Spice Private Equity AG

Annual Report • Mar 16, 2017

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RNS Number : 7366Z

Princess Private Equity Holding Ltd

16 March 2017

News Release

Guernsey, 16 March 2017

Princess publishes Annual Report 2016

Princess Private Equity Holding Limited (Princess or the Company) today published its Annual Report for 2016. The key items were:

n Princess' audited net asset value (NAV) increased to EUR 10.16 per share. This represents an increase of 12.9% on a total return basis, adjusted for the total dividend of EUR 0.54 per share paid to shareholders. This equates to an annualized dividend yield of 5.7% of opening NAV for the year. Princess' share price increased to EUR 8.63 per share, representing a total shareholder return of 17.2% (adjusted for the total dividend) for the year 2016.

n Positive valuation developments were mainly responsible for the Company's NAV growth. The largest contributors to NAV growth in 2016 were Princess' direct investments including VAT Group AG, Action, KinderCare Education, MultiPlan (2014) and Hofmann Menue Manufaktur.

n During 2016, Princess invested EUR 69.6 million in nine new direct private equity and EUR 30.0 million in twelve new direct debt investments, bringing the allocation to direct investments to 76% of the portfolio value compared to 68% at the end of 2015. Overall, EUR 116.6 million was deployed which brought the investment level to 92.6% of NAV, against 93.5% at the start of the year.

n Throughout 2016, realization activity remained high, with Princess' portfolio generating record proceeds of EUR 185.5 million compared to EUR 130.7 million in 2015. 76% of the distributions came from the direct portfolio with the balance from the legacy fund portfolio.

Brian Human, Chairman, comments: "In 2016 Princess continued to implement its strategy to participate in direct equity and debt investments. The Investment Manager for Princess, Partners Group, maintains a global relative value investment approach across geographies and industries. The Board regards the healthy performance of the portfolio as evidence of the validity of this approach. Highlights were the record distributions during the year, for example the exits of MultiPlan and Strategic Partners, both of which generated a multiple of over 3x cost. It's my belief that the progress made in 2016 will continue through the coming years and that Princess will create further value for shareholders."

A detailed analysis and commentary on the development of Princess during 2016 is presented in the Annual Report published today, which can be accessed via: http://www.princess-privateequity.net/financialreports

A copy of the report has also 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 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@princess-privateequity.net

www.princess-privateequity.net

Registered Number: 35241

Investor relations contact

George Crowe

Phone: +44 (0)20 7575 2771

E-mail: george.crowe@partnersgroup.com

Media relations contact

Partners Group

Jenny Blinch

Phone: +41 41 784 65 26

E-mail: 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 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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