CapMan - Company Announcement

CapMan sells Tokmanni to Nordic Capital, impact on CapMan Group's result for 2012 approximately EUR 1.2 million

CapMan Plc Stock Exchange Release - 24 May 2012 at 08:45 a.m. EET



CapMan sells Tokmanni to Nordic Capital, impact on CapMan Group's result for
2012 approximately EUR 1.2 million

Funds managed by CapMan and the other owners of Tokmanni Group have signed an
agreement to sell 100% of Tokmanni's shares to Nordic Capital Fund VII ("Nordic
Capital"). CapMan funds' ownership in Tokmanni is approx. 52%. When closed, the
transaction will transfer the CapMan Equity VII B fund into carry. The impact of
the transaction on CapMan Group's financial results for 2012 is approximately
€1.2 million consisting of carried interest income from the CapMan Equity VII B
and Finnmezzanine III B funds as well as return on CapMan's own fund
investments. The impact on CapMan Group's cash flow is approximately €4.4
million. The closing of the transaction is subject to approvals by competition
authorities and is expected to be finalised during the third quarter 2012.
Tokmanni has been a good investment for investors in funds managed by CapMan.

Funds managed by CapMan made their initial investment in the discount store
chain Tokmanni in autumn 2004, when Tokmanni and the Vapaa Valinta chain merged
into one group. Tokmanni has grown substantially under CapMan's management both
organically and through acquisitions. Today, the company is Finland's by far
largest discount store chain with 144 stores across the country. The turnover of
Tokmanni Group has increased from €150 million in 2004 to approximately €650
million in 2011 and the company has more than 2,900 employees.

Tuomo Raasio, Chairman of the Board at Tokmanni Group and Senior Partner at
CapMan, says: "We are excited that we have been granted the opportunity to
participate in the development of Tokmanni into a leading Finnish discount store
chain. The strong vision and entrepreneurial spirit of Kyösti Kakkonen, the
founder of Tokmanni, and Seppo Saastamoinen, the founder of Maxi-Makasiini, were
central to the company's growth story. These pioneers of the discount store
industry in Finland also impressed CapMan when we invested in the company.
CapMan and Tokmanni's management team have together enhanced the core business
by successfully developing several local businesses into a national chain. We
have created value by accelerating growth and improving the efficiency of
operations. As we have reached these goals, the time is now ripe for a new owner
to take the reins.""Tokmanni's success is a testament to our commitment to doing the right thing
for our business. We have completed significant strategic development projects
under CapMan's ownership, of which one of the most relevant is the establishment
of a new logistics centre. We have also expanded our retail network, and today
have some 50 million visitors in Tokmanni chain stores annually. In Nordic
Capital we will gain a strong owner, who will support us in the ongoing
development of our company," says Heikki Väänänen, CEO of Tokmanni Group.


For further information, please contact:
Tuomo Raasio, Senior Partner, CapMan Buyout, tel. +358 20 7207 505 or
+358 40 0405 682
Niko Haavisto, CFO, CapMan Oyj, tel. +358 20 7207 583
Heikki Väänänen, CEO, Tokmanni Group, tel. +358 20 7286 044 or +358 50 0401 362


CAPMAN PLC

Laura Mustonen
Manager, Communications and IR

DISTRIBUTION
NASDAQ OMX Helsinki
Principal media
www.capman.com



CapMan www.capman.com
CapMan is one of the leading private equity firms in the Nordic countries and
Russia, with assets under management of €3.0 billion. CapMan has four key
investment partnerships - CapMan Buyout, CapMan Russia, CapMan Public Market,
and CapMan Real Estate - each of which has its own dedicated investment team and
funds. Altogether, CapMan employs approx. 120 people in Helsinki, Stockholm,
Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed
on the Helsinki Stock Exchange since 2001.

Tokmanni www.tokmanni-konserni.fi/english
The Tokmanni Group is the largest discount retailer in Finland. The group owns
144 stores operating under seven brands: Tokmanni, Tarjoustalo, Vapaa Valinta,
Robinhood, Maxi-Makasiini, Maxi-Kodintukku and Säästöpörssi. The retail network
covers the entire Finland; the northernmost outlet is in Kuusamo, while the
southernmost outlet is in Hanko. In 2011, group turnover was EUR 653.9 million.
The company currently has more than 2,900 employees.


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