A WORD FROM › wp-content › uploads › 2017 › 11 › Pres-R…ABOUT US RMF Red Med Finance (RMF) was founded in 2004 by Abdeslam ABABOU, an M&A professional with more than 25

A WORD FROMTHE CHAIRMAN

2018 should bear key assets to boostthe economic gears through:

Strong macroeconomic fundamentals;A robust banking sector and asophisticated asset managementindustry;A capital market with considerabledevelopment potential;Independent supervisory bodies (BankAl Maghrib, ACAPS, AMMC,…) workingto strengthen the confidence ofinvestors, entrepreneurs and mediumsavers;A large volume of available liquidity notinjected into the economy;An ecosystem of large companies andSMEs in demand for services andsupport to boost their development;The development of high added-valuebusiness sectors (renewable energy,automotive, aerospace, etc.) and anincrease in the local integration rate;Continuity of state policy based onperformance and results-oriented ofpublic finance that should result inprivatization, launching public-privatepartnership projects, appealing publicsavings and private placements or theestablishment of innovative financingtools;

A confirmation of Morocco's regionalintegration, particularly with its return to theAfrican Union, consolidating thedevelopment of sustainable activities inAfrica.

This context calls for independent investmentbanks to fully play their role in thismomentum, efficiently making the linkbetween entrepreneurs and capital, but alsobetween companies and developmentopportunities and between savers andinvestment products.

Red Med is fully committed in this process byrelying on its independence, strong values,expertise and in-depth knowledge of theeconomic and regulatory ecosystem. Assuch, we offer two types of high value-addedservices: Corporate Finance through RedMed Finance and Asset Managementthrough Red Med Asset Management.






2






TABLE OF CONTENTSTABLE OF CONTENTS

1

2

3

4

-

-

-

-

About us

RMF core business

RMF team

Credentials

3

1ABOUT US1

ABOUT US

4

ABOUTUS

RMF

Red Med Finance (RMF) was founded in 2004 by Abdeslam ABABOU, an M&A professionalwith more than 25 years of experience. RMF is an investment bank specialized in corporatefinance and asset management.

ABOUTUS

RMF ethical values combined withour sharp expertise enable us to

RMF has an extensive network ofboth private and institutional clients,nationally and internationally.

provide customers with a solidEXPERTISE NETWORKsupport in their development projects

and equity raising needs.

In addition, we are fully independentfrom other financial institutions.Our proven experience and deep

knowledge of the financial markets,

In addition, we are fully independentfrom other financial institutions.Our proven experience and deep

knowledge of the financial markets, Our code of ethics and stricteconomic, legal and accounting confidentiality policy as well as our

customer-oriented structure enableEXPERIENCE environments help us provide ourcustomers with high added valueservices.

INDEPENDENCEus to focus entirely on thechallenges our customers face. Weprovide objectivesolutions.

personalized

5

RMFPOSITIONING Advisor to national and international companies on M&A transactions

in Morocco and throughoutAfrica; Advisor to the Moroccan government on privatization transactions;

Advisor to SMEs in capital financing restructuring;

RMF has also developed a sharp expertise in the following industries :

RMFPOSITIONING Advisor to national and international companies on M&A transactions

in Morocco and throughoutAfrica; Advisor to the Moroccan government on privatization transactions;

Advisor to SMEs in capital financing restructuring;

RMF has also developed a sharp expertise in the following industries :

Telecommunications;

Renewable energies;

Natural resources;

Tobacco;

Shipping;

Agribusiness;

Retail;

Pharmaceutical;

Mining;

Banking & Insurance;

Infrastructure including construction and general contracting.

Telecommunications;

Renewable energies;

Natural resources;

Tobacco;

Shipping;

Agribusiness;

Retail;

Pharmaceutical;

Mining;

Banking & Insurance;

Infrastructure including construction and general contracting.

6

2CORE

BUSINESS

2CORE

BUSINESS

MERGERS ANDACQUISITIONS

INDEPENDENT JUDGMENT AND OBJECTIVE ANALYSISOF CUSTOMERS NEEDS AND CHALLENGES

RMF provides its customers with expertise on avices, including:

complete range of ser-

Industry perspectives;

Market analysis and competitive positioning;

Strategic advisory;

Industrial development solutions;

Coordination between stakeholders (legal andbankers ...);

Business Plan Modeling;

tax advisors, auditors,

Industry perspectives;

Market analysis and competitive positioning;

Strategic advisory;

Industrial development solutions;

Coordination between stakeholders (legal andbankers ...);

Business Plan Modeling;

Evaluation of companies for mergers, acquisitions or sale;

Assistance in negotiations with counterparties;

Management of equity/debt raising process.

8

BUYOUTPROPOSALSDEEP UNDERSTANDING OF STAKEHOLDERS ANDOPTIMIZED OPERATIONS CONDITIONS

RMF assists its clients throughout the complex tender process throughcomprehensive range of services:

a

Strategic Study and identification of the transactions objectives;

Company evaluation and determining appropriate transactions price range;

Obtaining the necessary permits from market regulators;

Coordinating communication plans;

Selecting brokers upon evaluation of skills and fees;

Constitution of a distributing syndicate.

Strategic Study and identification of the transactions objectives;

Company evaluation and determining appropriate transactions price range;

Obtaining the necessary permits from market regulators;

Coordinating communication plans;

Selecting brokers upon evaluation of skills and fees;

Constitution of a distributing syndicate.

9

FINANCINGINNOVATIVE FINANCING SOLUTIONS FOROPTIMAL CONDITIONS WITH PERFECTKNOWLEDGE OF THE DEBT MARKET

RMF provides advising on finding and optimizing funding sources:

Bank loans: The independent nature of RMF enables it tonegotiate the best terms and conditions for financingarrangements with numerous financial institutions;

Capital Markets: RMF assists its client in choosing the financialinstrument to be issued according to their needs and to marketopportunities.

RMF assists its customers at every stage of the process :

Choosing the right instruments to be issued depending on marketopportunities;

Dealing with the legal and fiscal aspects.

RMF assists its customers at every stage of the process :

Choosing the right instruments to be issued depending on marketopportunities;

Dealing with the legal and fiscal aspects.

RMF specializes in the following financing operations :

Financing of acquisitions;

Financing of growth;

Recapitalization;

Capital financing restructuration.

PRIVATIZATIONPROVEN EXPERIENCE IN PRIVATIZATIONTRANSACTIONS

Our proven track record in this sector and knowledge of thekey players enables us to offer our clients high added valueservices such as:

Our proven track record in this sector and knowledge of thekey players enables us to offer our clients high added valueservices such as:

Assessing and negotiating optimal transfer mechanismsto meet the needs of both the government and purchasers;

Advising clients throughout the privatization and companyvaluation process, according to its characteristics

(regulatoryand business environmentframework, competition ...);

Assisting clients when negotiating key components ofthe transfer (terms of sale, shareholders agreement,future regulatory requirements ...);

Assisting clients when negotiating key components ofthe transfer (terms of sale, shareholders agreement,future regulatory requirements ...);

Providing recommendations on optimum conditionsfor growing a company’s business following itsprivatization.

11

STRATEGYCONSULTINGA WIDE NETWORK OF NATIONAL ANDINTERNATIONAL FINANCIALPARTNERS

AND BUSINESS

The experience of RMF allows us to carry out the various stepsrelated to strategy consulting, such as:

Sector analysis and benchmarking;

Critical analysis of a business model;

Identification of key partners;

Analysis of options concerning financial and legal structuring;

Business plan and valuation;

Assisting clients with tenders and/or concessions identificationand submittals including negotiations with the relevant stakeholders;

Assisting clients in the development and implementation of theirCSR activities.

Sector analysis and benchmarking;

Critical analysis of a business model;

Identification of key partners;

Analysis of options concerning financial and legal structuring;

Business plan and valuation;

Assisting clients with tenders and/or concessions identificationand submittals including negotiations with the relevant stakeholders;

Assisting clients in the development and implementation of theirCSR activities.

12

ASSETMANAGEMENTA SHARP EXPERTISE IN THE ASSET MANAGEMENTACTIVITYA SHARP EXPERTISE IN THE ASSET MANAGEMENTACTIVITY

Red Med Asset Management (RMAM) is a subsidiary company of Red MedFinance, which main mission is to ensure the sustainability and growth ofthe funds it is entrusted with depending on the client risk/return profile.

RMAM provides customized services and high standards of assetmanagement targeting the following categories of investors:

Companies interested in growing their cash surpluses;

Institutions and large companies;

High net worth individuals: resident or non resident private clients.

RMAM started the certification process ISAE “the International Standard onAssurance Engagements 3402,” which is the first international standard,globally recognized as a way to document and demonstrate the practice ofmonitoring in connection with the activities and management of businessassets.

13

ASSETMANAGEMENT

RMAM offers clients a diverse range of funds:

Three funds launched in July 2011 : (i) a monetary fund (MonetaryAlpha), (ii) a bond fund short and long term (Alpha Income) and (iii) anEquity fund (Dynamic Alpha).

RMAM has launched in April 2015, a bond fundAlpha Secure, investedin Treasury bonds and securities guaranteed by the state.

In May 2016, RMAM set up a short term bond fund with a bankingthematic (Alpha Bank) composed of the best signatures of localbanks.

RMAM is considering the establishment of a “Green Fund” invested in“Green Bonds”, part of the vision of the Authority of the MoroccanCapital Markets (AMMC) to promote the financing of the greeneconomy and socially responsible companies.

RMAM is considering the establishment of a “Green Fund” invested in“Green Bonds”, part of the vision of the Authority of the MoroccanCapital Markets (AMMC) to promote the financing of the greeneconomy and socially responsible companies.

PERFORMANCES RMAM now has a diverse customer base, including majorinstitutional investors (Insurance Companies, Pension Fund,Banks), as well as individuals.

RMAM operates according to the highest standards of theprofession, particularly in terms of asset allocation and riskmanagement and is in full compliance with the rules of AMMC.

The UCITS RMAM achieve strong performances on differentasset classes, thanks to a dynamic and careful managementstrategy.

PERFORMANCES OF RMAM’S UCITS VS BENCHMARKS

2014 015 2016 2017(MDH)

UCITSNet

assets*(MDH)

2013 2014 2015 2016 2017 2018

FCP ALPHA MONETAIRE 1 211,4 4,33% 4,38% 3,26% 2,58% 2,64% 2,54%*

FCP ALPHA INCOME FUND 392,6 4,14% 6,75% 3,47% 3,69% 2,78% 2,88%*

FCP ALPHA SECURE FUND 1 139,4 - - 2,74% 3,40% 2,57% 3,05%*

FCP ALPHA DYNAMIC FUND 8,7 4,54% 4,03% -2,34% 39,04% 10,09% 3,79%*

FCP ALPHA BANK FUND 1 065,8 1,83% 2,64% 2,92%*FCP ALPHA BANK FUND 1 065,8 1,83% 2,64% 2,92%*

Benchmark 2013 2014 2015 2016 2017 2018MBI CT 4,15% 3,89% 2,63% 2,44% 2,28% 2,5%*

MBI MLT 2,25% 16,82% 4,31% 5,34% 3,02% 4,66%*MBI - - 2,27% 5,18% 2,78% 4%*

MASI -2,62% 5,55% -7,22% 30,46% 6,39% 4,09%*

*Annualized YTD Performance at 6th April 2018

3TEAM3

TEAM

bdeslam is Partner, Chairman of Red Med Finance since 2004.

He has 25 years of experience in mergers and acquisitions and hasled several consulting missions, capital development and restructuringtransactions. His client portfolio includes major international andnational groups working in telecommunications, energy, transport,environment, retail and food industry.

A

He has 25 years of experience in mergers and acquisitions and hasled several consulting missions, capital development and restructuringtransactions. His client portfolio includes major international andnational groups working in telecommunications, energy, transport,environment, retail and food industry.

Abdeslam is as well President and Founder of Red Med AssetManagement (2011).

Abdeslam is also a board member of several companies in therenewable energy sector, finance, tourism, agro and mechanicalengineering.

Between 2000 and 2003 he was co-founder and CEO of Advisory &Finance Group and President andco-founder of Advisory AssetManagement.

Abdeslam ABABOUPartner RMF

President [email protected]

Abdeslam ABABOUPartner RMF

President [email protected]

Abdeslam began his career in 1990 at Bank Paribas in Paris then inLondon. He left in 2000 as manager of mergers & acquisitionsdepartment.

Abdeslam holds an engineering degree from ENSEEIHT France.

17

Amine JOUAHRIManaging Partner - [email protected]

Amine joined the Red Med Finance team in January 2015.

Between January 2010 and December 2014, Amine served as Director of Strategy andDevelopment of Wafa Assurance in Morocco, where he oversaw obtaining insurancelicenses for 3 subsidiaries in Africa, and contributed to the development of a newbusiness in Morocco. He also supervised the development and management of three-year strategic plans.

Between January 2010 and December 2014, Amine served as Director of Strategy andDevelopment of Wafa Assurance in Morocco, where he oversaw obtaining insurancelicenses for 3 subsidiaries in Africa, and contributed to the development of a newbusiness in Morocco. He also supervised the development and management of three-year strategic plans.

Sofia MANSOURIProject Manager - RMF

[email protected]

Between January 2004 and December 2009, Amine was ConsultantManager in Winter & Associates , 1st actuarial consulting firm in France.Amine was responsible for the technical and financial monitoring ofgroup pension insurance contracts, but also the organization of calls fortenders in insurance and asset management. He also supervised benefitliabilities assessments missions, and valuation of insurance andreinsurance companies.

Sofia joined the team of Red Med Finance in May 2011. She has since beeninvolved in various corporate finance projects, specializing in the pharmaceutical,health, mining and renewable energy industries.

Between 2009 and 2011, Sofia was in charge of the automotive industry in the Marketing &Strategy Departement of the Moroccan Investment Development Agency (AMDI).

Between January 2004 and December 2009, Amine was ConsultantManager in Winter & Associates , 1st actuarial consulting firm in France.Amine was responsible for the technical and financial monitoring ofgroup pension insurance contracts, but also the organization of calls fortenders in insurance and asset management. He also supervised benefitliabilities assessments missions, and valuation of insurance andreinsurance companies.

Between 2004 and 2009, Sofia was CFO of Platinium Music, a production and music distributioncompany licensed by Universal Music France.

Amine is a graduate from HEC Paris School(IFAC Major - Finance Audit InformationConsulting) and also holds a Bachelor inElectrical Engineering from the University of SaintLouis in the United States.

From 2001 to 2002, Sofia worked as a Project Manager within the Canadian International DevelopmentAgency.

Sofia graduated from UQAM in Montreal, holds a BA in Management Accounting and a Master in CorporateFinance. Sofia also holds a Certificate in English Language from McGill University.

18

Amine ALAMI MESMOUDIChargé d’Affaires – RMF

Accountant Memorist registered at [email protected]

Amine ALAMI MESMOUDIChargé d’Affaires – RMF

Accountant Memorist registered at [email protected]

Amine joined the team of Red Med Finance in July 2016.

From January 2012 to June 2016, Amine served as senior consultant andauditor at Ernst & Young Morocco where he was responsible of variousmissions of due diligence and audit for large national and internationalcompanies.

Amine also supervised several missions of consolidation(moroccan standards and IFRS).Amine also supervised several missions of consolidation(moroccan standards and IFRS).

Amine is graduated from ISCAE (normal cycle – Majorin Finance).

19

Rachid El LakhdiGeneral Managerl - RMAM

[email protected] Khalil El YamaniStrategy and Development Manager -RMAM

[email protected] joined Red Med Asset Management team in May 2017.

Khalil El YamaniStrategy and Development Manager -RMAM

[email protected] joined Red Med Asset Management team in May 2017.

With more than 20 years in financial markets, Rachid took several positions suchas head of trading in Crédit du Maroc Capital, Member of the Executive Board ofM.S.IN in charge of corporate finance and market research and head of portfolio Khalil joined Red Med Asset Management in August 2017.

management

From 2008 toinvestors

at

2012, he wasat

CDG

responsibleCrédit

Capital

of institutional anddu

Bourse.

large privateMaroc.

Khalil has more than ten years experience in the asset management business.

He was Managing Director of Valoris Management from 2013 to 2017, where heRachid holds an Executive MBA of ponts et chaussée Paris, ageopolitical certificate of Geneva Institute of geopolitical studies anda Master in Internal audit and management control of Sup de CoToulouse.

managed all the operational aspects : front office, back office, middle office , internalcontral, analysis&research, as well as the commercial aspect with a portfolio of leadinginstutitional clients and large companies.

From 2010 to 2013, Khalil was responsible of the front office covering bond and equity managementat Valoris Management.

From 2010 to 2013, Khalil was responsible of the front office covering bond and equity managementat Valoris Management.

Khalil holds a bachelor’s degree from Al Akhawayn University in finance and a master’s degree ininternational financial management.

21

Marouane El YamaniManaging Director - RMAM

[email protected]

Marouane El YamaniManaging Director - RMAM

[email protected]

Intissare EL BAJTAAsset Manager - RMAM

[email protected]

Marouane joined Red Med Asset Management in May 2017.

He is in charge of leading management of both equities and bonds ensuring theoptimization of the risk/reward investments adapted to customer needs.

Intissare joined the team of Red Med Asset Management in June 2016.

From 2013 to 2017, Marouane has served at CDG Capital as multi asset saleswhere he contributed to the inssuance of the largest Moroccan bonds (OCP,TMSA, ONCF...) He was also in charge of the management of 2.5 Bn MAD inthe bond market.

From 2015 to 2016, Intissare worked as an asset manager at Capital Trust Gestionwhere she was in charge of the funds’ management by the implementation of various

investment strategies.

Given her solid academic background in applied mathematics and optimization, combinedwith quantitative and analytical skills, Intissare developed a mathematical/stochastic model for

the optimization of a multi assets portfolio under the VaR and CVaR constraints. This model has

Marouane worked for one year as a fund of funds manager assistant atAllianz Global Investors (AGI Paris).

Given her solid academic background in applied mathematics and optimization, combinedwith quantitative and analytical skills, Intissare developed a mathematical/stochastic model for

the optimization of a multi assets portfolio under the VaR and CVaR constraints. This model has

Marouane worked for one year as a fund of funds manager assistant atAllianz Global Investors (AGI Paris).

been chosen by the African Institute of Risk-Management (IARM) as the best master’s thesis onQuantitative Finance in Africa for the year 2015.

Marouane holds a Magistere in banking and finance fromPanthéon – Assas Paris II University and a master degree intechnical financial and banking.

Intissare holds an engineering degree in financial modeling and scientific computing from MohammediaSchool of Engineering.

20

Mohcine El Fahri El FassiEquity Manager - RMAM

[email protected]

Mohcine joined the team of Red Med Asset Management in February 2013.Mohcine joined the team of Red Med Asset Management in February 2013.

Mohcine is in charge of the management of the RMAM's mutual funds as well asthe monitoring of moroccan financial markets (both fixed income and equities). Asan asset manager, he is involved in the production of analysis for stocks in theMoroccan stock exchange and the implementation of the management strategies.

Previously, Mohcine was responsible of the realization of advanced researchnotes within the preparation of the management committees.

Mohcine holds a master degree in finance from Institut des Hautes EtudesManagement (HEM) Rabat anddesignation from CFA Institute.

is preparing the Chartered Financial Analyst

23

4CREDENTIALS

4CREDENTIALS

CREDENTIALSAGRI FOOD SECTOR

CORPORATE FINANCE

Advisor to BRITISH Advisor to LA LAITIEREINVEST on the leveragedbuyout of BEST MILK.

AMERICAN TOBACCO for the Advisor to DELASSUS groupon the leveraged buyout ofDuroc (a Delassus subsidiary /

privatization of the tobacco Advisor to LA LAITIEREINVEST on the leveragedbuyout of BEST MILK.

Advisor to DELASSUS groupon the leveraged buyout ofDuroc (a Delassus subsidiary /

privatization of the tobaccoAuthority (MAD 10,2 Bn in bids).Advisor for its development production and marketing

cherry tomatoes).of

strategy in Morocco.

AGRICULTURALAND FISHING SECTORS RETAIL SECTOR

Advisor to L’AGENCE Advisor to L’AGENCE Advisor to HYPER SA for itspartial capital opening and

funding of its growth strategy.

Advisor to HYPER SA forNATIONALE POUR LEPOUR LE DEVELOPPEMENTAGRICOLE for the identification

of agricultural opportunities inthe agricultural sector.

its joint venture with GROUPECARREFOUR.

DEVELOPPEMENT DEL’AQUACULTURE as part of thecall for expressions of interest foraquaculture projects in theregion of Dakhla.

24

ENERGY, ENVIRONMENTAND MINING SECTORS

Advisor to ACWA POWER,Developer and operator ofthe Ouarazazate solar plantNoor 3 – (150 MW).

AdvisorPOWER,

Advisor to Advisor to ACWA POWER,Developer and operator of the

to ACWA ACWADeveloper and POWER, Developer and

operator of the Ouarzazate operator of the Ouarzazatesolar plant Noor 2 – (200MW).

KhalladiMW).

wind farm - (120solar plantMW).

Noor 1 – (160

Advisor to ACWA POWER,Developer and operator ofthe Ouarazazate solar plantNoor 3 – (150 MW).

operator of the Ouarzazatesolar plant Noor 2 – (200MW).

KhalladiMW).solar plant

MW).Noor 1 – (160

The world’s largest solar plant - (510 MW)

Advisor to MANAGEM for Advisor to BEATONA forfor the sale of its shares in

Advisor Advisor(subsidiaryEnvironement)

to AMENDIS forto CONNEXof Véoliaits development strategy. fund raising of 500 M Dhs.

the Moroccan recyclingfor itscompany SMRR.organic growth in Morocco.

25

TÉLECOMS / IT SECTORS

Advisor to VIVENDI forthe acquisition of 35% stakein Maroc Telecom, granting

AdvisorTELECOMacquisition

Advisorto MAROCthe

to TELECOM Advisor to INQUAM UK(a Qualcomm and Saudi Orgerfor ITALIA for the acquisition of

of both fixed the second mobile phone joint venture) for the

it control of the company and mobile telephone license in Morocco. acquisition of 3RP license init control of the company and mobile telephone license in Morocco. acquisition of 3RP license in

(MAD 23,3 Bn). licenses in Mali. Morocco andand debt.

raising its equity

Advisor to LUFTHANSAGEBÄUDEMANAGEMENT

Advisor to MOROCCANGOVERNMENT in definingand implementing its strategy

Advisor to GROUPEMIFA for the sale of its

telecommunications activities. IT-SERVICES for itsdevelopment in Morocco. for Maroc Telecom

privatization.

26

INSURANCE SECTOR PHARMACEUTICAL SECTOR

Advisor AdvisorstrategicAfrica.

Advisorto WAFAin

to MAMDA REdevelopment

inin

to HIKMA to Advisor to Promopharm SAin the sale of 64% stake HIKMA.ASSURANCE launch a public tender offer.

strategic development.

AdvisorstrategicAfrica.strategic development.

TRANSPORT SECTOR

Advisor to COMARIT forthe acquisition of COMANAVFERRY.

Advisor to COMARIT’s lead

shareholders for theacquisition of 55% stake inCOMARIT (MAD 700 millionstransaction).

27

CREDENTIALS RED MED ASSET MANAGEMENT

28

57, avenue Mehdi Ben Barka – Souissi RabatTel : +212 5 37 20 44 / +212 5 37 63 20 46

Fax : +212 5 37 63 98 15www.redmedfinance.com

Documents

A WORD FROM › wp-content › uploads › 2017 › 11 › Pres-R…ABOUT US RMF Red Med Finance (RMF) was founded in 2004 by Abdeslam ABABOU, an M&A professional with more than 25