All Bell ceremonies

Eric Forest: “The stock market is neither too complex nor too demanding for SMEs”

In May 2013, NYSE Euronext announced the launch of EnterNext, the new pan-European marketplace dedicated to SMEs.
CEO Eric Forest takes a look at the specific needs of this category of companies and at EnterNext’s goals.

What is the role of EnterNext?
EnterNext was created with the purpose of helping small and medium-sized companies (SMEs) find alternative sources of financing. Our role is to assist companies listed on compartments B and C of Euronext or on Alternext – companies with a market valuation of less than one billion euros – to make better use of the market, as well as to help unlisted companies prepare for possible entry on the stock exchange. It is also crucial to promote these companies among investors, and more generally to activate the entire ecosystem in seeking solutions to the challenges of financing their growth.

What are the specific needs of SMEs with regard to the stock exchange?
SMEs today need alternatives to bank loan financing. Loans have become harder to obtain with the recession and new bank equity regulations which allows the stock market to reassert its role. The market environment is also more favourable today. The launch of the SME stock savings account (the French Plan d’épargne en actions dedicated to SMEs), for example, will “fuel” our market by drawing more savings to investment in small and medium-sized companies, enabling these to strengthen their equity.

What are your goals?
We target the listing of 80 new companies per year in the four Euronext markets (Paris, Brussels, Amsterdam and Lisbon) by 2016. In 2013 there were 26 new entries in the market. This reflects an upward trend from the 16 new listings in 2012. It is important to point out the acceleration of this trend, with half of these operations completed in the final quarter of the year. Our second goal is to significantly increase the volume of funds raised in equity and bonds for the companies that form our target group. And most broadly, we aim to position the stock market as a source of financing for SMEs.

What obstacles do you anticipate?
We must fight preconceptions and recall to mind a few truths by explaining things clearly and educating company executives. No, turning to the stock exchange is neither too complex nor too demanding. You have to learn to use it. No, smaller securities are not at a disadvantage in terms of performance, on the contrary! While the French CAC 40 index has risen 24% in ten years, the CAC Mid & Small index has registered growth of 130%. And no, issues of liquidity of smaller stocks should not be seen as inevitable. Liquidity must be understood as the ability for an investor to enter or exit the market at the desired moment. Company executives therefore have a role to play: the company must interest and be interested in the market over the long term, which is achieved through active marketing of its security.

Mentalities are changing, and one very encouraging point of note is the return of institutional and individual investors to small and medium-sized stocks. This is apparent in the success of the latest operations on our markets, which generated a level of demand such as we have not seen for several years.
 

Euronext’s key role in financing European companies

For Euronext, 2013 will be remembered as the year our markets returned to business as usual. Although the economic environment remains challenging in many European countries, Euronext’s markets played a major role in financing companies of all sizes in every sector. Companies raised €92 billion in 2013 on our markets, compared with €83 billion the previous year, including €29.4 billion in equity and quasi-equity and €62.3 billion in bonds. The largest operations included Numéricable’s that raised €750 million with its IPO in Paris, as well two other French operations: Alcatel Lucent’s €1 billion capital increase and EDF’s €1.4 billion bond issue. In Belgium, bpost raised €812 million with its IPO and in PortugaVEl, postal operator CTT raised nearly €580 million early December when it entered the market in Lisbon. In Amsterdam, we had the interesting OCI technical listing (listing and exchange offer of € 6.2 billion Market Cap).

Nearly forty new entries on the market were completed last year, including more than 20 IPOs which raised in excess of €3 billion, a level of financing that had not been achieved since 2007.

“These figures and operations testify the central role played by Euronext in the financing of the European economy. We work constantly to increase transparency, efficiency and security while monitoring our markets in order to attract investors to the exchange and support business growth,” said Marc Lefèvre, Director, Head of European Business Development & Client Coverage, Euronext. “It can be said that a positive sentiment and momentum is back on our Markets.”

There are several reasons for this successful development. Firstly, investors and individuals in the market have been reassured by rising indices following several years of recession. The CAC 40 rose 17.99% in 2013, the AEX 17.24%, the BEL 20 by 18.10% and the PSI 20 by 15.98%. At the same time, volatility has dropped to low levels, which is necessary for a dynamic market of new introductions on the exchange. The VSTOXX volatility index which had risen to almost 60% in 2009 dropped to 17% at the end of 2013, the same level as before the recession in 2007.

Among the reasons for the exchange’s return to centre stage is a dual redistribution between stocks and bonds in favour of the former on the one hand, and geographically between the United States and Europe with the latter in particular thriving. The valuations achieved also enable investment funds to sell some of their holdings via listings on the market.

After a very encouraging 2013, Euronext is expecting a confirmation of these trends in 2014.

New Listings

New listings during S2 2013 on Euronext

The CEOs comment their operations:

Hervé Montjotin CEO of Norbert Dentressangle: “We believe our listing on Euronext London will raise the profile of Norbert Dentressangle amongst the UK investment community who have a wealth of experience in the transport, logistics and supply chain sector.”

Pascal Gendrot, Co-founder and CEO of Orège: “Listing represents a major step ahead in our company's business development, and is clearly a springboard for structuring new strategic partnerships.”

Christian Homsy, CEO of Cardio3 BioSciences: “It is with great pride that we announce our listing in Brussels and in Paris. We are the first biotechnology company to list on both exchanges and welcome our new investors both institutional and private individuals.”

João Dantas, Executive Officer and Investor Relations Officer of BTG Pactual: “This transfer is a testimony to our continued cooperation with Euronext in Europe.”

Vincent Bolloré, Chairman of Blue Solutions: “After twenty years of hard work and R&D, our teams at Blue Solutions, with their unique expertise and know-how, are immensely proud to see their work listed on Euronext in Paris.”

Eric Denoyer, Chairman and CEO of Numericable Group: “Thanks to listing on Euronext and this capital increase we will be accelerating our investments over the next three years to strengthen our existing lead.”

Michel Giannuzzi, Head of Tarkett’s Management Board: “Today, Tarkett benefits from all of the strengths necessary to pursue its profitable, sustainable growth dynamic: a healthy, solid financial structure, a balanced geographical presence and a broad portfolio of solutions in the flooring and sports surface markets.”

Ludovic Lastennet, CEO of Implanet: “I am very happy with Implanet’s successful listing on Euronext where the number of health stocks has grown steadily and expanded its reach with international investors.”

Jacques Moulaert, Vice-president and Executive Director of Viohalco: “We strongly believe that Viohalco’s listing in Brussels today will boost its visibility and enhance its access to international capital markets.”

Bertin Nahum, Chairman & CEO and founder of Medtech: “I would like to thank all of the institutional and individual shareholders that have joined us, as well as all of our staff and partners, for their contributions to the success of our IPO.”

Koos Hendriks, CEO of SnowWorld: “The listing on Euronext Amsterdam is the basis of our ambition to realize the roll out of the SnowWorld concept in Europe.”

António Tomás Correia, Chairman of Montepio: “It is the first time that Montepio has equity capital listed on a stock exchange. It is a matter of great satisfaction for us and it establishes and strengthens our confidence in the future, taking into account the high number of subscribers - more than 25,000 - which shows the power of the brand”.

New listings during S2 2013 on Alternext

The CEOs comment their operation:

Hervé de Kergrohen, CEO of Medical Device Works: “Our technology - a unique approach designed to treat liver cancer more effectively by repeated isolation of the organ - has been developed with the support of our traditional shareholders and clinical partners. It will now benefit from the visibility offered by stock-exchange listing."

Alexandre Guichard, Chairman of RocTool: “Our transfer to Alternext and related capital increase have boosted RocTool’s credibility and will enable us to pursue a growth strategy focusing on international markets.”

Robert Lafont, Chairman and CEO of Entreprendre-Lafont Presse: “Our transfer to Alternext opens a new stage in our experience on the stock market. In today’s economy, it not only boosts our credibility, it also gives us the clout and support we need to face the new challenges in our sector.”

Jean-Claude Lumaret, Carbios CEO and founder: “Our successful listing gives us the resources we need to become a leading player in the world’s plastics and recycling markets.”

Jean-Claude Maillard, Chairman and CEO of Figeac Aéro: “The increased financial resources that result from this listing will allow us to step up the pace of growth and above all to deploy our strategy aimed at becoming a world leader in subcontracted services to the aerospace industry.”

The Euronext bond offer: tailor-made financing solutions for all companies

European companies raised €62.3 billion in bonds (including convertible bonds) on Euronext’s European markets in 2013. This success is evidence of investor appetite for corporate credit in an environment of historically low interest rates. It is also based on Euronext’s many innovative offers to support the transformation of traditional financing circuits, with Euronext’s bond offer segmented today to satisfy the needs of companies of all sizes, from the largest to the smallest.

“There are many advantages to a bond offer. Companies can diversify their financing sources and reduce their dependency on bank financing. No dilution for the shareholder, historically low rates, long maturity, no or few covenants... issuers have much to gain from turning to the bond market. At the same time, these offers also enable investors to benefit from all the advantages of a regulated or self regulated market: liquidity, transparency, security, efficiency and credibility”, says Marc Lefèvre, Director, Head of Business Development & Client Coverage Europe, Euronext.

Large companies thus have access to a broad range of solutions based on their desired criteria (investor, format, maturity, currency, etc.):

• Eurobonds. These enable the issuer to turn to European institutional investors via syndicated investment in the bond market. Companies must first obtain a credit rating. Euronext’s straightforward, long-term and transparent infrastructure has supported the strong growth of this product in recent years.
• Euro PP. Launched in 2012, euro private placement bonds (Euro PP) allow mid-cap companies to to issue bonds with qualified institutional investors, in particular insurers. Private placement benefits from a specific legal framework and a format tailored to the companies concerned. This long awaited investor tool is also an efficient response to banking disintermediation.
• Retail bond offer. This allows a company to access the institutional and individual investor markets to expand its financing possibilities and increase its visibility with a loyal target group. Ratings are not required for large companies.

SMEs have access to Euro PPs and retail investors (Initial Bond Offering – IBO); this latter offer, launched in 2012, allows listed and non listed companies to turn to institutional and individual investors via a public offer on the regulated (Euronext) or self regulated (Alternext) market using a centralization process similar to that involved in an IPO. Ratings are required for listed SMEs with market capitalization of less than €100 million, and for non-listed companies¹.

“Demand from institutional and individual investors is strong for these quality bond products that offer attractive returns and meet today’s prudential standards. Euronext’s expansive bond offer is part of our major effort to redirect investor savings towards productive investment,” says François Houssin, Head of Client Coverage France for Euronext.

¹ For non-listed companies which follow the criteria of the European SME definition.

Lisbon Newsbites

IPOs are back in force in Lisbon

IPO activity was intense in Lisbon in 2013.  Nexponor “opened the market” in June with an Alternext listing by raising €65 million in new equity. However, it was December that tipped the scales with two IPOs and one technical listing:

• 5 December: CTT Correios de Portugal listed on Euronext after the government sold a 70% stake: 14% to retail and 56% to institutional investors. Over 25,000 investors bought CTT shares in what was the largest IPO in Portugal since 2008.

  

• 12 December: German-based HQ Life listed on Easynext Equities. This private equity company was the first to list on this market since 1999. 
  
• 17 December: Caixa Económica Montepio Geral raised €200 million in participation units. Roughly 25,000 retail investors, all Montepio clients, subscribed to these innovative equity instruments. 

Contacts

Miguel Geraldes (Head of Listings, Euronext)
+351/21 790 0062
mgeraldes@euronext.com

Pedro Wilton (Senior Account Manager, Euronext)
+351/21 790-0102
pwilton@euronext.com

ExpertLine: +351/21 790-0055
For more information or for specific questions, please contact your Account Manager or send an email to MyQuestion@euronext.com. 
 

Paris Newsbites

A new SME stock savings account to boost the small- and mid-cap segment

A boost for small and medium-sized companies: this is the goal for the new SME stock saving accounts (PEA PME) that will be launched  in France at the beginning of this year. Benefiting from the same tax advantages as traditional stock saving accounts (PEA), this new form of saving accounts must have 75% of securities being SMEs, half in stock, without exceeding €75,000. Eligible companies will be those with fewer than 5,000 employees and a turnover of less than €1.5 billion, or total assets inferior to €2 billion. Professionals estimate that this new product will be able to attract one to two billion euros – a most welcomed addition of financing for small and medium-sized companies that sometimes might struggle to get enough support.

Asset managers show strong interest for these new saving accounts. “This innovation expands the investment radar in favour of small and medium-sized companies,” says Diane Bruno, manager at Mandarine Gestion. “By offering a new opportunity for tax savings, the PEA PME could interest people whose existing stock account has capped out.” Investing in PEA PME would not lead to sacrifice any performance. “Small and mid-caps have been outperforming structurally since 2000”, notes Diane Bruno. A large majority of management companies are therefore expected to create funds that qualify for this new PEA.

To assist the Management companies, Euronext is preparing to launch a PEA PME index developed together with Société Générale. “We very much want to support the small and mid-cap compartment. Our initiative will supplement and buttress EnterNext’s efforts in this area”, says George Patterson, Euronext index manager. “Creating a benchmark will support this listing segment, as well as respond to a demand from professionals.” This index, initially limited to France and containing around forty securities, will meet PEA PME eligibility criteria as well as its liquidity criteria, with a required minimum of €250,000 in daily transactions. Further on, a pan-European index is in the pipeline.

Renewed strength of the Parisian markets in 2013

Euronext Paris played a major role in financing the French economy in 2013. Companies listed on our markets raised €64.3 billion last year, including €10.5 billion in equity and €53.7 billion in bonds. Moreover, unlisted companies also benefited from Euronext’s dynamism and listed numerous bond issues on our markets.

A total of 26 companies entered Euronext or Alternext Paris, compared with 19 in 2012 (+37%), representing an additional market capitalization of €80 billion, with €72bn coming from cross-Atlantic dual listings of Infosys and Eli Lilly. Around 20 of these operations were accompanied by public offers raising a total of €1.3 billion (a growth rate of more than 400% compared to 2012). One of these issuers was Cardio 3 Biosciences that became the first company to successfully list and raise money in Paris and Brussels simultaneously.

The three largest primary capital raisings on Euronext were Numéricable (€750 million), Tarkett (€462 million) and Blue Solutions (€42 million), all three taking place in the fourth quarter. On Alternext, the largest operations were Figeac Aero (€18 million), Carbios (€13 million) and Spineguard (€8 million) and Spineway (€5 million).

Contacts

Joseph Brigneaud (Business Development and Client Coverage Manager Rhône–Alpes & Auvergne regions, EnterNext)
Tel. +33 (0)4 72 40 56 97
jbrigneaud@euronext.com

Jean-Baptiste Celard (Business Development and Client Coverage Manager West and East regions, EnterNext)
Tel. +33 (0)1 49 27 50 38
jbcelard@euronext.com

Nicolas-Gaston Ellie (Business Development and Client Coverage Manager South-West region, EnterNext)
Tel. +33 (0)1 49 27 11 22
ngellie@euronext.com

Eric Forest (Chairman and CEO, EnterNext)
Tel. +33 (0)1 49 27 10 78
eforest@euronext.com

François Houssin (Head of Client Coverage France, Euronext)
Tel. +33 (0)1 49 27 12 65
fhoussin@euronext.com

Stéphane Laskart (Business Development and Client Coverage Manager West and East regions, EnterNext)
Tel. +33 (0)1 49 27 10 31
slaskart@euronext.com

Marc Lefèvre (Head of European Listings Clients & Business Development, Euronext)
Tel. +33 (0)1 49 27 10 87
mlefevre@euronext.com

Guillaume Mordelet (Business Development and Client Coverage Manager Mediterranean Area, EnterNext)
Tel. +33 (0)4 91 13 46 46
gmordelet@euronext.com

Guillaume Morelli (Business Development and Client Coverage Manager SMEs, Ile de France and North regions, EnterNext)
Tel. +33 (0)1 49 27 12 98
gmorelli@euronext.com

ExpertLine:

Tel. + 33 (0)1 49 27 15 15

For more information or for specific questions, please contact your Account Manager or send an email to MyQuestion@euronext.com.

Brussels Newsbites

First European Advanced Therapies Biotech Investor Day

Euronext hosted and co-organised together with the Alliance for Advanced Therapies the first European Advanced Therapies Biotech Investor Day on 29 November 2013. Leaders of European advanced therapies companies met with investors, brokers, analysts and journalists to showcase the potential of new cell-, tissue-, and gene-based therapies and discuss investment strategies. Eduardo Bravo, Chair of the Alliance for Advanced Therapies, opened the European stock markets in Brussels with a bell ceremony commemorating the first meeting of its kind in Europe.

“Three European companies from the advanced therapies sector have gone public since the beginning of 2013, two of which on Euronext markets: Erytech Pharma (France) and Cardio3 BioSciences (Belgium). We anticipate that many more will follow in the coming years,” declared Vincent Van Dessel, Chairman and Chief Executive Officer of Euronext Brussels.  

Belgian Investor Day in Zurich

Euronext hosted the first Belgian Investor Day in Zurich on 4 December 2013 in partnership with Bank Degroof. More than 80 one-to-one meetings were organised between Swiss professional investors and the 14 Belgian listed companies during this day of networking and conferences. Damien Petit, Bank Degroof Senior Economist, provided some perspective on the topic: “The Euro area, light at the end of the tunnel?”

Viohalco: the largest EnterNext listing in 2013

Viohalco, the holding company for a large metals group, celebrated its listing in Brussels on 22 November 2013. The reference price of Viohalco shares was €4.19 per share, valuing the company at €920 million at the listing date. “We are delighted with Viohalco's listing on Euronext Brussels and congratulate the company upon joining a community of over 160 other international issuers listed on our European markets.” said Alain Baetens, Head of Listings of Euronext.

Contacts
Alain Baetens (Head of Listings Belgium, NYSE Euronext),
+32/2 509-1279
abaetens@euronext.com

ExpertLine: +32/2 509-9595
For more information or for specific questions, please contact Alain Baetens or send an email to MyQuestion@euronext.com.

Amsterdam Newsbites

Unveiling of the “Amsterdam Exchange Experience” in the presence of her majesty Queen Maxima

Euronext presents the “Amsterdam Exchange Experience”, a new interactive and permanent exhibition about the role of the exchange in the local economy, developed with a view to financial education. On 6 November 2013, the exposition was opened during the centennial celebration of the Amsterdam exchange building in the presence of Her Majesty Queen Máxima. The Queen took part in a festive dinner with key clients and stakeholders where she spoke in her capacity as a member of the Committee for Enterprise and Finance and honorary chair of the Money Wise Platform. The Amsterdam Exchange Experience was opened to the public on 11 November.

Cees Vermaas, CEO of Euronext Amsterdam: “We are very proud of the opening of the Amsterdam Exchange Experience. The purpose is to make people aware of the importance of the exchange and its listed companies for the Dutch economy. In the Experience we explain the functioning of the capital market in an understandable manner”.

Those interested can register for the tours of the Experience on the website www.amsterdam-exchange-experience.com.

EnterNext welcomes SnowWorld 

EnterNext, the Euronext subsidiary dedicated to promoting and supporting SMEs, welcomed the listing of SnowWorld on 12 December 2013. SnowWorld manages two indoor ski facilities and is one of the world’s leading companies in this industry. The company has grown rapidly since its foundation in 1996.

Cees Vermaas, CEO of Euronext Amsterdam declared: “SnowWorld is a good example of successful Dutch entrepreneurship. With the listing on Euronext Amsterdam a new phase will start for the company in which they can benefit from the exchange as a partner and alternative financing source.”

Koos Hendriks, CEO of SnowWorld said: “The listing on Euronext Amsterdam is the basis of our ambition to realize the roll out of the SnowWorld concept in Europe.”

Contacts

Hans Leufkens (Head of Business Development SMEs Netherlands, EnterNext),
+31/20 550-4687
hleufkens@euronext.com

Anne-Louise van Lynden (Head of Listings Netherlands, Euronext),
+31/20 550-4107
alvanlynden@euronext.com

ExpertLine: + 32/20 550-4545

For more information or for specific questions, please contact your Account Manager or send an email to MyQuestion@euronext.com
 

Opkikker foundation sounds gong for new campaign

The 8-year-old Jay-jay Willems experienced the day of his life thanks to the Opkikker Foundation. Together with the Ajax Foundation his dream of playing together with Ajax came true.

Besides being a cheerful boy of eight and Ajax at heart, Jay-jay is chronically ill. Via a tube in his stomach he receives almost one liter of medication every day. The disease has a huge impact on his daily life and his family. The Emma Children’s Hospital Jay - jay was signed at the Emma Children 'cheer.

Opkikker organizes special ‘Opkikker’ days for families with a chronically ill child. Jay-jay is the face of the new campaign in which the foundation calls attention to the need for these days for families with a sick child. The unique images of Jay-jay 's Opkikkerdag have been viewed more than a million times. The entire campaign was developed free of charge.

For more information: www.opkikker.nl

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Espírito Santo Saúde celebra entrada em Bolsa

A CEO da Espírito Santo Saúde, Isabel Vaz, juntamente com o conselho de administração da empresa, tocou o sino de encerramento da sessão da Bolsa Portuguesa para comemorar a Oferta Publica Inicial (OPI) e o aumento de capital. Com esta operação, a ESS angariou fundos de cerca de 150 milhões de euros, junto de investidores nacionais e internacionais, os quais serão utilizados para o financiamento da sua actividade geral e investimentos futuros.

Winners investment competition ‘Battle of the Schools’ sound gong

Students from the Olympus Collegefrom Arnhem sound the gong to celebrate their victory in the investment competition for schools.

The Battle of the Schools is an investment game for students and teachers in the upper classes of the secondary and advanced secondary school system. Students are divided into groups of three or four. Each group takes on the role of an investment advisor who is responsible for advising a family member, for example a father, mother or grandparent. The students are given a virtual capital of 100,000 Euros to invest in shares and investment funds listed on Euronext Amsterdam.

For more information: www.scholenstrijd.nl

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DSM celebrates 25 years listing anniversary

By sounding the gong, DSM celebrates 25 years as a listed company on the Amsterdam exchange. DSM listed on 6 February, 1989.

DSM was mainly a petrochemical company and predominantly active in the Netherlands. Now, 25 years later, DSM is a global Life Sciences and Materials Sciences company with more than 200 locations worldwide and activities on five continents. In these 25 years, DSM’s share price has increased by more than 500%. DSM is represented at Euronext Amsterdam by a group of young managers, active in various functions, including Mergers & Acquisitions, Business Control, Operational Audit, Tax, Treasury, Production, Investor Relations and Communications. Investor Relations Manager at DSM, Marc Silvertand, sounds the gong.

For more information: www.dsm.com

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Bell Ceremony to celebrate the listing of Hamon bonds

On 5 February 2014, Francis Lambillotte, CEO of Hamon and Christophe Maréchal, Group Treasurer of Hamon, opened the European stock markets with a Bell Ceremony at Euronext Brussels to celebrate the listing of bonds of 55 million euros on the Brussels markets. The bond has a 6 years maturity and an annual rate of 5.5 per cent.

BNP Paribas Fortis SA/NV and KBC Bank NV were the Joint Lead Managers.

The Hamon Group is a global player in engineering and contracting.

To know more about this company : www.hamon.com

World Cancer Research Fund NL for World Cancer Day 2014 and 20th anniversary

Nowadays cancer is worldwide the leading cause of death with over 8.2 million deaths per year. On World Cancer Day 2014, that took place on Tuesday 4 February with the theme ‘Debunk the myths about cancer’, attention is given to the fact that cancer is the key health burden we face in our generation. World Cancer Research Fund NL sounds the gong to raise awareness for the importance of and the need for cancer prevention.

This year World Cancer Research Fund NL celebrates its 20th anniversary as the leading authority in the field of cancer prevention through diet and lifestyle in the Netherlands. The foundation is part of the global World Cancer Research Fund (WCRF) network, a network of independent organizations around the world who are committed to the prevention of cancer. Scientific evidence shows that over a third of the most common cancers can be prevented by eating a healthy diet, being regularly physically active and being a healthy weight. Director of the World Cancer Research Fund NL, Nadia Ameyah, sounds the gong.

For more information: www.wcrf.org

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DEGIRO highlights leverage campaign

DEGIRO, an online broker and investment platform, sounds the gong to highlight the launch of its leverage campaign. The campaign is targeted at experienced, active investors. As from today they can invest via DEGIRO in leveraged products issued by ABN AMRO, ING, RBS, Citi and Commerzbank, and pay €0 in transaction costs for the first six months.

Cooperating with other issuers in the area of IT, generates more efficiency with respect to leveraged products such as Turbos, Sprinters and Speeders. Gijs Nagel, retail director, sounds the gong.

For more information: www.degiro.nl

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Gong marks Amsterdam City Index

The gong ceremony marks the Amsterdam City Index that ended at 118 in 2014.

The index is published by theCompanies Association Amsterdam Cityandmeasuresthe economic climate of the Amsterdam City Center XL - the extensive downtown from Central Station to Cornelis Schuytstraat and Haarlemmerbuurt to Carré. Last year the index ended at 117. Chairman of Amsterdam City, Willem Koster, sounds the gong.

For more information: www.amsterdamcityindex.nl

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Gong marks Philips Innovation Award

This year, the ninth edition of the Philips Innovation Award (PHIA) is organised for students and by students. The PHIA has grown to become the largest student-entrepreneur competition in the Netherlands. Every year the organisation helps students with an innovative spirit from idea to business plan, and from business plan to start-up.

The PHIA invites students to participate in the business plan competition before the 16^th of February. Experienced business professionals, who will provide participants with feedback, will judge the plans. The ten best entries will be coached by partners of the organisation before participating in the semi-finals on March 27. The five finalists will compete for the grand prize on the 24^th of April.

In order to help students writing a business plan, the organisation has developed an online lecture trajectory. In four lectures, experts touch upon intellectual property protection, marketing, finance and many more crucial topics for start-ups. The lectures can be viewed via the organization’s web page on a computer, tablet and/or smartphone. The lectures are interactive, which means guest lecturers can answer questions.Daan van Maanen, Senior Director M&A Philips, sounds the gong.

For more information: www.phia.nl

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Bell Ceremony to celebrate the first listing of the equity options on RTL

On 29 January 2014, Guillaume de Posch, CEO of RTL Group opened the markets with aBell Ceremonyat Euronext Brussels to celebrate the introduction of a new option contract on RTL at Euronext Brussels. Elmar Heggen, CFO of RTL Group and Philippe Delussine, CEO of RTL Belgique joined the CEO on the podium of the Bell Ceremony. The trading symbol of this new option is RTL.

RTL Group is the leading European entertainment network with interests in 55 television channels and 27 radiostations and content production throughout the world.

To learn more about the company : www.rtlgroup.com en www.rtl.be

For the list of all the Belgian options: https://www.euronext.com/en/for-investors/financial-derivatives