PEYS Princess Private Equity Holding Limited

TIDMPEY TIDMPEYS

RNS Number : 0222U

Princess Private Equity Holding Ltd

20 November 2019

News Release

Guernsey, 20 November 2019

Princess publishes Q3 2019 interim report

Princess Private Equity Holding Limited ("Princess" or the "Company") today published its interim report for the nine-month period ended 30 September 2019. The key items were:

-- In the first nine months of 2019, Princess achieved a NAV total return of 14.4%, closing the period at EUR 12.16 per share.

   --      Princess reported a share price total return of +19.1% over the same period. 

-- Valuation developments (+17.2% YTD) were the key driver of NAV growth. The largest contributors to Princess' NAV growth during the third quarter were the investments in Permotio, Action, Foncia and KinderCare.

-- Princess received proceeds from exited investments totaling EUR 59.7 million during the first nine months. EUR 34.2 million stemmed from direct investments including the full exit of Agiliti and the further sale of shares of Ceridian HCM. The balance of EUR 25.5 million was received from Princess' legacy fund portfolio. Post period-end, the full realizations of Action and Vermaat were agreed.

-- Princess invested a total amount of EUR 42.0 million over the same period. EUR 31.2 million was invested in six direct equity investments (Convex Group, Idera, Confluent Health, Blue River PetCare, BCR Group, Schleich).

-- Post period-end, Princess declared a second interim dividend of EUR 0.29 per share (2018 second interim dividend: EUR 0.28 per share). The Company maintains its objective to distribute 5-8% of opening NAV per annum.

Richard Battey, Chairman, comments: "In the first nine months of 2019 Princess continued to develop positively, with the Company's largest portfolio companies being the key drivers of performance. An investment in the shares of the Company provides investors with exposure to a well-diversified global portfolio of leading private companies. Following the positive NAV performance, and reflecting its confidence in the prospects for the portfolio, the Board announced an increased second interim dividend for the year. 2019 represents the ninth successive year of dividend payments and the Board is pleased to re-affirm its commitment to the dividend policy, which it recognizes is an important element of Princess' investment proposition for shareholders."

Detailed analysis and commentary on the developments and performance of Princess' portfolio over the first nine months of 2019 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 80 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.

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