Princess Private Equity (LSE:PEYS)
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De Abr 2020 a Jul 2020
RNS Number : 6284L
Princess Private Equity Holding Ltd
01 May 2020
Guernsey, 1 May 2020
Princess publishes March NAV
-- Princess Private Equity Holding Limited's (Princess) net asset value decreased by 14.1% to EUR 10.71 per share
-- Portfolio developments (-14.2%) and currency movements (-0.3%) were negative
-- Princess invested EUR 0.1 million during the month and received distributions of EUR 10.0 million
Further to the Company's announcement on 26 March 2020, the net asset value as at 31 March 2020 reflects the impact of Covid-19 on financial markets during March. In calculating the net asset value, the Investment Advisor conducted a rigorous bottom-up revaluation of the portfolio, taking into account the impact of the decline in the multiples of comparable companies, or other market data, used to value the Company's direct investments. Additionally, the Investment Advisor adjusted the valuations in the latest available reports from Princess' legacy third party fund investments (mainly dated Q3/Q4 2019) to reflect the declines observed in financial markets during March.
In conjunction with the publication of this report, the Company has published a statement which provides additional commentary on the largest portfolio exposures, the Company's liquidity position and guidance on the FY2020 dividend. This statement can be accessed via https://princess-privateequity.net/en/investor_relations/index.php .
Princess will hold its quarterly investor conference call on 12 May 2020 10:00 BST / 11:00 CET and will provide a detailed update on the recent portfolio developments. Please find the dial-in details on the Company's webpage.
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 USD 94 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).
Princess Private Equity Holding Limited:
Registered Number: 35241
Investor relations contact
Phone: +44 (0)20 7575 2771
Media relations contact
Phone: +44 207 575 2571
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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(END) Dow Jones Newswires
May 01, 2020 02:00 ET (06:00 GMT)