Princess Private Equity Holding Ltd Dividend announcement and Q1 report (3313O)
May 17 2018 - 1:00AM
UK Regulatory
TIDMPEY TIDMPEYS
RNS Number : 3313O
Princess Private Equity Holding Ltd
17 May 2018
News Release
Guernsey, 17 May 2018
Princess announces interim dividend and publishes first quarter
2018 report
The Board of Directors of Princess Private Equity Holding
Limited ("Princess" or the "Company") announces a first interim
dividend of EUR 0.28 per share for the 2018 calendar year. Princess
today published its first quarter report for the period ended 31
March 2018. The key items were:
-- Princess' net asset value ("NAV") increased to EUR 10.93 per
share, representing a total return of +1.8% YTD.
-- Valuation developments (+2.9% YTD) were the key driver of NAV
growth, while currency movements had negative impact (-0.4% YTD).
The largest contributors to Princess' NAV growth during the first
quarter were the direct investments in Action, Permotio and
KinderCare Education.
-- Realizations in the first quarter totaled EUR 60.4 million,
including EUR 19.4 million from the sale of Trimco, EUR 12.4
million proceeds from VAT Group AG and EUR 9.1 million from
Princess' legacy fund portfolio.
-- During the first quarter, Princess invested a total of EUR
19.5 million, including co-investments in SHL and Trimco.
Brian Human, Chairman, comments: "After an active year in 2017,
Princess is now firmly established as a leading direct investment
fund focused on investing in companies in the mid-cap buyout
segment with value generation potential. The first quarter of 2018
saw further evidence of the evolution of Princess with 85% of
distributions received being generated by direct investments, which
now account for 82% of the portfolio. Princess took advantage of
the supportive exit market environment in the quarter to realize
assets and crystallize value on behalf of shareholders. It
continues to be our intention to pay an attractive dividend of 5-8%
of NAV per annum and the Board is pleased to announce a first
interim dividend of EUR 0.28 per share."
The first interim dividend for the year will be paid on 13 July
2018. The relevant date for the entitlement to the dividend (record
date) will be 8 June 2018 and the corresponding ex-dividend date
will be 7 June 2018. The Company intends to pay dividends
semi-annually following the publication of the quarterly reports as
of 31 March and 30 September.
Detailed analysis and commentary on the developments and
performance of Princess' portfolio over the first three months of
2018 is presented in a quarterly 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:
http://www.hemscott.com/nsm.do
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 61.9 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 company news service from the London Stock Exchange
END
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