Princess Private Equity Holding Ltd Dividend announcement and Q1 report (3313O)

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:

[e-mail]

www.princess-privateequity.net

Registered Number: 35241

LEI: 54930038LU8RDPFFVJ57

Investor relations contact

George Crowe

Phone: [phone]

E-mail: [e-mail]

Media relations contact

Jenny Blinch

Phone: [phone]

E-mail: [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 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

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May 17, 2018 02:00 ET (06:00 GMT)