Princess Q3 2023 Updates

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:	[phone] (from the UK) [phone] (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:

[e-mail]

www.princess-privateequity.net

Investor relations contact: Sarah Page Phone: [phone] E-mail: [e-mail]

Media relations contact: Jenny Blinch Phone: [phone] E-mail: [e-mail]

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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