Princess Private Equity Holding Ltd Princess Private Equity publishes Q3 report 2018 (1390I)

TIDMPEY TIDMPEYS

RNS Number : 1390I

Princess Private Equity Holding Ltd

22 November 2018

News Release

Guernsey, 22 November 2018

Princess publishes Q3 2018 interim report

Princess Private Equity Holding Limited ("Princess" or the "Company") today published its interim report for the nine-month period ended 30 September 2018. The key items were:

-- In the first nine months of 2018, Princess reported a NAV total return of 9.3%, closing the period at EUR 11.44 per share.

-- Princess declared a second interim dividend of EUR 0.28 per share. The Company maintains its objective to distribute 5-8% of opening NAV per annum.

-- Valuation developments (+11.9% YTD) were the key driver of NAV growth. The largest contributors to Princess' NAV growth during the third quarter were the direct investments in Action, Permotio and Ceridian Corporation.

-- Princess received proceeds from exited investments totaling EUR 103.3 million during the first nine months. EUR 71.3 million stemmed from direct investments including the full exits of VAT Group, Trimco International and Varsity Brands. The balance of EUR 32.0 million was received from Princess' legacy fund portfolio.

-- Princess invested a total amount of EUR 131.8 million over the same period. EUR 129.0 million was invested in eight direct equity investments (Megadyne - Ammeraal Beltech, GlobalLogic, Techem, Hearthside Food Solutions, SRS Distribution, Amann Girrbach, SHL and a partial re-investment in Trimco).

Richard Battey, Chairman, comments: "In the first nine months of 2018 Princess continued to develop positively, with performance driven by strong EBITDA growth at portfolio company level. The Investment Advisor agreed the exit of a number of direct investments where value creation objectives had been achieved, while the Company's mature legacy fund portfolio continued to generate liquidity. It was also an active period for new investments, with eight direct equity investments demonstrating the breadth of Princess' global investment mandate. An investment in the shares of the Company provides investors with exposure to a well-diversified global portfolio of leading private companies, and the Board believes that the portfolio remains well-positioned to generate further value for shareholders."

Detailed analysis and commentary on the developments and performance of Princess' portfolio over the first nine months of 2018 are presented in a 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: https://www.morningstar.com/cefs/xlon/pey/quote.html

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 67.1 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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November 22, 2018 02:01 ET (07:01 GMT)