PEYS Princess Private Equity Holding Limited

TIDMPEY TIDMPEYS

RNS Number : 9364S

Princess Private Equity Holding Ltd

22 March 2021

   News   Release 

Guernsey, 22 March 2021

Princess publishes Annual Report 2020

Princess Private Equity Holding Limited ("Princess" or the "Company") today published its Annual Report for 2020. The key items were:

-- Net asset value ("NAV) increased to EUR 13.35 per share, representing a total return of +10.0% for the year.

   --      Share price total return over the same period was +12.4%. 

-- Princess paid a total dividend of EUR 0.435 per share during the year, equivalent to 3.5% of opening NAV, and provided guidance that from 2021 onwards it intends to distribute 5% of opening NAV via semi-annual payments.

-- Investment activity totalled EUR 64.6 million comprising new investments in EyeCare Partners, eResearch Technology, AlliedUniversal and Rovensa, as well as add-on investments in several portfolio companies to finance M&A activity.

-- Realizations amounted to EUR 178.2 million, including the full exit of Action and partial exit of PCI Pharma Services.

Richard Battey, Chairman comments: "The COVID-19 pandemic presented a challenging environment for Princess and its portfolio companies during 2020. Reflecting the uncertain outlook in the first half of the year the Board, acting on the advice of the Investment Manager, took the decision to pay a reduced first interim dividend in order to preserve liquidity. Ultimately, the majority of portfolio companies proved to be resilient and were able to grow earnings despite the imposition of government restrictions on the economy. The robust performance of the portfolio and the re-opening of capital markets in the second half of the year gave the Board confidence to increase the second interim dividend to its prior level and to provide dividend guidance for 2021. After what has been an extraordinary year, my fellow Directors and I thank you for the continued trust you have shown in Princess. While it is likely that the COVID-19 pandemic will continue to cause disruption for some time, I remain confident that Princess' portfolio is well positioned to continue on its growth trajectory in 2021 and beyond."

A detailed analysis and commentary on the developments of Princess during 2020 is presented in the Annual Report published today, which can be accessed via: https://www.princess-privateequity.net/en/investor-relations/financial-reports/

A copy of the above document has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

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 managed in its investment activities by Partners Group, a global private markets investment management firm with USD 109 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 Main Market of the London Stock Exchange (ticker: PEY for the Euro Quote; PEYS for the Sterling Quote).

Contacts

Princess Private Equity Holding Limited:

princess@partnersgroup.com

www.princess-privateequity.net

Registered Number: 35241

LEI: 54930038LU8RDPFFVJ57

Investor relations contact

George Crowe

Phone: +44 207 575 2771

Email: george.crowe@partnersgroup.com

Media relations contact

Jenny Blinch

Phone: +44 207 575 2571

Email: 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. 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 are 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.

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