Princess Private Equity Holding Ltd Princess Q3 2023 Updates (3831U)
23 Novembre 2023 - 10:00AM
UK Regulatory
TIDMPEY TIDMPEYS
RNS Number : 3831U
Princess Private Equity Holding Ltd
23 November 2023
(LSE: PEYS/PEY)
Princess Private Equity Holding Limited
Princess Q3 2023 results, appointment of new chair and webcast
details
Q3 2023 financial highlights
Princess Private Equity Holding Limited today publishes its
third quarter results for 2023. The key financial highlights
are:
-- Net asset value ("NAV") developed positively and closed Q3
at EUR 15.12 per share, representing a NAV total return of
2.4% in Q3, 6.0% year-to-date.
-- Share price total return was 2.9% in Q3, 31.5% year-to-date.
-- In Q3, value creation of 2.0% was the main driver of NAV
growth with currency effects of 1.4% also contributing to
performance. The three largest contributors were: PCI Pharma
Services, Vishal Mega Mart and Galderma.
-- The total capital invested by Princess in Q3 amounted to
EUR 1.9 million of additional follow-on investments in portfolio
companies.
-- Princess received distributions amounting to EUR 13.9 million
in Q3, of which EUR 9.9 million stemmed from direct investments.
Appointment of new chair
Today, the Princess Board welcomes Peter McKellar as the new
Chair, following an extensive recruitment process. As part of his
initial responsibilities, Mr. McKellar, together with the other
directors, will be focusing on further strengthening the Board with
the recruitment of a minimum of two additional Non-Executive
Directors before the next Annual General Meeting. These
appointments will bolster the Board's expertise to ensure it has
the necessary skills and experience to support the strategic
direction of the Company. 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 to
establishing a clear and robust capital allocation policy
appropriate to the Company's investment strategy, portfolio
liquidity and prevailing market conditions. The Board reiterates
its strong commitment to the dividend objective, which it
recognises is important to many Princess shareholders.
We would also like to take this opportunity to express our
gratitude to Fionnuala Carvill for stepping in as the Interim Chair
since Richard Battey's retirement earlier this year. We appreciate
the leadership Ms. Carvill provided during her tenure and are
grateful for her service to the Company.
Princess Q3 2023 results webcast details
Princess will hold a quarterly investor update today Thursday,
23 November 2023, at 10:00 GMT / 11:00 CET. During the webcast,
Partners Group, the Investment Manager to Princess, will give an
update on the recent developments of the Princess portfolio based
on unaudited figures as of 30 September 2023. Please find the
registration details below or on the Company's webpage.
Date: Thursday, 23 November 2023
Time: 10:00 - 11:00 GMT (Dublin, London)
11:00 - 12:00 CET (Zürich, Frankfurt)
Webcast: To access the live webcast please use this
LINK .
Phone numbers: +44 (0)207 107 06 13 (from the UK)
+41 (0)58 310 50 00 (from Continental Europe)
All lines will be open 10 minutes prior to
the beginning of the conference call.
Other international numbers available HERE
.
The results presentation is now available at:
https://www.princess-privateequity.net/en/investor-relations/web-cast-live-events/
.
Ends.
About Princess
Princess is an investment holding company founded in 1999 and
domiciled in Guernsey. It invests in private equity direct
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 markets, of which USD 74 billion in private equity.
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
E-mail: 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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