Capital régional et coopératif Desjardins' semi-annual results - Shares rise by $0.08



    MONTREAL, Aug. 20 /CNW Telbec/ - Capital régional et coopératif
Desjardins ("the Company") closed the first half of its fiscal year on June
30, 2009 with net income of $6.9 million compared with a net loss of $4.5
million for the same period of 2008 in spite of the particularly difficult
economic and financial times. These results raise the per share value to $9.62
compared with $9.54 at the end of fiscal 2008. The new share value goes into
effect at noon today.
    Capital subscriptions during the first half of the year reached $84.1
million, while share redemptions totalled $23.2 million. This figure is due to
the fact that approximately 23% of the shares eligible for redemption at the
end of their minimum seven-year holding period were redeemed. Net assets
totalled $880.4 million as at June 30, 2009, and the number of shareholders
was 121,584.
    Marie-Claude Boisvert, COO of manager Desjardins Venture Capital,
reiterated her confidence in the global asset management strategy implemented
3 years ago. "While there were other factors that influenced our performance,
we are happy to say that this approach has allowed us to navigate through some
very unstable economic conditions and report positive results for our
shareholders."
    Among these other factors, improving credit conditions helped generate
positive returns for both Capital régional portfolios - Investments impacting
the Québec economy, and the liquid portfolio now known as Other investments.
That being said, investment in companies, cooperatives and funds generated a
contribution of $5.9 million, allowing the portfolio to post a return of 1.6%
for the six-month period ended June 30, 2009 compared with a negative return
of 6.5% for fiscal 2008. The Other investments portfolio generated a 3.1%
return for the first six months of 2009 compared with 4.7% for fiscal 2008.
    About investments, says Marie-Claude Boisvert, "We continued to fulfil
our mission among Québec's businesses by offering them direct support. Over
these six months, close to 40 companies have taken advantage of Capital
régional backing, making for disbursements of more than $35 million - mainly
in new projects." As at June 30, 2009, the Company held commitments totalling
$488.7 million in 227 companies, cooperatives and funds, creating or retaining
31,000 jobs.
    Chairman of the Board André Lachapelle declared that, "We're proud of
Capital régional's performance, in spite of a particularly challenging
environment. With the new share value, shareholders who invested seven years
ago will obtain an annual after-tax return of more than 9.0% taking into
account a 50% tax credit. I firmly believe that results like these will
encourage our existing shareholders to renew their trust and stimulate new
shareholders to buy the securities. And, on that note, I'd like to remind
everyone that the Company's securities are still available throughout the
caisse network," concluded Mr. Lachapelle.

    Capital régional et coopératif Desjardins

    Founded in 2001, Capital régional et coopératif Desjardins is a publicly
traded company managed by Desjardins Venture Capital. With over 120,000
shareholders, the Company contributes to Québec's economic development while
driving the growth of cooperatives and the resource regions. Capital régional
et coopératif Desjardins currently supports more than 225 companies,
cooperatives and funds in various industries spanning all Québec regions.
(capitalregional.com)




For further information:

For further information: Danièle Routhier, Manager, Public Affairs,
Desjardins Venture Capital, (514) 281-2211,
daniele.routhier@dcrdesjardins.com


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