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24 Jun 2013 17:25
24 June 2013
China Private Equity Investment Holdings Limited
("CPE" or the "Company")
Reduction in Net Asset Value
The Company announces that in its preliminary results for 31 December 2012, due for release later this week, it is likely to report a reduction in its consolidated net asset value to US$ 23.2m, equivalent to US$0.30 per share. This represents a 29.7% decrease from the last reported net asset value of US$33.0 million as at 30 June 2012, equivalent to US$0.43 per share.
This expected reduction in net asset value is mainly due to decreases in fair value of the CPE's stakes in Enfinium and Fortel. The value of the CPE's holding in Enfinium was reduced by US$3.34 million, as announced on 15 October 2012, following the exchange of the CPE's shares for 127,000 shares in AIP Global, Enfinium's parent company. During the recent audit process for the year-end financial statements, the Company auditors have also determined to reduce the carrying value of the investment in Fortel by US$5.88m.
Further details of the Company's financial performance for the year ended 31 December 2012 will be contained in the Company's preliminary results which will be released later this week.
For further information, please visit www.cpe-invest.comor contact:
Maria Leung China Private Equity Investment Holdings Ltd: |
+852 2801 6770
|
Azhic Basirov / Siobhan Sergeant, Smith & Williamson Corporate Finance Ltd: |
+44 (0) 20 7131 4000
|
Allan Piper First City Public Relations (Hong Kong): |
+852 2854 2666
|
Simon Hudson Tavistock Communications (London): |
+44 (0) 20 7920 3170
|
www.cpe-invest.com | Ticker symbol: London - CPEH Frankfurt - AA1JBE5 |
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