Princess Private Equity Holding Ltd Princess Private Equity publishes Q3 report 2018 (1390I)
22 November 2018 - 6:01PM
UK Regulatory
TIDMPEY TIDMPEYS
RNS Number : 1390I
Princess Private Equity Holding Ltd
22 November 2018
News Release
Guernsey, 22 November 2018
Princess publishes Q3 2018 interim report
Princess Private Equity Holding Limited ("Princess" or the
"Company") today published its interim report for the nine-month
period ended 30 September 2018. The key items were:
-- In the first nine months of 2018, Princess reported a NAV
total return of 9.3%, closing the period at EUR 11.44 per
share.
-- Princess declared a second interim dividend of EUR 0.28 per
share. The Company maintains its objective to distribute 5-8% of
opening NAV per annum.
-- Valuation developments (+11.9% YTD) were the key driver of
NAV growth. The largest contributors to Princess' NAV growth during
the third quarter were the direct investments in Action, Permotio
and Ceridian Corporation.
-- Princess received proceeds from exited investments totaling
EUR 103.3 million during the first nine months. EUR 71.3 million
stemmed from direct investments including the full exits of VAT
Group, Trimco International and Varsity Brands. The balance of EUR
32.0 million was received from Princess' legacy fund portfolio.
-- Princess invested a total amount of EUR 131.8 million over
the same period. EUR 129.0 million was invested in eight direct
equity investments (Megadyne - Ammeraal Beltech, GlobalLogic,
Techem, Hearthside Food Solutions, SRS Distribution, Amann
Girrbach, SHL and a partial re-investment in Trimco).
Richard Battey, Chairman, comments: "In the first nine months of
2018 Princess continued to develop positively, with performance
driven by strong EBITDA growth at portfolio company level. The
Investment Advisor agreed the exit of a number of direct
investments where value creation objectives had been achieved,
while the Company's mature legacy fund portfolio continued to
generate liquidity. It was also an active period for new
investments, with eight direct equity investments demonstrating the
breadth of Princess' global investment mandate. An investment in
the shares of the Company provides investors with exposure to a
well-diversified global portfolio of leading private companies, and
the Board believes that the portfolio remains well-positioned to
generate further value for shareholders."
Detailed analysis and commentary on the developments and
performance of Princess' portfolio over the first nine months of
2018 are presented in a 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:
https://www.morningstar.com/cefs/xlon/pey/quote.html
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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