29th Jan 2013 14:04
News Release
Guernsey, 29 January 2013
Princess announces the December NAV and will hold its quarterly conference call today at 3pm GMT / 4pm CET
The net asset value (NAV) of Princess Private Equity Holding Limited (Princess, or the Company) increased by 0.1% in December to EUR 8.40 per share, adjusted for the interim dividend of EUR 0.25 per share that was paid out to shareholders on 19 December 2012. Over the month, underlying company holdings continued to perform well. However, overall NAV performance was tempered by adverse currency movements as the US dollar's depreciation against the euro had a negative impact on returns from US investments.
Net cash flows were positive for the month, further strengthening the Company's liquidity position, as distributions (EUR 8.1 million) from Princess' mature portfolio continued to exceed new investments (EUR 4.4 million). A key contributor to distribution proceeds in December was Ziggo, the leading Dutch cable operator. Following the completion of a successful secondary share offering in July, Ziggo recently held a further secondary offering, where 37 million shares were sold at a price of EUR 24.75 each, representing a 34% premium over Ziggo's IPO price in March 2012.
As part of the strategic repositioning of the portfolio to focus on direct investments, Princess made a direct investment in Grupo SBF, the leading sporting goods retailer in Brazil, in December. Grupo SBF manages more than 200 stores throughout the country, as well as online channels, under brands such as Centauro, By Tennis, Nike Store and Almax. It is uniquely positioned to benefit from the expanding middle class in Brazil and from the upcoming sporting events taking place in the country, including the 2014 FIFA World Cup and the 2016 Summer Olympics. Princess and its investment partners seek to assist the company's growth by expanding existing store sales and e-commerce turnover as well as via the roll-out of new stores.
On 6 December 2012 the Company's de-listing from the Frankfurt Stock Exchange became effective, meaning that trading activity is now consolidated solely on the London Stock Exchange.
Princess will hold a conference call today, 29 January 2013, at 4pm CET (3pm GMT) to update interested parties on the recent developments of the Princess portfolio. The information announced will refer to unaudited figures as of 31 December 2012.
Date: Tuesday, 29 January 2013
Time: 3pm-4pm (Dublin, London)
4pm-5pm (Zurich, Frankfurt)
Phone numbers: +44 (0) 203 059 58 62 (from the UK)
+41 (0) 91 610 56 00 (from Continental Europe)
+1 (1) 866 291 41 66 (from the US)
All lines will be open ten minutes prior to the beginning of the conference call.
The results presentation is available at http://www.princess-privateequity.net/en/investor_relations/web_cast_live-events.php?ml
Further information is available in the monthly report which can be accessed via:
http://www.princess-privateequity.net/financialreports.
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 AG, a global private markets investment management firm with over EUR 28 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 symbol: PEY). Further information: www.princess-privateequity.net
Contacts
Princess Private Equity Holding Limited:
www.princess-privateequity.net
Registered Number: 35241
Media enquiries:
Partners Group AG
Dr. Anna Hollmann
Communications
Tel.: +41 41 768 83 72
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 Holding Limited. 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.
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