Equus II Incorporated Announces Increase in Net Assets for Second Quarter
August 11 2006 - 6:29PM
PR Newswire (US)
HOUSTON, Aug. 11 /PRNewswire-FirstCall/ -- Equus II Incorporated
(NYSE:EQS) ("Equus" or the "Fund") reports net assets as of June
30, 2006, of $84.3 million, equivalent to $10.40 per share or a 5%
increase from the first quarter of 2006 and a 4% increase from the
end of 2005 after the effect of the $2.50 per share dividend
declared on February 2, 2006. Comparative data is summarized below:
6/30/06 3/31/06 12/31/05 6/30/05 Net assets $84,307,330 $80,065,212
$92,602,338 $84,103,763 Shares outstanding 8,106,365 8,106,365
7,376,592 7,376,592 Net assets per share $10.40 $9.88 $12.55 $11.40
Significant events for the second quarter, 2006 are as follows: *
Portfolio Company Increase. Drilltec Corporation, Jones Industrial
Holdings, Inc., PalletOne, Inc. and Sovereign Business Forms, Inc.
collectively increased approximately $5 million in value due to
improved operating performance. These portfolio companies comprise
approximately 46% of the Fund. Of the $5 million increase, Drilltec
Corporation represented an increase of approximately $2.5 million
or 31 cents per share due to continued improving operating
performance. * Financial Advisor. The Fund has engaged AG Edwards,
Inc. to provide strategic financial advisory services to the Fund.
"We are pleased with the results of the first year under the new
management company of Moore Clayton Capital Advisors," commented
Anthony R. Moore, Co-Chairman, CEO and President of Equus.
"Investments have been made in the real estate and family
entertainment and leisure sectors, which are representative of the
Fund's new millennium investment strategy. We continue to realize
value from some of the Fund's historical investments which is
reflected in the increase of net assets. As our primary focus
remains on enhancing shareholder value, we will seek to provide the
highest total return consisting of capital appreciation and current
income. We are excited about the future." Equus is a business
development company that trades as a closed-end fund on the New
York Stock Exchange, under the symbol "EQS". Additional information
on Equus may be obtained from the website at
http://www.equuscap.com/ . This press release may contain certain
forward-looking statements regarding future circumstances. These
forward-looking statements are based upon the Company's current
expectations and assumptions and are subject to various risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements
including, in particular, the risks and uncertainties described in
the Company's filings with the Securities and Exchange Commission.
Actual results, events, and performance may differ. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as to the date hereof. The Company
undertakes no obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Company or any
other person that the events or circumstances described in such
statements are material. CONTACT: Brett Chiles (713) 529-0900
DATASOURCE: Equus II Incorporated CONTACT: Brett Chiles of Equus II
Incorporated, +1-713-529-0900 Web site: http://www.equuscap.com/
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