The Placement consisted of subscriptions to acquire new ordinary shares of IFEX as well as purchases of convertible unsecured promissory notes of the Company. Participants in the Placement include various institutional and individual investors, including Groupe Financiere Centuria SAS, a Paris-based asset management firm ("Centuria") which is 34% owned by the Dexia Group, one of the twenty largest financial institutions in the Euro zone. Centuria have subscribed for EUR2 million of the Placement and also have the option to invest an additional EUR18 million in new IFEX shares by 31 January 2007.
Commenting on the Placement, Anthony Moore, Chairman of the Company's Supervisory Board, stated: "Today marks the beginning of a new chapter in our history, as IFEX moves to be incorporated within, and assume all the strength and diversity of, the MCC team and its client projects worldwide. Shareholders of IFEX now stand to benefit from ownership in a truly global private equity merchant bank that touches multiple markets and industries"
Sharon Clayton, Chairman of the Management Board added: "We are particularly pleased with the important investment from Financiere Centuria. Working with them and the Dexia Group will accelerate the growth of our very promising activities in the Gulf States. We will also be exploring opportunities in the renewable energy sector, including in China, as well as US real estate. The combination of MCC's industry expertise and proven track record in building companies and Centuria Group's network and access to capital is precisely the type of strategic partner/investor relationship that we seek on a global basis."
Issuer's information/ explanatory remarks concerning this ad hoc announcement: MCC provides strategic and financial advisory and investment services to clients in a variety of industries, and is also the investment advisor to Equus Total Return, Inc., a New York Stock Exchange-listed closed-end fund. MCC has offices in various financial centres around the world. Additional information concerning MCC can be found at http://www.mccglobal.com.
IFEX NV is a pan-European corporate finance organisation that facilitates funding solutions for small and medium sized enterprises. Additional information about IFEX NV is available at the company's investor relations website: http://www.ifexgroup.com.
