Princess Private Equity Holding Ltd Princess publishes Half-Year Report 2017 (2002Y)
18 August 2018 - 12:00AM
UK Regulatory
TIDMPEY TIDMPEYS
RNS Number : 2002Y
Princess Private Equity Holding Ltd
17 August 2018
News Release
Guernsey, 17 August 2018
Princess publishes Half-Year report 2018
Princess Private Equity Holding Limited ("Princess" or the
"Company") today published its Half-Year Report for 2018. The key
items were:
-- In the first half of 2018, Princess reported an NAV total
return of 5.7%, closing the period at EUR 11.06 per share.
-- Princess declared a first interim dividend of EUR 0.28 per
share. The Company maintains its objective to distribute 5-8% of
NAV per annum.
-- Valuation developments (+7.5% YTD) were the key driver of NAV
growth. The largest contributors to Princess' NAV growth during the
second quarter were the direct investments in Ceridian Corporation,
Permotio and Varsity Brands.
-- Princess received proceeds from exited investments totaling
EUR 83.1 million. EUR 60.6 million stemmed from direct investments,
the largest contributors being the full exits of VAT Group and
Trimco at multiples 6.0x and 3.4x cost respectively. The balance of
EUR 22.5 million was received from Princess' legacy fund
portfolio.
-- Princess invested a total amount of EUR 66.5 million. EUR
52.6 million was invested in five direct equity investments
(Hearthside Food Solutions, SRS Distribution, Amann Girrbach, SHL
and a partial re-investment in Trimco).
Brian Human, Chairman, comments: "In the first six months of
2018 Princess continued to develop positively. The Company's global
portfolio of leading private companies continued to trade well,
with a number of investments contributing to NAV performance. It
was an active period for both new investments and realizations,
notably the exits of VAT Group and Trimco, which both generated
significant value for shareholders during Princess' period of
ownership."
Detailed analysis and commentary on the developments and
performance of Princess' portfolio over the first half of 2018 are
presented in a quarterly report published today. The report can be
accessed via:
http://www.princess-privateequity.net/en/investor_relations/reports.php
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 67.1 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 symbols: PEY for the Euro quote; PEYS for the Sterling
quote).
Contacts
Princess Private Equity Holding Limited:
princess@princess-privateequity.net
www.princess-privateequity.net
Registered Number: 35241
LEI: 54930038LU8RDPFFVJ57
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 Private Equity Holdings. 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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