Princess Private Equity Holding Ltd Princess publishes Annual Report 2020 (9364S)
March 22 2021 - 2:00AM
UK Regulatory
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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END
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