DGAP-Adhoc: shaPE Capital AG: Semi-annual results per 30 June 2014
shaPE Capital AG / Key word(s): Half Year Results/Half Year Results
22.08.2014 17:45
Release of an ad hoc announcement pursuant to Art. 53 KR
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Press Release
Freienbach, 22 August 2014
- Solid first half year 2014 with a distribution-adjusted net asset value
per share and share price increase of +5.9% and +20.0% respectively.
- Strong fund distributions enabled further cash distribution of CHF 22
per share in May.
- Continued cash inflows expected to allow for further extraordinary cash
distribution to shareholders in fall 2014.
The first half of 2014 turned out to be a satisfactory period for shaPE.
Adjusted for the CHF 22 per share distribution paid to shareholders in May,
the NAV per share and the share price increased by 5.9% and 20.0%,
respectively over the period. The total net asset value (NAV) decreased by
CHF 9.0 million to CHF 63.5 million over the reporting period. The decrease
was mainly related to the CHF 10.2 million cash distribution to
shareholders in the form of general legal reserves from capital
contribution in May. This fourth distribution brought the total amount
distributed to shareholders to CHF 55.3 million or CHF 103 per share.
Together with an amount of CHF 46.7 million distributed to shareholders via
share buybacks a total of CHF 102.0 million has to date been returned under
the realization strategy. Realized and unrealized gains from the investment
portfolio contributed CHF 4.2 million or 5.8% of beginning years' NAV.
Currency effects were once more a minor contributor. Treasury shares
purchases amounted to CHF 2.0 million or 17'321 shares.
The portfolio continued to produce strong positive cash flows. Over the
reporting period distributions received amounted to CHF 9.0 million. Total
capital calls paid amounted to CHF 1.6 million resulting in a net cash
inflow from investee funds of CHF 7.4 million. Given the strong
distribution activity another extraordinary distribution of excess cash in
fall 2014 seems reasonably likely.
As communicated on occasion of the publication of the 2013 annual report
shaPE intends to continue the adopted harvesting strategy over the coming
quarters while opportunistically selling funds if deemed attractive. Share
buybacks are expected to decrease in importance due to the narrowed
discount.
The full semi-annual report 2014 is available on www.shape-capital.com.
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Information and Explaination of the Issuer to this News:
shaPE Capital AG
shaPE is a SIX Swiss Exchange-listed investment company with exposure to a
global private equity portfolio. 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'.
22.08.2014 News transmitted by EQS Schweiz AG.
The issuer is responsible for the contents of the release.
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Language: English
Company: shaPE Capital AG
Wolleraustrasse 41a
8807 Freienbach
Switzerland
Phone: +41 58 596 12 96
Fax: +41 58 596 12 97
E-mail: info@shape-capital.com
Internet: www.shape-capital.com
ISIN: CH0012885841
Valor: 765355
Listed: SIX
End of Announcement EQS Group News-Service
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