Repurchase by the founders and senior management of all convertible bonds

04/07/07

 

Audika Group’s founders and senior management, Alain and Jean-Claude Tonnard, are announcing that they have signed a new agreement with Fonds Partenaires Gestion (FPG). Upon completion of this agreement, the founders and senior management acquired all the convertible bonds held by FPG within the holding company, Holton, which holds a 53.94% majority stake in Audika.

 

All shares and securities giving access to Holton’s capital are held now by Alain Tonnard, Jean-Claude Tonnard and their associate Philippe Langzam. Audika’s capital remains unchanged.

 

This transaction forms part of the ambition of Audika’s founders and senior management to continue the Group’s long-term development by drawing on the teams in place and perpetuating its family management spirit.

 

Alain and Jean-Claude Tonnard commented that, “The partnership forged in 2004 with FPG has enabled us to smoothly continue the development of our network which has increased from 270 centers at the beginning of 2004 to over 340 today. We also benefited from this period to structure the Group at a managerial level so that the acceleration of our growth will go hand-in-hand with an improvement in our financial ratios.

 

The future is looking very bright. In a market that will soon benefit from increased growth as the baby boom generation reaches the age of 60, we are convinced that, now more than ever, Audika has the assets and tools available to significantly speed up its development both in France and overseas with the opening of a first center in Italy this year.”

 

In order to assist the Group in this new growth phase, the founders and senior management intend to introduce a new financial partner into the holding company Holton’s capital through the purchase of a minority stake in the company. This partner will be chosen according to its expertise and ability to actively participate in the Group’s international development.

 

Audika Group will publish its revenues for the first half of 2007 on July 23, 2007 after the close of the markets.

 

 

About Audika:

 

With over 340 centers in 80 different regions and a market share of 13%, Audika is the number one network offering hearing correction consulting and solutions in France. Positioned on the market for hearing correction solutions for senior citizens, which is not affected by changes in the economic environment, Audika aims to consolidate its leadership in a sector that remains very highly fragmented. Audika is listed on the Eurolist SMALL 90, segment B.

 

IISIN FR0000063752-ADI

Reuters DIKA.PA,

Bloomberg ADI

Number of shares: 9,450,000

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Audika contact: Alain Tonnard / Etienne Sirand-Pugnet on +33 1 55 37 30 30

Kaparca Finance contact: Guillaume Le Floch on +33 1 72 74 82 25