Princess Private Equity Holding Ltd NAV increases by 2.1% (3939A)
March 24 2017 - 3:00AM
UK Regulatory
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:
princess@partnersgroup.com
www.princess-privateequity.net
Registered Number: 35241
Investor relations contact
George Crowe
Phone: +44 (0)20 7575 2771
Email: george.crowe@partnersgroup.com
Media relations contact
Jenny Blinch
Phone: +41 41 784 65 26
Email: jenny.blinch@partnersgroup.com
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
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