TIDMPEY TIDMPEYS
RNS Number : 6076R
Princess Private Equity Holding Ltd
30 October 2023
(LSE: PEYS/PEY)
Princess Private Equity Holding Limited
Changes to Board composition
Princess Private Equity Holding Limited today announces the
following:
Mr Peter McKellar has accepted an invitation to join the Board
as Non-Executive Chair with effect from 23 November 2023, subject
to the necessary regulatory registrations in Guernsey.
Peter has extensive experience in the asset management,
investment company and private equity sectors. He is currently a
Non-Executive Director of 3i Group plc, the Deputy Chairman of
AssetCo plc, a Board Member of Scottish Enterprise, and the Vice
Chairman of Investcorp Europe Acquisition Corp 1. He was formerly
Global Head of Private Markets at Standard Life Aberdeen plc,
before which he led Standard Life Investments' private equity and
infrastructure business and was their Chief Investment Officer.
During his time at Standard Life Investments Peter led the listing
in 2001 and was then lead manager of Standard Life Private Equity
Trust (now called Abrdn Private Equity Opportunities) until 2015.
Prior to that, he held a variety of finance posts in industry and
corporate finance positions.
Neither Peter nor any connected party to Peter has any
beneficial interest in shares of the Company at the date of this
announcement.
There are no further details required to be disclosed pursuant
to section 9.6.13 of the UKLA Listing Rules.
Mr Henning von der Forst has notified the Board that, having
served as a Non-Executive Director since 2012, he intends, in line
with best practice for UK-listed companies, not to seek re-election
at the next AGM scheduled to be held in June 2024.
Fionnuala Carvill, Interim Chair, commented:
"Following the AGM in June, the Board announced that it had
initiated the necessary measures to recruit a successor Chair. We
are very pleased that this independent process has culminated in
Peter McKellar, who is eminently suited to the role, agreeing to be
appointed as Chair next month. The Board records its appreciation
for the support of major shareholders during this comprehensive
process."
Peter McKellar, Chair-elect, commented:
"I look forward to working with the Directors to build out and
further strengthen the Board, which we envisage will involve the
appointment of both UK and European nationals with complementary
and relevant skill sets.
Additionally, the Board is committed in the near term to working
with the Company's investment manager to enhance engagement with
current and prospective shareholders, and will establish a clear
and robust capital allocation policy appropriate to the Company's
investment strategy, portfolio liquidity, prevailing market
conditions, and particularly the dividend objective, which we
recognise is important to many Princess shareholders."
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 managed in its investment
activities by Partners Group, a global private markets investment
management firm with USD 142 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 Main Market of the London Stock Exchange
(ticker: PEY for the Euro Quote; PEYS for the Sterling Quote).
Contacts
Princess Private Equity Holding Limited:
princess@partnersgroup.com
www.princess-privateequity.net
Investor relations contact: Media relations contact:
Sarah Page Jenny Blinch
Phone: +44 20 7575 2695 Phone: +41 41 784 65 26
Email: sarah.page@partnersgroup.com E-mail: jenny.blinch@partnersgroup.com
Registered Number: 35241 LEI: 54930038LU8RDPFFVJ57
Notes:
1. Note that references in this announcement to Princess Private
Equity Holding Limited have been abbreviated to "Princess" or
"Company". References to Partners Group AG have been abbreviated to
"Partners Group " or "Investment Manager".
2. 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.
3. 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.
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END
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