2nd Nov 2022 11:25
Princess Private Equity Holding Ltd - Guernsey-based investment holding company - Suspends its second interim dividend for 2022. Explains the suspension was deemed necessary in light of the "significant" reduction in the company liquidity due to the strengthening of the US dollar against the euro. Says this led to outlooks of more than EUR60 million in the year-to-date to settle currency hedging contracts. Adds that challenging debt market are also limiting the facilitation of asset sales across the industry.
Company emphasises it has sufficient liquidity to meet its commitments, with a cash position, including senior loans, of EUR59.8 million at October 31.
Current stock price: EUR8.22, down 14% in London on Wednesday morning
12-month change: down 40%
By Heather Rydings; [email protected]
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