EANS-Adhoc: shaPE Capital AG
Semi-annual results per 30 June 2010
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
6-month report/Semi-annual report
31.08.2010
shaPE Capital AG ("shaPE", the "Company") reports a comprehensive
income of CHF 4.0 million for the first half-year 2010. As of 30 June
2010 the unaudited net asset value per share stood at CHF 184.33,
which represents an increase by 7.5% over the first half-year.
Although the share price increased by 31.3% over the period the
shares still trade at a discount of 50.5% relative to the net asset
value per share.Over the first half-year shaPE concentrated its efforts on the further de-risking of the investment portfolio and the execution of the realization strategy. Besides the setup of a new CHF 12 million credit line shaPE sold three mainly unfunded limited partnership interests. Per 30 June 2010 total unfunded commitments amounted to CHF 66 million, representing a decrease of CHF 31 million or -32% vs. year end. After the reporting date shaPE agreed on the sale of four additional partnership interests that will result in a further reduction of unfunded commitments by approx. CHF 10 million and at the same time will improve the liquidity.
Under the running share buyback program a total number of 69´275 own shares or 8.2% of total capital was repurchased throughout the period. As per 30 June 2010, holdings in own shares amounted to 83´488 shares or 9.8% of total share capital. shaPE intends to continue its buyback activities as long as the discount remains at elevated levels. At the same time opportunistic sales of further fund interests in the secondary market will be considered if such sales either entail a significant reduction in unfunded commitments or if they can be realized close to or at the intrinsic value. Nonetheless it is expected that the realization strategy will require several more years.
The full semi-annual report 2010 is available on www.shape-capital.com.
end of ad-hoc-announcement ========================================== ====================================== shaPE is a SIX Swiss Exchange-listed investment company with exposure to a global private equity portfolio built over the past years. In 2009 shaPE decided to initiate a realization strategy with the ultimate goal to return the intrinsic value of the current portfolio to its shareholders. Under this realization strategy shaPE does not make any new commitments to private equity funds, but focuses on harvesting the value of the current portfolio over the coming years. shaPE is listed on the SIX Swiss Exchange under the ticker symbol SHPN.
end of announcement euro adhoc
Further inquiry note:
Dr. Simon Lamprecht
shaPE Capital AG
Wolleraustrasse 41a
8807 Freienbach
Phone: +41 58 596 12 96
Fax: +41 58 596 12 97
E-mail: info@shape-capital.com
Internet: www.shape-capital.com
Branche: Financial & Business Services
ISIN: CH0012885841
WKN: 765355
Börsen: SIX Swiss Exchange / official dealing