Last checked at 
12 Aug 2010 16:56
News Release
Guernsey, 12 August 2010
Princess NAV up by 15.7% in the first half of 2010
Princess Private Equity Holding Limited (Princess) published its half-yearly report for the six months ended 30 June 2010 today. Notable events include:
n The net asset value (NAV) of Princess increased by 15.7% to EUR 8.49 per share in the first half of 2010
n A significant driver for the rise in NAV was the positive earnings momentum of many portfolio companies
n Deal activity in the portfolio increased substantially and distributions continued to exceed capital calls, thus contributing positively to Princess' liquidity position
n The appreciation of the US dollar against the euro positively influenced the NAV and Princess also renewed its currency hedging contract at the end of June 2010
n The Princess share price continued to rise and gained 35.6% during the first half of 2010, closing at EUR 4.60 per share on the Frankfurt Stock Exchange
n After the Annual General Meeting narrowly rejected the proposed restructuring of Princess, the Board of Princess and the Investment Manager are currently reviewing portfolio-based measures in an effort to reduce the structural discount
Brian Human, Chairman of Princess' Board of Directors, comments: "The positive earnings momentum of many companies in the Princess portfolio had a substantial impact on the strong NAV development during the first half of 2010. Despite this satisfying NAV development and the considerable rise in share price, the discount to the NAV still stood at 45.9% at the end of June 2010. I believe that this discount does not reflect the high quality of the Princess portfolio, particularly in light of the fact that discounts in the institutional secondary market have narrowed to 0-20% for high-quality private equity assets. The Board of Princess and the Investment Manager are therefore actively reviewing opportunities to reduce the structural discount under the current Frankfurt and London listed closed-end structure in order to enhance shareholder value."
A detailed analysis and commentary on the first half 2010 developments at Princess are presented in the half-yearly report published today, which can be accessed via http://www.princess-privateequity.net/en/investor_relations/reports.php?ml
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 20 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 Frankfurt Stock Exchange (ticker symbol: PEY1) and 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
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.