Princess Private Equity Holding Ltd NAV increases by 2.1% (3939A)

TIDMPEY

RNS Number : 3939A

Princess Private Equity Holding Ltd

24 March 2017

News Release

Guernsey, 24 March 2017

NAV increases by 2.1%

-- Princess Private Equity Holding Limited's ("Princess") net asset value ("NAV") increased by 2.1% to EUR 10.49 per share

   --    Currency movements (+0.3%) as well as overall portfolio developments (+2.1%) were positive 

-- Princess received distributions of EUR 8.5 million and invested EUR 2.2 million over the reporting period

During the month of February, Princess invested a total of EUR 2.2 million, mainly serving capital calls from the legacy fund portfolio.

Distributions during February amounted to EUR 8.5 million of which EUR 1.3 million stemmed from the sale of shares in Food company 1 (name withheld due to confidentiality restrictions), a foodservice distributor based in the US, following its successful IPO on the NYSE in 2016. The remaining distributions of EUR 7.2 million came predominantly from Princess' mature legacy fund portfolio.

Princess' positive performance in February was mainly attributable to the company's investment in Dutch discount retailer Action, which was revalued following the publication of its financial results for 2016. Consolidated sales rose to EUR 2.675 million, up 34% compared to the previous year, while operating EBITDA increased by 37% to EUR 310 million. The growth was driven by a like-for-like sales increase of 6.9% and the opening of 197 new stores, taking the total number of stores to over 850. Action continues to expand internationally. The number of stores almost doubled in both France and Germany and the company opened a distribution center in Paris, its first outside the Netherlands. In 2017 the expansion is set to continue with the intention to open more new stores than in 2016.

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, a global private markets investment management firm with over EUR 54.2 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:

[e-mail]

www.princess-privateequity.net

Registered Number: 35241

Investor relations contact

George Crowe

Phone: [phone]

Email: [e-mail]

Media relations contact

Jenny Blinch

Phone: [phone]

Email: [e-mail]

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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

STRUORBRBBAOUAR

(END) Dow Jones Newswires

March 24, 2017 03:00 ET (07:00 GMT)