Princess Private Equity Holding Ltd Princess publishes Q3 2016 report (2600P)
16 November 2016 - 6:00PM
UK Regulatory
TIDMPEY
RNS Number : 2600P
Princess Private Equity Holding Ltd
16 November 2016
News Release
Guernsey, 16 November 2016
Princess announces dividend payment and publishes Q3 2016
report
The Board of Directors of Princess Private Equity Holding
Limited (Princess or the
Company) is pleased to announce a second dividend of EUR 0.27
per share for the 2016 calendar year. Total dividends for the year
are EUR 0.54 per share, including the interim dividend of EUR 0.27
per share distributed in June. This translates into a dividend
yield of 5.3% of NAV (as of 30 September 2016) and a yield of 6.4%
on Princess' share price, based on yesterday's closing price on the
London Stock Exchange.
The second dividend for the year will be paid on 16 December
2016. The relevant date for the entitlement to the dividend (record
date) will be 25 November 2016 and the corresponding ex-dividend
date will be 24 November 2016. The Company intends to pay dividends
semi-annually following the publication of the quarterly reports as
of 31 March and 30 September.
In addition, Princess today published its interim report for the
nine-month period ended 30 September 2016. The key items were:
n Princess' net asset value (NAV) increased to EUR 10.16 per
share, representing a total return of +9.9% YTD, adjusted for the
first interim dividend of EUR 0.27 per share.
n Successful implementation of value creation strategies at
portfolio company level continued to foster strong revenue and
EBITDA growth. Consequently, valuation developments (+12.4% YTD)
were responsible for the NAV growth. Currency movements negatively
impacted the NAV (-1.0% YTD).
n The largest contributors to Princess' NAV growth during the
third quarter were the direct investments in VAT Group AG and
Action.
n During the third quarter, Princess invested a total amount of
EUR 41.1 million, including buyouts of Foncia and PCI Pharma
Services, co-investment in Polyconcept and private debt investment
in Cegid Group SA. In total, Princess has invested EUR 88.8 million
YTD.
n Realizations in the third quarter totaled EUR 28.3 million,
including EUR 3.8 million from the recapitalization of Trimco
International and EUR 5.3 million from the refinancing of Essmann.
In total, Princess' portfolio has generated EUR 157.6 million of
realizations YTD.
Brian Human, Chairman, comments: "With the ongoing positive
trading performance of Princess' portfolio companies the Board
remains confident that Princess is well-positioned to continue to
create value for shareholders. The Company has enjoyed an
exceptional period of exit activity during the first nine months of
2016, generating sufficient liquidity to fund dividend payments and
to re-deploy capital in new investments that the Board expects to
drive returns for Princess' shareholders in the years to come."
Detailed analysis and commentary on the developments and
performance of Princess' portfolio over the first nine months of
2016 will be presented in a quarterly report published today. The
report can be accessed via:
http://www.princessprivateequity.net/financialreports
A copy of the above document has been submitted to the National
Storage Mechanism and will shortly be available for inspection at:
http://www.Hemscott.com/nsm.do
Ends.
About Princess
Princess is an investment holding company founded in 1999 and
domiciled in Guernsey. It invests, inter alia, in private equity
and private debt investments. Princess is advised in its investment
activities by Partners Group, a global private markets investment
management firm with over EUR 49 billion in investment programs
under management in private equity, private debt, private real
estate and private infrastructure. Princess aims to provide
shareholders with long-term capital growth and an attractive
dividend yield. Princess is traded on the London Stock Exchange
(ticker symbol: PEY). Further information:
www.princess-privateequity.net.
Contacts
Princess Private Equity Holding Limited:
princess@princess-privateequity.net
www.princess-privateequity.net
Registered Number: 35241
Investor relations contact
George Crowe
Phone: +44 (0)20 7575 2771
E-mail: george.crowe@partnersgroup.com
Media relations contact
Jenny Blinch
Phone: +41 41 784 65 26
E-mail: Jenny.Blinch@partnersgroup.com
www.partnersgroup.com
This document does not constitute an offer to sell or a
solicitation of an offer to buy or subscribe for any securities and
neither is it intended to be an investment advertisement or sales
instrument of Princess. The distribution of this document may be
restricted by law in certain jurisdictions. Persons into whose
possession this document comes must inform themselves about, and
observe any such restrictions on the distribution of this document.
In particular, this document and the information contained therein
is not for distribution or publication, neither directly nor
indirectly, in or into the United States of America, Canada,
Australia or Japan.
This document may have been prepared using financial information
contained in the books and records of the product described herein
as of the reporting date. This information is believed to be
accurate but has not been audited by any third party. This document
may describe past performance, which may not be indicative of
future results. No liability is accepted for any actions taken on
the basis of the information provided in this document. Neither the
contents of Princess' website nor the contents of any website
accessible from hyperlinks on Princess' website (or any other
website) is incorporated into, or forms part of, this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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