Gimv NV — Capital/Financing Update 2011

Nov 8, 2011

Antwerpen / 8 november 2011 / 7u30 CET

Gimv verkoopt de meerderheid van zijn belang in het Franse Tinubu Square

Gimv verkoopt het grootste deel van zijn minderheidsbelang in Tinubu Square, dat oplossingen voor kredietbeheer aanbiedt, aan het Franse staatsinvesteringsfonds Fonds Stratégique d'Investissements (FSI). Het resterende belang maakt deel uit van een overeenkomst tussen Gimv en het management van Tinubu Square die bepaalt dat beide partijen het belang binnen de komende 30 maanden mogen verkopen/kopen.

Tinubu Square (www.tinubu.com), opgericht in 2000, levert aangepaste en gemakkelijk te implementeren oplossingen voor kredietbeheer aan financiële instellingen en grote bedrijven. Het bedrijf is marktleider in Frankrijk en steeds prominenter aanwezig buiten zijn thuismarkt. Onder zijn klanten bevinden zich multinationals zoals CESCE, Coface, Crédit Agricole en RBS. Sinds Gimv in 2002 aandeelhouder werd, is Tinubu Square van een start-up uitgegroeid tot een onderneming met meer dan 13 miljoen EUR aan (verwachte) inkomsten in 2011 en met kantoren in Frankrijk, Groot-Brittannië en Singapore.

Jérôme Pezé, CEO van Tinubu Square, blikt tevreden terug op de verwezenlijkingen met Gimv als partner: "We hebben sinds 2002 niet alleen een uitstekende relatie opgebouwd met Gimv, zij hebben ook een waardevolle ondersteuning geboden aan Tinubu Square en ervoor gezorgd dat we technologisch konden uitbreiden. Dat is een bepalende factor geweest in de ontwikkeling van de activiteiten, vooral in het buitenland."

De verkoop van Tinubu Square heeft geen noemenswaardige impact op het laatst gepubliceerde eigen vermogen van Gimv op 30 juni 2011. Voor de hele looptijd van de investering betekent dit een positief rendement licht onder het langetermijngemiddelde van Gimv. Er worden geen verdere financiële details over deze transactie bekendgemaakt.

Voor meer informatie nodigen wij u uit het bijgevoegde persbericht van Tinubu Square te lezen.

Voor meer informatie kunt u contact opnemen met:

Dhr. Frank De Leenheer – Investor Relations & Corporate Communications Manager T +32 3 290 22 18 – frank.deleenheer@gimv.com

Dhr. Steven Coppens – Partner Venture Capital T +32 3 290 21 43– steven.coppens@gimv.com

Gimv is een Europese investeringsmaatschappij met 30 jaar ervaring in private equity en venture capital. Het bedrijf is genoteerd op NYSE Euronext Brussel en beheert momenteel 1,9 miljard EUR (inclusief fondsen van derden).

Gimv investeert in buyouts en verstrekt groeifinanciering aan gevestigde bedrijven en daarnaast verstrekt Gimv via gespecialiseerde teams durfkapitaal aan bedrijven actief in Life Science, Technologie en Cleantech. Hiervoor kan Gimv zich beroepen op een regionale aanwezigheid met vestigingen in België, Nederland, Frankrijk, Duitsland en een uitgebreid internationaal expertisenetwerk.

Specifieke activiteiten of welbepaalde landen benadert Gimv via gespecialiseerde fondsen, al dan niet in samenwerking met ervaren partners. Voorbeelden hiervan zijn Gimv-XL, Gimv-Agri+, DG Infra+, DG Infra Yield, enz.

Meer informatie over Gimv vindt u terug op www.gimv.com

Press release November 8, 2011

Fonds Stratégique d'Investissement to take an equity stake in Tinubu Square

To accelerate Tinubu Square's expansion, the Fonds Stratégique d'Investissement (FSI) will be investing €11.3 million in the company, alongside its founding shareholders.

The FSI's investment will strengthen Tinubu Square's financial structure, enabling it to draw on its technological advances and finance its expansion plans and build further on its success with institutional customers (credit insurers and banks) and boost its presence in the corporate sector. Long standing shareholder Gimv confirms its commitment by maintaining a significant holding in Tinubu Square's capital, allowing it to benefit from Tinubu Square's growth potential over the coming years.

Tinubu Square is the No. 1 cloud computing company in the credit risk management sector. Through its platform-mode SaaS, Tinubu Square offers an innovative range of services and software for companies (Risk Management Center), credit insurers and brokers (Credit Insurance Suite) in response to their specific and evolving needs. Tinubu Square's solutions are used by leading international companies and a number of major credit insurers. Present in London since 2010, Tinubu Square has recently established a subsidiary in Singapore

Risk Management Center (RMC SaaS) especially developed for corporates:

Tinubu Square is now making available the quality of its analyses, its reliability and its technological lead to French and European groups and companies. Providing rapid credit assessments, simple to use, designed to receive tens of thousands of client accounts without needing to invest time or IT resources, Tinubu Square's RMC currently has no equivalent on the market. For companies with widespread and complex operations, with numerous branches and subsidiaries, the RMC offers complete visibility of all their risks as well as a comprehensive monitoring service. Collaborative and easy to use, it manages information received from multiple sources and represents the perfect place to share economic, financial and commercial data.

For SMIs and large international groups alike, Tinubu Square's RMC is also the "perfect tool" for managing credit insurance policies. By automating most of the time consuming administrative tasks involved in managing a credit insurance policy, the RMC gives the credit manager freedom to concentrate on his real job: risk strategy and adapting it to current economic conditions.

Credit Insurance Suite (CIS) developed for credit insurers and brokers:

Numerous credit insurers, including some of the largest, have chosen Credit Insurance Suite for its range of software which covers the specific functional needs of a credit insurance company; for its capacity to collect and structure information from multiple sources as well as its competence regarding credit risk analysis. The reactivity of its systems, which provide a same day service for 93% of credit limit requests on France and 85% on Europe, has enabled Tinubu Square to be selected by credit

insurers from emerging market countries as their choice of partner for managing their risks in Europe and North America.

Jérôme Pezé, President of Tinubu Square: "FSI is a long-term shareholder that supports Tinubu Square's business model, shares its ambition to continue its international expansion and to support its research and development, consolidating its competitive advantage. Operating at the heart of the inter-company credit system, Tinubu Square will be able to grow whilst maintaining its independence from the industry players. Gimv's desire to continue to support Tinubu Square reflects the quality of their relationship, built since 2002."

Bertrand Finet, Director, Member of the FSI Executive Committee: "The FSI is delighted to be able to support the development of this innovative company, alongside its founding members. Tinubu Square benefits from unique technology and renowned savoir-faire within the area of trade credit management and credit insurance as client credit and the smooth flow of business transactions remain key elements for the French economy. This investment represents the FSI's first in the field of cloud computing, and complements its existing interests in the digital sector. "

About:

FSI

With €20 billion of Equity, 51% owned by Caisse des Dépôts et Consignations (rated AAA) and 49% by the French state, FSI is a savvy investor which is involved in equity to take minority stakes in French companies with industrial projects that create value and competitiveness for the economy.

For further information: www.fonds-fsi.fr

Tinubu Square

A French company, created in 2000 by Jerôme Pezé, Pierre-Emmanuel Albert et Olivier Placca, Tinubu Square is the unique cloud technology company of the trade credit industry. Since its creation it has recorded strong and consistent growth.

For further information: www.tinubu.com

Contact: Marine Wemaere - Tel : +33 (0)1 55 95 94 83 Standard – Tel : +33 (0)1 55 95 85 85