and losses by acti
Page 133 and 134: 14. TAXES (IN EUR 000) 2007-2008 20
Page 135 and 136: 16. PAID AND PROPOSED DIVIDENDS The
Page 137 and 138: 17. GOODWILL EN ANDERE IMMATERIËLE
Page 139 and 140: 19. GOODWILL IMPAIRMENT The goodwil
Page 141 and 142: 22. INVENTORIES (IN EUR 000) Gimv a
Page 143 and 144: 26. PENSION LIABILITIES (IN EUR 000
Page 145 and 146: Restructuring provision Environment
Page 147 and 148: 29. RELATED PARTIES (IN EUR 000) Ye
Page 149: 30. FINANCIAL RISK MANAGEMENT See D
Page 153 and 154: Current liabilities rose by almost
Page 155 and 156: 37. CONNECTION BETWEEN LIMITED AND
Page 157 and 158: 1. BALANCE SHEET AFTER DISTRIBUTION
Page 159 and 160: GLOSSARY Blue chip: a company that
Page 161 and 162: Concept & design Concerto Photograp
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