CapMan

CapMan Plc
Stock Exchange Release / Managers' Transactions            
28 November 2024 at 10.30 a.m. EET

CapMan Plc Managers' Transactions - Bygge

CapMan Plc has received the following notification under Article 19 of the Market Abuse Regulation from Bygge, Claes Johan.

____________________________________________

Person subject to the notification requirement

Name: Claes Johan Bygge

Position: Member of the Board/Deputy member

Issuer: CapMan Oyj

LEI: 743700498L5THNQWVL66

Notification type: INITIAL NOTIFICATION

Reference number: 86326/5/4

____________________________________________

Transaction date: 2024-11-27

Venue: NASDAQ HELSINKI LTD (XHEL)

Instrument type: SHARE

ISIN: FI0009009377

Nature of transaction: ACQUISITION

(X) Executed under portfolio or asset management

Transaction details

(1): Volume: 26400 Unit price: 1.7956 EUR

Aggregated transactions (1):

Volume: 26400 Volume weighted average price: 1.7956 EUR

CAPMAN PLC

Tiina Halmesmäki
General Counsel

Distribution:
Nasdaq Helsinki
Principal media
www.capman.com

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com   

CapMan Plc
Stock Exchange Release / Managers' Transactions           
28 November 2024 at 8 a.m. EET

CapMan Plc Managers' Transactions - Frimodig

CapMan Plc has received the following notification under Article 19 of the Market Abuse Regulation from Frimodig, Joakim.

____________________________________________

Person subject to the notification requirement

Name: Joakim Frimodig

Position: Member of the Board/Deputy member

Issuer: CapMan Oyj

LEI: 743700498L5THNQWVL66

Notification type: INITIAL NOTIFICATION

Reference number: 86289/5/4

____________________________________________

Transaction date: 2024-11-26

Venue: NASDAQ HELSINKI LTD (XHEL)

Instrument type: SHARE

ISIN: FI0009009377

Nature of transaction: DISPOSAL

Transaction details

(1): Volume: 65000 Unit price: 1.776 EUR

Aggregated transactions (1):

Volume: 65000 Volume weighted average price: 1.776 EUR

CAPMAN PLC

Tiina Halmesmäki
General Counsel

Distribution:
Nasdaq Helsinki
Principal media
www.capman.com

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com   

CapMan Plc
Stock Exchange Release / Managers' Transactions            
28 November 2024 at 8 a.m. EET

CapMan Plc Managers' Transactions - Frimodig

CapMan Plc has received the following notification under Article 19 of the Market Abuse Regulation from Frimodig, Joakim.

____________________________________________

Person subject to the notification requirement

Name: Joakim Frimodig

Position: Member of the Board/Deputy member

Issuer: CapMan Oyj

LEI: 743700498L5THNQWVL66

Notification type: INITIAL NOTIFICATION

Reference number: 86284/5/4

____________________________________________

Transaction date: 2024-11-26

Venue: NASDAQ HELSINKI LTD (XHEL)

Instrument type: SHARE

ISIN: FI0009009377

Nature of transaction: ACQUISITION

(X) Executed under portfolio or asset management

Transaction details

(1): Volume: 85000 Unit price: 1.7811 EUR

Aggregated transactions (1):

Volume: 85000 Volume weighted average price: 1.7811 EUR

CAPMAN PLC

Tiina Halmesmäki
General Counsel

Distribution:
Nasdaq Helsinki
Principal media
www.capman.com

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com   

CapMan Plc
Stock Exchange Release / Managers' Transactions            
25 November 2024 at 17.15 p.m. EET

CapMan Plc Managers' Transactions - Kåll

CapMan Plc has received the following notification under Article 19 of the Market Abuse Regulation from Kåll, Pia.

____________________________________________

Person subject to the notification requirement

Name: Gräshagen Invest Oy

Position: Closely associated person

(X) Legal person (1): Person Discharging Managerial Responsibilities In Issuer

Name: Pia Kåll

Position: Chief Executive Officer

Issuer: CapMan Oyj

LEI: 743700498L5THNQWVL66

Notification type: INITIAL NOTIFICATION

Reference number: 85977/5/4

____________________________________________

Transaction date: 2024-11-25

Venue: NASDAQ HELSINKI LTD (XHEL)

Instrument type: SHARE

ISIN: FI0009009377

Nature of transaction: ACQUISITION

Transaction details

(1): Volume: 28500 Unit price: 1.7289 EUR

(2): Volume: 500 Unit price: 1.754 EUR

Aggregated transactions (2):

Volume: 29000 Volume weighted average price: 1.72933 EUR

CAPMAN PLC

Tiina Halmesmäki
General Counsel

Distribution:
Nasdaq Helsinki
Principal media
www.capman.com

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com   

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

CapMan Plc
Stock Exchange Release
21 November 2024 at 16.30 p.m. EET

CapMan redeems its outstanding Notes issued in 2020

CapMan Plc (the "Company") will exercise its right to redeem the outstanding share of EUR 3,951,000 of the EUR 50 million notes issued on 2 December 2020 (ISIN: FI4000456132) (the "Notes") in accordance with clause 7.6 (Clean-up call option) of the terms and conditions of the Notes.

The outstanding Notes will be redeemed on 9 December 2024 (the "Redemption Date") in accordance with the terms and conditions of the Notes. On the Redemption Date, the Company will pay to the holders of the Notes a redemption price equal to 100 per cent of the principal amount together with any accrued interest until, but excluding, the Redemption Date.

This notice of redemption is irrevocable and is given to the issuer agent and holders of the Notes in accordance with the terms and conditions of the Notes.

CAPMAN PLC

Contact details:

Tuija Ottoila, Investor Relations, +358 50 458 4549

Distribution:
Nasdaq Helsinki
Principal media
www.capman.com

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.0 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

CapMan Plc
Stock Exchange Release / Financial Calendar
7 November 2024 at 10.00 a.m. EET

CapMan Plc's financial reporting and Annual General Meeting in 2025

CapMan Group will publish its Financial Statements Bulletin for 2024 on Thursday, 13 February 2025. The 2024 Annual Report, including the Financial Statements and the Report of the Board of Directors, will be published in March 2025 at the beginning of week 10.

The Annual General Meeting of Shareholders will be held on Tuesday,
25 March 2025, at 1.00 p.m. EET in Helsinki.

• Interim Report for the period 1 January - 31 March 2025 on

• Half-Year Financial Report for the period 1 January - 30 June 2025 on

• Interim Report for the period 1 January - 30 September 2025 on

6 November 2025

CapMan's financial information will be published in both Finnish and English. All financial information will be available immediately upon release on CapMan's website, www.capman.com.

CAPMAN PLC

Contact details:

Tuija Ottoila, Investor Relations, +358 50 458 4549

Distribution:
Nasdaq Helsinki
Principal media
www.capman.com

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.0 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

CapMan Plc
Stock Exchange Release / Q3 Interim Report
7 November 2024 at 8:00 a.m. EET

CapMan Plc 1-9 2024 Interim Report

Results for continuing operations and significant events in 1-9 2024:

• Assets under management EUR 6.0 billion 30 September 2024 (EUR 5.0 billion 31 December 2023).
• Group turnover was MEUR 43.7 1 January-30 September 2024 (MEUR 37.9 1 January-30 September 2023).
• Fee income was MEUR 39.9 (MEUR 34.9). 
• Carried interest was MEUR 3.8 (MEUR 3.0).
• Operating profit was MEUR 11.1 (MEUR 5.1). Comparable operating profit was MEUR 13.1 (MEUR 5.1).
• Fee profit was MEUR 6.5 (MEUR 3.9).

• Diluted earnings per share were 0.9 cents (2.4 cents). Comparable diluted earnings per share were 1.9 cents (2.4 cents).

• In March, CapMan Plc completed the acquisition of Dasos Capital Oy.

• In June, CapMan announced final tender offer results for its outstanding bond due 2025 and issued MEUR 60 sustainability-linked bond.
• In October, CapMan announced the divestment of service business CapMan Procurement Services (CaPS) Ltd for MEUR 75. CaPS business is classified as a discontinued operation in the income statement and the comparison periods' figures are restated accordingly.

This stock exchange release is a summary of CapMan Plc's Interim Report for the period 1 January-30 September 2024. The complete report is available in pdf-format as an attachment to this release and on the company's website at https://capman.com/shareholders/result-reports/.

CEO's comment:

The strong growth continued in the third quarter, as our assets under management are now up 20% from the start of the year at EUR 6.0 billion. This exceeds the overall market growth rate and is showing our resilience in a more challenging market environment.

CapMan's strategy is to grow the core business of private asset fund management. In line with the strategy CapMan and minority shareholders have on 31 October 2024 completed the divestment of service business CaPS for EUR 75 million.

Strong growth continued

Assets under management reached EUR 6.0 billion at the end of September. We have raised 430 million euros of new capital during the year, of which roughly half to Real Estate funds and mandates where we saw strong intake especially during the third quarter. In addition, the acquisition of Dasos Capital and formation of CapMan Natural Capital, and the successful final closes in Nordic Infrastructure II and Growth III funds, have contributed to the AUM growth.

AUM growth is the primary driver for fee income, which correspondingly grew 14% compared to the previous year. Several large strategic growth initiatives are currently ongoing that, if realised, will accelerate growth even further. We continue to drive AUM growth through all three growth levers; scaling existing products, where we have several funds currently in or preparing to launch fundraising, introducing new products, as well as advancing selected acquisitions. In the real estate flagship fund Nordic Real Estate IV with a target size of EUR 750 million, we continue to see strong investor interest for the strategy but the timing of the first close will move into 2025.

Fee profit development continued strong and grew almost 70% to 6.5 million euros, with clear improvement in fee profit margin compared to last year. This demonstrates the success in continuous improvement and the scalability of our business model.

Value creation in our funds continued strong. In the annual GRESB (Global Real Estate Sustainability Benchmark) assessment our participating Real Estate and Infrastructure funds improved their scores and are among the top funds in their respective peer groups. This is testament to our active ownership approach to integrate financial and sustainability value creation.

Divestment of service business CaPS to focus resources on accelerating growth of the core business

Over the coming years CapMan seeks to significantly grow earnings from its core business of private asset fund management. The divestment of CaPS is a natural step to achieve this, as it releases capital and allows us to focus all resources on developing the core business.

The transaction has a significant positive impact on CapMan's 2024 earnings, liquidity and solidity. The proceeds of the transaction will be used to grow the private asset fund management business, decrease interest bearing debt, and enable strong dividend distribution during the coming years. In connection with the divestment, it was announced that CapMan's Board of Directors currently expects to propose a total dividend of EUR 0.14 per share to the Annual General Meeting in 2025.

CaPS was founded 15 years ago, and as part of CapMan the team has systematically developed and grown the business into a stand-alone business and a valuable partner to its members and vendors. I want to thank the whole CaPS team for their excellent work and wish them all the best in the next phase of the journey.

Sincerely,

Pia Kåll

CEO, CapMan Plc

Key figures

MEUR 1-9/24 1-9/23restated
Continuing operations:
Operating profit 11.1 5.1
Items impacting comparability 2.0 -
Comparable operating profit 13.1 5.1

Result for the period 5.8 4.9
Items impacting comparability 1.8 -
Comparable result for the period 7.6 4.9

Earnings per share, cents 0.9 2.4
Items impacting comparability, cents 1.0 -
Comparable earnings per share, cents 1.9 2.4

Earnings per share, diluted, cents 0.9 2.4
Items impacting comparability, cents 1.0 -
Comparable earnings per share, diluted, cents 1.9 2.4

% 30.9.24 30.9.23

Return on equity, % p.a. 9.7 8.5
Return on equity from 8.0 5.0
continuing operations,
comparable, % p.a.
Equity ratio, % 48.6 48.8

Long-term financial objectives

CapMan's distribution policy is to pay sustainable distributions that grow over time. CapMan's objective is to distribute at least 70% of the Group's profit attributable to equity holders of the company excluding the impact of fair value changes, subject to the distributable funds of the parent company. In addition, CapMan may pay out distributions accrued from investment operations, taking into consideration foreseen cash requirements for future investments.

The combined growth objective for the Management Company and Service businesses is more than 15% p.a. on average. The objective for return on equity is more than 20% p.a. on average. CapMan's equity ratio target is more than 50%.

CapMan expects to achieve these financial objectives gradually and key figures are expected to show fluctuations on an annual basis considering the nature of the business.

Outlook estimate for 2024

CapMan's objective is to improve results in the long term, taking into consideration annual fluctuations related to the nature of the business. Carried interest income from funds managed by CapMan and the return on CapMan's investments have a substantial impact on CapMan's overall result. In addition to asset-specific development and exits from assets, various factors outside of the portfolio's and CapMan's control influence fair value development of CapMan's overall investments, as well as the magnitude and timing of carried interest. For these reasons, CapMan does not provide numeric estimates for 2024.

CapMan estimates assets under management to grow in 2024. The company estimates fee profit from continuing operations also to grow in 2024. These estimations do not include possible items affecting comparability.

Result webcast today at 9.30 a.m. EET

CapMan's management will present the result for the review period in a webcast to be held at 9.30 a.m. EEST. Please access the webcast at https://capman.videosync.fi/q3-2024. The conference will be held in English. A replay of the webcast will be available on the company's website after the event.

Helsinki, 7 November 2024

CAPMAN PLC
Board of Directors

Contact details:
Atte Rissanen, CFO, CapMan Plc, tel. +358 50 040 5732

Distribution:
Nasdaq Helsinki Ltd
Principal media
www.capman.com

Appendix: CapMan Plc 1-9 2024 Interim Report

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.0 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

CapMan Plc press release
31 October 2024 at 10.00 a.m. EET

CapMan to publish its 1 - 9 2024 Interim Report on Thursday 7 November 2024

CapMan will publish its interim report for the period 1 January-30 September 2024 on Thursday 7 November 2024 around 8.00 a.m. EET.

The company will present the results for the review period over a webcast press conference starting at 9.30 a.m. EET accessible at https://capman.videosync.fi/q3-2024. The result presentation is followed by a Q&A. The conference will be held in English. The report and presentation material will be available at CapMan's website after the publication (https://capman.com/shareholders/result-reports/).

Contact details:
Tuija Ottoila, Investor Relations, +358 50 458 4549

Webcast:
7 November 2024 at 9.30 a.m. EET
https://capman.videosync.fi/q3-2024

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.8 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

CapMan Plc Stock Exchange Release / Inside information

4 October 2024 at 01:35 a.m. EEST

Inside information: CapMan Plc and minority shareholders divest service business CaPS for EUR 75 million

CapMan Plc has today signed an agreement with Proxer Bidco Oy, to sell its ownership of service business CapMan Procurement Services (CaPS) Ltd ("CaPS"). CapMan Plc currently holds 92.7% of the shares in CaPS. The transaction is expected to close on 31 October 2024 with no conditions precedent to closing.

The transaction is in line with CapMan's strategy and will allow allocating more resources to accelerate the growth of the core business of private asset fund management. In addition, the transaction will have a significant positive impact on CapMan's 2024 earnings, liquidity and solidity.

• Debt free cash purchase price of total EUR 75 million, including an earn-out consideration of EUR 5 million, subject to CaPS reaching certain operating targets during 2025
• Positive EPS impact of approximately 33 cents in 2024
• Strong immediate cash flow impact of approximately EUR 60 million, that significantly strengthens CapMan's balance sheet
• The proceeds of the transaction will be used to grow the private asset fund management business, decrease interest bearing debt, and enable strong dividend distribution during the coming years
• CapMan's Board of Directors currently expects to propose a total dividend of EUR 0.14 per share to the Annual General Meeting in 2025

CaPS is a unique service concept focused on driving down the indirect spend of their member companies in Finland, Sweden and the Baltics. It was established 15 years ago as a service to CapMan's own portfolio companies, but over the years it has actively been developed into a fast-growing stand-alone platform with more than 280 members and 290 vendors. The turnover of CaPS was EUR 10.2 million and operating profit EUR 5.9 million in 2023. In connection with the transaction CaPS' key employees will reinvest a significant proportion of the proceeds back into the business and continue to drive CaPS growth going forward.

"CaPS has developed strongly as part of CapMan, and I am proud of the consistent work we have done with the CaPS team over these 15 years. Now it is time to move into the next phase of our growth journey. With this new ownership structure, we will become an even more valuable partner to our members and vendors and accelerate international growth of our unique offering," says Maximilian Marschan, Managing Partner of CaPS.

"I want to thank Maximilian for his excellent work in building CaPS into the unique platform it is today and wish him and the team all the best going forward. Already for some time CaPS has been operating largely as a standalone business with limited operational links to the rest of the group. As CapMan's strategy is to grow the private asset fund management business, now is a natural time to divest CaPS and focus all our resources on developing the core," says Pia Kåll, CEO of CapMan.

Over the coming years CapMan seeks to significantly grow earnings from its private asset fund management business by a combination of continued growth and improved relative profitability, as the operations scale. As demonstrated during the past year, this is achieved by increasing the size of flagship funds, introducing new products to the market, and through selective acquisitions. With the resources released through this transaction growth can be further accelerated.

Due to the transaction, CapMan clarifies that its guidance on fee profit growth in 2024 is related to continuing operations. CapMan will host a Capital Markets Day on 11 March 2025 to give further details on its future strategic focus areas and growth initiatives.

CAPMAN PLC

Board of Directors

Contact details:

Tuija Ottoila, Investor Relations, +358 50 458 4549

DISTRIBUTION
Nasdaq Helsinki
Principal media
www.capman.com

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.8 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.

CapMan Plc Stock Exchange Release / Other information disclosed according to the rules of the Exchange

18 September 2024 at 9:30 a.m. EEST

CapMan's Board of Directors has decided on the additional dividend of EUR 0.04 per share authorised by the Annual General Meeting

The proposal of the Board of Directors to the Annual General Meeting of CapMan Plc held on 27 March 2024 was a combined proposal of a dividend distribution and an authorisation for the Board of Directors to decide on distribution of an additional dividend. The Board of Directors expected the overall dividend distribution to be EUR 0.10 per share for the financial period ended 31 December 2023.

The Annual General Meeting decided, in accordance with the proposal of the Board of Directors, that a dividend in the total amount of EUR 0.06 per share would be paid based on the balance sheet adopted for 2023. The payment date was 9 April 2024.

In addition, the Annual General Meeting authorised the Board of Directors to decide on an additional dividend in the maximum amount of EUR 0.04 per share.

The Board of Directors of CapMan has on 18 September 2024 decided on the additional dividend of EUR 0.04 per share in accordance with the authorisation of the Annual General Meeting. The dividend payment date for the additional dividend shall be 27 September 2024, the ex-dividend date 19 September 2024 and the record date 20 September 2024.

CAPMAN PLC

Board of Directors

Additional information:

Tuija Ottoila, Investor Relations, +358 50 458 4549

DISTRIBUTION
Nasdaq Helsinki
Principal media
www.capman.com

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.8 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.

CapMan Plc Stock Exchange Release / Other information disclosed according to the rules of the Exchange
5 September 2024 at 14:00 p.m. EEST

Composition of CapMan's Shareholders' Nomination Board

• Stefan Björkman, representing Silvertärnan Ab,
• Olli Haltia, representing Hozainum Partners Oy,
• Mikko Mursula, representing Ilmarinen Mutual Pension Insurance Company, and
• Peter Immonen, representing Dolobratos Oy Ab.

The Nomination Board comprises four members that are appointed by the four shareholders having the largest share of the votes conferred by all Company shares on the last day of August. Each shareholder is entitled to appoint one member. If a shareholder does not wish to use the nomination right, the right shall be transferred to the next largest shareholder who would otherwise not be entitled to nominate a member. The Chair of CapMan's Board of Directors also serves as an expert member of the Nomination Board. The Chair does not participate in the decision-making of the Nomination Board.

The Shareholders' Nomination Board prepares the proposals concerning the election and remuneration of the Board of Directors and the remuneration of the members of the Committees of the Board of Directors for the General Meeting. The Nomination Board shall submit the proposals to the Board of Directors no later than on 31 January 2025.

CAPMAN PLC

Tuija Ottoila, Investor Relations, +358 50 458 4549

DISTRIBUTION
Nasdaq Helsinki
Principal media
www.capman.com

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.8 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.

CapMan Plc
Stock Exchange Release / Half-Year Financial Report
8 August 2024 at 8:00 a.m. EEST

CapMan Plc 1-6 2024 Half-Year Report

• Assets under management EUR 5.8 billion 30 June 2024 (EUR 5.0 billion 31 December 2023).
• Group turnover was MEUR 36.7 1 January-30 June 2024 (MEUR 31.6 1 January-30 June 2023).
• Fee income was MEUR 32.9 (MEUR 28.8). 
• Carried interest was MEUR 3.8 (MEUR 2.8).
• Operating profit was MEUR 12.7 (MEUR 4.7). Comparable operating profit was MEUR 14.4 (MEUR 4.7).
• Fee profit was MEUR 7.0 (MEUR 4.7).
• Diluted earnings per share were 3.0 cents (2.3 cents). Comparable diluted earnings per share were 3.9 cents (2.3 cents).
• In March, CapMan Plc completed the acquisition of Dasos Capital Oy.
• In June CapMan announced final tender offer results for its outstanding bond due 2025 and issued a new MEUR 60 sustainability-linked bond.

This stock exchange release is a summary of CapMan Plc's Half-Year Report for the period 1 January-30 June 2024. The complete report is available in pdf-format as an attachment to this release and on the company's website at https://capman.com/shareholders/result-reports/.

CEO's comment:

After strong growth in the first half of 2024 all key metrics are at record high levels at the end of June. Assets under management are up 16% at EUR 5.8 billion, fee income grew +14% and fee profit grew with +50% to EUR 7.0 million.

Strong growth in management company and service business

Assets under management reached a record EUR 5.8 billion primarily through the acquisition of Dasos Capital and successful final closings of two funds; Nordic Infrastructure II, at EUR 375 million or double the size of the first fund, and Growth III at the fund's hard cap of EUR 130 million. AUM growth is the primary driver for fee income, which correspondingly grew 14% compared to the previous year.

Going forward our outlook remains strong with several funds currently in fundraising, which will contribute to future AUM growth and earnings development. Dasos Sustainable Forest and Wood III continues active fundraising and positive development, the Social Real Estate fund established at the end of last year continues fundraising towards its target of EUR 500 million over the coming years, and in the real estate flagship fund Nordic Real Estate IV we target a first close during 2024 and a target size of EUR 750 million at the final close of the fund.

As a result of growing fee income and improved relative profitability CapMan's fee profit, our most stable and predictable profit component, grew to record levels of EUR 7.0 million, up +50% compared to previous year.

Positive development across investment areas contributing to both future carry potential and positive Investment business development

We continued to deliver good returns to our fund investors by systematically executing the investment strategies also in a more challenging market environment. For the first half year the Infrastructure, Private Equity and Credit funds showed on aggregate strong positive return development, thus improving our future carry outlook, while development of Real Estate funds has been more flat in line with the still recovering market. Our investment activity across strategies has stayed high. During the first half of the year, we have completed in total seven new platform investments and six exits, which can be compared to the full year median for the past ten years of 13 platform investments and seven exits.

The positive development in our funds also contributed to positive fair value change in the Investment business, i.e., in the investments made from CapMan's own balance sheet. Fair value of the investments into our own funds is up +5.1% during the first half of the year. In total the balance sheet investments' fair value change was +2.2%, as the external fund investments had a negative development during the period. CapMan funds are the main focus of our balance sheet investments, and we are not at the moment considering new external fund investments.

Through our investment activity we are building the society we want to see in the future

Through the investments we do from our funds and the value creation carried out in each asset during our ownership we contribute to building the society we want to see in 2040 and beyond. In April we published our Investments Sustainability Report for 2023, where you can read more about CapMan's integrated approach for sustainability and financial value creation done in our holdings across Real Estate, Infrastructure, Private Equity and Credit.

Sincerely,

Pia Kåll

CEO, CapMan Plc

Key figures

MEUR 1-6/24 1-6/23

Operating profit 12.7 4.7
Items impacting comparability 1.6 -
Comparable operating profit 14.4 4.7

Result for the period 8.9 4.8
Items impacting comparability 1.5 -
Comparable result for the period 10.4 4.8

Earnings per share, cents 3.0 2.3
Items impacting comparability, cents 0.9 -
Comparable earnings per share, cents 3.9 2.3

Earnings per share, diluted, cents 3.0 2.3
Items impacting comparability, cents 0.9 -
Comparable earnings per share, diluted, cents 3.9 2.3

% 30.6.24 30.6.23

Return on equity, % p.a. 13.6 7.4
Comparable return on equity, % p.a. 15.9 7.4
Equity ratio, % 50.7 45.7

Long-term financial objectives

CapMan's distribution policy is to pay sustainable distributions that grow over time. CapMan's objective is to distribute at least 70% of the Group's profit attributable to equity holders of the company excluding the impact of fair value changes, subject to the distributable funds of the parent company. In addition, CapMan may pay out distributions accrued from investment operations, taking into consideration foreseen cash requirements for future investments.

The combined growth objective for the Management Company and Service businesses is more than 15% p.a. on average. The objective for return on equity is more than 20% p.a. on average. CapMan's equity ratio target is more than 50%.

CapMan expects to achieve these financial objectives gradually and key figures are expected to show fluctuations on an annual basis considering the nature of the business.

Outlook estimate for 2024

CapMan's objective is to improve results in the long term, taking into consideration annual fluctuations related to the nature of the business. Carried interest income from funds managed by CapMan and the return on CapMan's investments have a substantial impact on CapMan's overall result. In addition to asset-specific development and exits from assets, various factors outside of the portfolio's and CapMan's control influence fair value development of CapMan's overall investments, as well as the magnitude and timing of carried interest. For these reasons, CapMan does not provide numeric estimates for 2024.

CapMan estimates assets under management to grow in 2024. The company estimates fee profit also to grow in 2024. These estimations do not include possible items affecting comparability.

Result webcast today at 9.30 a.m. EEST

CapMan's management will present the result for the review period in a webcast to be held at 9.30 a.m. EEST. Please access the webcast at https://capman.videosync.fi/q2-2024. The conference will be held in English. A replay of the webcast will be available on the company's website after the event.

Helsinki, 8 August 2024

CAPMAN PLC
Board of Directors

Contact details:
Atte Rissanen, CFO, CapMan Plc, tel. +358 50 040 5732

Distribution:
Nasdaq Helsinki Ltd
Principal media
www.capman.com

Appendix: CapMan Plc 1-6 2024 Half-Year Report

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.8 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

CapMan Plc press release                              
1 August 2024 at 10:00 a.m. EEST

CapMan to publish its 1 - 6 2024 Half-Year Report on Thursday 8 August 2024

CapMan will publish its interim report for the period 1 January-30 June 2024 on Thursday 8 August 2024 around 8.00 a.m. EEST. The company will present the results for the review period over a webcast press conference starting at 9.30 a.m. EEST accessible at https://capman.videosync.fi/q2-2024. The conference will be held in English. The report and presentation material will be available at CapMan's website after the publication (https://capman.com/shareholders/result-reports/).

For further information, please contact:
Charlotte Wessman, Director, Communications, + 46 734 29 08 32

Webcast:
8 August 2024 at 9.30 a.m. EEST
https://capman.videosync.fi/q2-2024

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.7 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

CapMan Plc
Stock Exchange Release
11 June 2024 at 14:00 EEST

Listing prospectus for CapMan's EUR 60 million sustainability-linked notes available; listing application submitted

CapMan plc (the "Company") announced on 3 June 2024 its decision to issue new unsecured sustainability-linked notes in the aggregate principal amount of EUR 60 million (the "Notes"). The Notes were issued on 10 June 2024.

The Finnish Financial Supervisory Authority has today approved the listing prospectus of the Notes (the "Prospectus"). The Prospectus is available in English on the Company's website at https://capman.com/shareholders/share-shareholders/debt-information/.

The Company has today submitted an application for the Notes to be admitted to trading on the list of sustainable bonds of Nasdaq Helsinki Ltd. Trading on the Notes is expected to commence on or about 13 June 2024 under the trading code "CAPMJ650029".

The proceeds of the Notes, less costs and expenses incurred by the Company in connection with the issue of the Notes, are used to fund the purchase of existing notes of the Company due 2025 pursuant to the tender offer announced on 24 May 2024 and other general corporate purposes of the group.

OP Corporate Bank plc acted as the sole lead manager for the issue of the Notes (the "Lead Manager").

CAPMAN PLC

For further information, please contact:

Stina Lähteenoja

Communications Manager

+358 45 840 8438

Distribution:

Nasdaq Helsinki

Principal media

www.capman.com

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.7 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001.

Disclaimer

This release is for information purposes only and is not to be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities of the Company. No actions have been taken to register or qualify the Notes, or otherwise to permit a public offering of the Notes, in any jurisdiction. The distribution of this release and the related material concerning the issuance of the Notes may, in certain jurisdictions, be restricted by law. Persons into whose possession this release or any such material may come are required to inform themselves of and observe all such restrictions. This release and any such material may not be distributed or published in any country or jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction or would require actions under the laws of a state or jurisdiction other than Finland. In particular, this release and any such material may not be distributed in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore or South Africa and any related material concerning the issuance of the Notes may not be sent to any person in the before mentioned jurisdictions. Neither the Company nor the Lead Manager, or their representatives accept any legal responsibility for any violation by any person, whether or not the persons contemplating investing in or divesting the Company's securities, including the Notes, are aware of such restrictions.

The Notes have not been and will not be registered under the U.S. Securities Act of 1933 (as amended, the "U.S. Securities Act"), or under the securities laws of any state or other jurisdiction of the United States. The Notes may not be offered, sold, pledged or otherwise transferred directly or indirectly within the United States or to, or for the account or benefit of, U.S. Persons (as such terms are defined in Regulation S under the U.S. Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

The information provided in this release and any related materials relating to any securities referred to herein is addressed to and directed only at persons in the United Kingdom in circumstances where provisions of section 21(1) of the Financial Services and Markets Act 2000, as amended, do not apply and are solely directed at persons in the United Kingdom who (a) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (b) are within Article 43(2) of the Order, or other persons to whom they may be lawfully communicated (all such persons together being referred to as "relevant persons"). This release is directed only at relevant persons and any person who is not a relevant person must not act or rely on this release or any of its contents.

CapMan Plc
Stock Exchange Release
3 June 2024 at 18:00 EEST

CapMan Plc (the "Company") announces today the final results of the invitation to all holders of its outstanding EUR 50 million 4.000 per cent notes due 9 December 2025 (ISIN: FI4000456132) (the "Notes") to tender their Notes for cash on the terms and conditions set out in the tender offer memorandum dated 24 May 2024 (the "Tender Offer Memorandum") (the "Tender Offer").

Results of the Tender Offer

The expiration deadline for the Tender Offer was 4:00 p.m. Finnish time (EEST) on 31 May 2024. The aggregate principal amount of the Notes validly tendered by the holders for purchase pursuant to the Tender Offer was EUR 46,049,000.

The Company confirms that the condition relating to the pricing of new euro-denominated notes (the "New Notes") has been fulfilled and, subject to the issuance agreement remaining in full force and effect on the Settlement Date (as defined below), the Company will accept for purchase all such tenders of the Notes pursuant to the terms of the Tender Offer Memorandum.

The settlement date for the Tender Offer and the issue of the New Notes is 10 June 2024 (the "Settlement Date").

The purchase price of the Notes is EUR 1,005 per EUR 1,000 in nominal amount of the Notes. Accrued and unpaid interest will be paid in respect of all Notes accepted for purchase. All the Notes purchased by the Company will be cancelled. The Notes not purchased pursuant to the Tender Offer will remain outstanding.

Additional information may be obtained from the Dealer Manager.

Dealer Manager:

OP Corporate Bank plc

Telephone: +358 50 599 1281

Attention: Thomas Ulfstedt

Email: liabilitymanagement@op.fi

CAPMAN PLC

For further information, please contact:

Stina Lähteenoja

Communications Manager

+358 45 840 8438

Distribution:

Nasdaq Helsinki

Principal media

www.capman.com

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.7 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001.

Disclaimer

This release is for information purposes only and is not to be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities of the Company. The distribution of this release and the related material concerning the Tender Offer may, in certain jurisdictions, be restricted by law. Persons resident outside of Finland may receive this release and the related material concerning the Tender Offer only in compliance with applicable exemptions or restrictions. Persons into whose possession this release or any such material or documentation may come are required to inform themselves of and observe all such restrictions. This release and any such material or documentation may not be distributed or published in any country or jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction or would require actions under the laws of a state or jurisdiction. In particular, this release and any such material or documentation may not be distributed in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore or South Africa. None of the Company or the Dealer Manager or any of their representatives accept any legal responsibility for any violation by any person, whether or not the persons contemplating investing in or divesting the Company's securities, are aware of these restrictions or not. Please refer to the Tender Offer Memorandum for a full description of such restrictions.

Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), the securities laws of any state of the United States or other jurisdiction. Any securities referred to herein may not be offered, sold, pledged or otherwise transferred directly or indirectly within the United States or to, or for the account or benefit of, U.S. Persons (as such terms is defined in Regulation S under the U.S. Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act.

The information provided in this release and any related materials relating to any securities referred to herein is addressed to and directed only at persons in the United Kingdom in circumstances where provisions of section 21(1) of the Financial Services and Markets Act 2000, as amended, do not apply and are solely directed at persons in the United Kingdom who (a) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (b) are within Article 43(2) of the Order, or other persons to whom they may be lawfully communicated (all such persons together being referred to as "relevant persons"). This release is directed only at relevant persons and any person who is not a relevant person must not act or rely on this release or any of its contents.