Report on activities Q3 2010 12-11-2010
Financial net debt reduced from EUR 249 million at December 31, 2009 to EUR 40 million, a reduction of EUR 209 million
On November 10, 2010, the intrinsic value amounted to EUR 302
compared to EUR 290 at June 30, 2010 (+ 4%)
SIGNIFICANT EVENTS SINCE June 30, 2010
The Compagnie pursued its politic of debt reduction and reinforcement of its balance sheet structure.
As announced in early October, Compagnie du Bois Sauvage finalized in consultation with officers of the Bank Degroof, the sale of its entire stake in Bank Degroof (14%) to a consortium comprising Group Cobepa and Cigrang family. The transaction is subject to the approval of supervisors. The payment of this transaction will occur upon receipt of approval (within 90 days of the transaction).
The Company has also continued to reduce its stake in Cofinimmo (sale of 130,000 shares) and sold most of its stake in Tessenderlo.
Subject to the approval of the transaction by Bank Degroof, its consolidated net debt was reduced to EUR 40 million, down EUR 209 million since January 1, 2010.
Pursuant to authorization by the Extraordinary General Meeting on April 28, 2010 to buy back shares, Compagnie du Bois Sauvage has given a discretional mandate to ING Belgium to run this program independently from October 18, 2010. On November 8, 2010, 1,279 shares were redeemed. The transaction history is available on www.bois-sauvage.be (Shareholders information - Shares buyback).
The results and/or trends of the principal holdings at September 30, 2010 are in line with expectations.
OUTLOOK FOR THE CURRENT FINANCIAL YEAR
Maintaining its confidence in the assets quality, the Board remains vigilant with respect to the market evolution and is prudent on the outlook over the short and medium term.
March 7, 2011 (5:35 pm) Annual results 2010
The Management Committee
The Compagnie du Bois Sauvage is a holding company under Belgian law, quoted on Euronext Brussels, with a majority shareholder that is "family" and stable.
Its purpose is to take participating interests in both listed and unlisted companies.
It aims to support talented businessmen and businesswomen, whether financiers or industrialists, who seek support during their company's existence.
It thus provides help, not only in terms of financial management, but also for the structure and stability of the shareholding of its participating interests.
As a real estate owner, it holds assets of quality, which are a source of stable, recurring revenue.
Extremely vigilant to the interest of its own shareholders, it aims at the creation of long-term value and distribution of a dividend that enjoys regular growth, higher than inflation.