Last checked at 
13 May 2013 07:00
News Release
Guernsey, 13 May 2013
Princess announces dividend payment and publishes first quarter 2013 report
The Board of Directors of Princess Private Equity Holding Limited (Princess or the Company) is pleased to announce a first interim dividend of EUR 0.26 per share for the 2013 calendar year. This translates into a dividend yield of 6.0% on the net asset value (NAV) per share as of 31 March 2013 and a yield of 7.6% on the share price, based on the first interim dividend of 2013 and the second interim dividend of 2012, as well as Friday's closing price on the London Stock Exchange.
In addition, Princess today published its first-quarter report for the period ended 31 March 2013. The key items were:
n The NAV of Princess increased by 1.9% to EUR 8.55 per share over the first quarter.
n Portfolio company revaluations made a +1.6% contribution to Princess' NAV growth, owing to successful exits above book value and constructive value creation efforts by the Investment Manager and its partners. The latter fostered strong revenue and EBITDA growth and healthy capital structures at portfolio company level.
n The Company completed a direct investment in Softonic, a Spanish-based market-leading, global multi-platform software guide company. The transaction was executed via the Partners Group Direct Investments 2012 program.
n Princess' pro-forma net liquidity position, excluding deferred receivables from secondary sales, strengthened over the quarter to EUR 78.8 million or 13.3% of NAV, from EUR 69.5 million or 11.9% of NAV as at the end of 2012.
n During the first quarter of 2013, distributions from successful realizations (EUR 12.8 million) exceeded capital calls from existing third-party fund commitments (EUR 5.3 million).
Brian Human, Chairman, comments: "The Princess portfolio has made a good start to the year, and we expect this to continue. Princess has a strong pipeline of globally diversified direct investment opportunities, with several deals at an advanced stage of due diligence. In terms of distributions, activity is also expected to remain buoyant as the mature portfolio produces successful exits. Furthermore, in 2013, we expect the continued transition to a direct investment portfolio and the high dividend yield objective of 5-8% of NAV to further address discount to NAV, enhancing the attractiveness of the stock to new and existing shareholders alike".
The first interim dividend for the year will be paid on 26 June 2013. The relevant date for the entitlement to the dividend (record date) will be 24 May 2013 and the corresponding ex-dividend date will be 22 May 2013. 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 2013 will be presented in a quarterly report published today. The report can be accessed via: http://www.princess-privateequity.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 AG, a global private markets investment management firm with over EUR 28 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 enquiries:
Partners Group AG
Dr. Anna Hollmann
Communications
Tel.: +41 41 768 83 72
anna.hollmann@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 Private Equity Holding Limited. 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.