TIDMPIN
RNS Number : 3280M
Pantheon International PLC
23 May 2022
23 May 2022
For immediate release
The information contained in this announcement is restricted and
is not for publication, release or distribution in the United
States of America, Canada, Australia (other than to persons who are
both wholesale clients and professional or sophisticated investors
in Australia), Japan, the Republic of South Africa or any other
jurisdiction where its release, publication or distribution is or
may be unlawful.
Pantheon International Plc
("PIP" or the "Company")
Performance Update at 30 April 2022
Performance Update at 30 April 2022
447.4p NAV per share
+3.8% NAV per share movement for the month
GBP2.4bn Net asset value
GBP6.9m Net portfolio cash flow*
3.7x Financing cover**
+81% Total shareholder return (5Y)***
Month to 30 April 2022
PIP announced an unaudited net asset value ("NAV") per share as
at 30 April 2022 of 447.4p, an increase of 16.4p (+3.8%) from the
NAV per share as at 31 March 2022.
In the month to 30 April 2022, valuation gains* were +5.8p
(+1.3%), investment income* added +0.4p (+0.1%), foreign exchange
movements* were +10.4p (+2.4%), share buybacks added +0.3p (+0.1%)
and expenses and taxes**** were -0.5p (-0.1%).
PIP's valuation policy for private equity funds is based on the
latest valuations reported by the managers of the funds in which
PIP has holdings. In the case of PIP's valuation as at 30 April
2022, 13% of reported valuations are dated 30 April 2022, 6% are
dated 31 March 2022, 78% are dated 31 December 2021 and 3% are
dated 30 September 2021. Of the 13% of valuations dated 30 April
2022, 11% reflect the mark to market fair value adjustment for
PIP's listed company holdings.
At 30 April 2022, PIP's private equity assets stood at
GBP2,249m, whilst net available cash balances^ were GBP208m. The
Asset Linked Note^^ ("ALN") outstanding as at 30 April 2022
amounted to GBP50m. Undrawn commitments to investments stood at
GBP752m as at 30 April 2022, calculated using exchange rates at
that date. PIP's multi-currency revolving credit facilities
comprise a US$269.8m facility and a EUR101.6m facility, which
remained undrawn as at the month end.
PIP made GBP29.7m of new commitments during the month which were
to one primary (GBP11.4m), two secondaries (GBP9.2m) and one
co-investment (GBP9.1m). These included:
-- An GBP11.4m primary commitment to Hg Genesis 10, a European
buyout fund focused on the software and services sectors.
-- A GBP9.1m co-investment alongside Ergon Capital Partners in
Satlink, a Spanish provider of satellite-based devices and services
for the sustainable fishing industry.
-- A GBP5.2m single asset secondary commitment to an Australian food services company.
PIP also invested GBP4.3m in share buybacks during the period,
acquiring 1,351,280 shares at a weighted average price of 315.8p
per share. This price represented a discount of 25% to the
prevailing NAV per share at the time of the transactions.
*Figures are stated net of movements associated with the ALN
share of the reference portfolio. Valuation movement includes the
mark to market fair value adjustment of listed company
holdings.
**Ratio of net available cash, portfolio value and undrawn loan
facility to outstanding commitments.
***Based on the change in the ordinary share price over the
period.
****Withholding taxes on investment distributions.
^Net available cash calculated as cash and net current assets /
(liabilities) less undistributed net cashflows associated with the
ALN.
^^Unlisted 10-year note issued on 31 October 2017 whose cost and
repayments are linked to a reference portfolio consisting of the
Company's older vintage funds.
Performance as at 30 April 2022 ^^^
1 Year 3 Years 5 Years 10 Years Since Inception
(%p.a.) (% p.a.) (% p.a.) (% p.a.) (% p.a.)
NAV TR per share 33.5% 19.8% 16.3% 14.7% 12.4%
Ordinary share price 19.2% 13.5% 12.6% 15.2% 11.5%
FTSE All-Share TR 8.7% 4.5% 4.8% 7.2% 7.6%
MSCI World (GBP)
TR 6.9% 12.4% 11.4% 13.5% 8.4%
^^^PIP was launched on 18 September 1987. The performance
figures for PIP assume reinvestment of dividends, capital.
Monthly Report
The April monthly newsletter can be accessed on PIP's website at
www.piplc.com in the Investor Relations section under the heading
"Newsletters".
This announcement contains inside information.
Ends
LEI: 2138001B3CE5S5PEE928
For more information please visit PIP's website at www.piplc.com
or contact:
Pantheon
Helen Steers / Vicki Bradley
020 3356 1800
Follow us on LinkedIn: https://www.linkedin.com/company/pantheon-international-plc
NOTES
PIP
PIP is a listed FTSE 250 private equity investment trust,
overseen by an independent Board of Directors and managed by
Pantheon, one of the leading private equity investment managers
globally. PIP offers investors a liquid, differentiated entry point
to the excellent growth potential of global private equity, with
access to the primary, secondary and co-investment opportunities of
some of the best managers in the world. The Company has a track
record of outperformance and manages risk through diversification
and rigorous selection based on Pantheon's extensive experience and
international platform.
Pantheon
PIP is managed and advised by Pantheon, a leading global private
equity, infrastructure & real assets and private debt investor
with 40 years' experience sourcing and executing private market
investment opportunities on behalf of clients. Pantheon has $84.6
billion in AUM ^^^^ (as at 31 December 2021) and employs
approximately 402 staff including 118 investment professionals
across offices in London, San Francisco, New York, Chicago, Hong
Kong, Seoul, Bogotá, Tokyo, Dublin and Berlin.
^^^^ This figure includes assets subject to discretionary or
non-discretionary management, advice or those limited to a
reporting function.
Important Information
A copy of this announcement will be available on the Company's
website at www.piplc.com . Neither the content of the Company's
website, nor the content on any website accessible from hyperlinks
on its website for any other website, is incorporated into, or
forms part of, this announcement nor, unless previously published
by means of a recognised information service, should any such
content be relied upon in reaching a decision as to whether or not
to acquire, continue to hold, or dispose of, securities in the
Company.
Sir Laurie Magnus CBE
Chairman, Pantheon International Plc
Beaufort House, 51 New North Road, Exeter, Devon, EX4 4EP
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDSELFISEESELI
(END) Dow Jones Newswires
May 23, 2022 02:00 ET (06:00 GMT)
Pantheon (LSE:PIN)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Pantheon (LSE:PIN)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024