TEPA Campaign 2012

Launch of a reserved capital increase eligible for the TEPA tax scheme

How to subscribe to the operation?

A free subscription form is available on our website. We invite you to download it, to complete it and to send it to Nicolas Déhais, H. et Associés 60, rue de Monceau -75008 Paris. Tel. 01.55.04.05.51 Subscription is open from May 3 to 22, 2012. The company reserves the right to close the operation early if the sum of 517,509.72 euros is reached before May 22nd 2012.

What administrative formalities must I complete in order to benefit from the tax advantage linked to my subscription to the capital increase?

The provisions cited below are based on French tax legislation currently in force, and are therefore likely to be affected by any changes in the applicable French tax provisions and their interpretation by the tax authorities. Investors' attention is drawn to the fact that this information is merely a summary of the applicable tax regime and that their particular situation must be studied with their usual tax advisor.

If your taxable assets are less than 3 million euros

You must now indicate the value of your ISF taxable assets only in your supplementary income tax return (n°2042 C) which will be attached to your 2011 income tax return to be submitted before May 31, 2012 for "paper" returns (you benefit from additional deadlines depending on the department of your main residence if you declare your income online at www.impÃ'ts.gouv.fr).The amount of the ISF reduction must also be indicated in your n°2042 C return. In addition, you are exempted from producing an individual subscription statement for the benefit of the wealth tax reduction.
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If your taxable assets exceed 3 million euros
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You will have to fill in the usual wealth tax return and send it with the corresponding payment by June 15, 2012.The individual subscription statement, which will be sent to you by Exonhit at the end of the capital increase, must be attached to the wealth tax return or sent to the tax authorities within three months of the deadline for filing the return, i.e. by September 15, 2012 at the latest.

Are the shares subscribed in the context of the proposed capital increase eligible for a PEA?

The shares subscribed in the context of this operation are eligible for ISF and therefore cannot be included in a PEA.

About the TEPA

Act Article 16 of Act No. 2007-1223 of August 21, 2007 in favor of work, employment and purchasing power, known as the "TEPA Act", as amended by the 2011 Finance Act (Act 2010-1657 of December 29, 2010, art. 38), allows for an ISF reduction equal to 50% of the sums invested in certain eligible SMEs up to a limit of €45,000 (i.e. a maximum payment of €90,000). In order to benefit from this reduction, the subscriber must keep the shares acquired until December 31 of the fifth year following the year of subscription.
In addition, the new Exonhit shares subscribed within this framework will be exempt from wealth tax for 2013 and the following years, without any limitation of amount and without any commitment to keep them, subject to the production of a certificate from the company indicating that the conditions for the benefit of the exemption are indeed met.