Last checked at 
24 May 2017 07:00
News Release
Guernsey, 24 May 2017
Princess announces a dividend increase and publishes first quarter 2017 report
The Board of Directors of Princess Private Equity Holding Limited ("Princess" or the "Company") announces the increase of its first interim dividend to EUR 0.28 per share for the 2017 calendar year. This translates into a dividend yield of 5.1% on the net asset value (NAV) per share as of 31 March 2017 and an annualized yield of 5.8% on the 31 March 2017 closing share price.
In addition, Princess today published its first quarter report for the period ended 31 March 2017. The key items were:
· The NAV of Princess increased by 5.9% to EUR 10.77 per share.
· Positive valuation developments, in the form of operational improvements by underlying portfolio companies, proved to be the main performance driver (+7.0%) in NAV terms, while currency effects (-0.1%) were slightly negative. The largest contributors to Princess' NAV growth over the reporting period were the direct investments in VAT Group AG, Action and Dynacast.
· Overall, the total investment activity amounted to EUR 7.5 million with the investment level slightly increasing to 94.1% of NAV, from 92.6% at the start of the year.
· During the reporting period, Princess made a follow-on investment in Dynacast, a global manufacturer of precision engineered metal components. Furthermore Princess invested in two new debt investments, namely Morpho and Tricor Holdings Limited.
· Distribution proceeds to Princess from exited investments totaled EUR 18.5 million for the first quarter of 2017, compared to EUR 20.7 million in the corresponding period last year.
Brian Human, Chairman, comments: "After a successful 2016, Princess continued to develop positively over the first three months of 2017, mainly due to the successful implementation of value creation strategies at company level which continued to generate solid revenue and EBITDA growth. In particular, the Board is delighted to announce the increase of its first interim dividend to EUR 0.28 per share. It continues to be our intention to generate a healthy dividend yield between 5-8% of NAV per annum. Overall we believe that shareholder value continues to be enhanced by the Company's attractive dividend yield, strong balance sheet and the robust trading performance of its global portfolio of mid-cap companies."
The first interim dividend for the year will be paid on 30 June 2017. The relevant date for the entitlement to the dividend (record date) will be 9 June 2017 and the corresponding ex-dividend date will be 8 June 2017. The Company intends to pay dividends semi-annually following the publication of the quarterly reports as of 31 March and 30 September.
Detailed analysis and commentary on the developments and performance of Princess' portfolio over the first three months of 2017 will be presented in a quarterly report published today. The report can be accessed via:
http://www.princessprivateequity.net/financialreports
A copy of the above document has 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 AG
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.