PEY Princess Private Equity Holding Limited

TIDMPEY TIDMPEYS

RNS Number : 5201I

Princess Private Equity Holding Ltd

13 August 2021

   News   Release 

Guernsey, 13 August 2021

Princess publishes Half-Year Report 2021

Princess Private Equity Holding Limited ("Princess" or the "Company") today published its Half-Year Report for 2021. The key items were:

-- Net asset value ("NAV") increased to EUR 15.24 per share, representing a total return of +16.7% including the first interim dividend.

   --      Share price total return over the same period was +9.8%. 

-- The first interim dividend of EUR 0.335 per share was paid to shareholders in June, in line with the objective to distribute 5% of opening NAV for each financial year, via semi-annual payments in June and December.

-- Valuation developments (+19.6%) were the key driver of NAV growth, while currency effects were slightly negative. The largest contributors to Princess' NAV growth were the investments in GlobalLogic, International Schools Partnership and SRS Distribution.

-- Princess received distributions amounting to EUR 99.0 million during the first six months of 2021. EUR 92.7 million stemmed from direct investments, including proceeds from the sale of Cerba HealthCare, the exit of a minority position in Idera, and a dividend from Foncia. The balance of EUR 6.3 million was received from the Company's mature legacy fund portfolio.

-- Investment activity totalled EUR 61.9 million including new investments in Telepass, Careismatic Brands, Wedgewood Pharmacy, Axia Women's Health, Ecom Express and a reinvestment in Idera.

Richard Battey, Chairman comments: "In the first six months of 2021 Princess continued to develop positively, with a number of investments contributing to NAV performance. It was an active period for both new investments and realizations, while the Company's mature legacy fund portfolio continued to generate liquidity. Following a recovery in market transaction volumes from the lows of 2020, further portfolio activity is expected in the second half of the year. In this supportive market environment, the Investment Manager continues to explore options to crystallize value on behalf of shareholders, and to redeploy capital into new investment opportunities to generate future NAV growth. "

A detailed analysis and commentary on the developments of Princess during H1 2021 is presented in the Half-Year 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 119 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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August 13, 2021 02:00 ET (06:00 GMT)

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