News Release
Guernsey, 26 July 2012
Princess NAV up 0.4% in June / quarterly conference call held today
The net asset value (NAV) of Princess Private Equity Holding Limited (Princess, or the Company) increased by 0.4% in June to EUR 9.03 per share, which also represents an NAV gain of 5.2% for the first half of 2012. This performance builds upon the 25% NAV growth achieved by Princess over the two previous years.
Portfolio developments positively impacted NAV (+1.5%) over the month, as underlying company holdings delivered healthy operational performances, and investments were successfully exited above their previous carrying values. Negative currency effects (-0.9%) however curtailed positive valuation developments in June, as the US dollar gave up some of its strong relative performance against the euro in May.
On aggregate, the mature Princess portfolio generated strong distribution proceeds of EUR 18.7 million, in excess of the EUR 5.1 million in capital calls received over the month. The bulk of distribution proceeds in June were attributable to the portfolio's exit from the US-based confectionary company Farley's and Sathers Candy (Farley's), as well as from the sale of Lifeways Community Care, a UK healthcare operator. Prior to this exit, Lifeways was Princess' third largest portfolio company holding.
Princess will hold an investor conference call today at 9:00am BST to update interested parties on the recent developments of the Princess portfolio. The information announced will refer to unaudited figures as of 30 June 2012.
Date: Thursday, 26 July 2012
Time: 09:00-10:00am (Dublin, London)
10:00-11:00am (Zurich, Frankfurt)
Phone number: +44 (0) 203 059 58 62 (from the UK)
+41 (0) 91 610 56 00 (from Continental Europe)
+1 (1) 866 291 41 66 (from the US)
All lines will be open ten minutes prior to the beginning of the conference call.
The results presentation will be available at http://www.princess-privateequity.net/en/investor_relations/web_cast_live-events.php?ml ahead of the conference call.
Further information is available in the monthly report which can be accessed via:
http://www.princess-privateequity.net/financialreports
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 AG, a global private markets investment management firm with EUR 27 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 Frankfurt Stock Exchange (ticker symbol: PEY1) and 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
Jan-Frederik Modell
Phone: +44 (0)20 7575 2753
E-mail: jan-frederik.modell@partnersgroup.com
Media relations contact
Partners Group AG
Dr. Anna Hollmann
Phone: +41 41 784 63 72
E-mail: anna.hollmann@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 Holding Limited. 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.