euro adhoc: shaPE Capital AG
quarterly or semiannual financial statement /
shaPE first half year 2008 results
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
6-month report
28.08.2008
Pfaeffikon SZ, 28 August 2008 --- As per 30 June 2008, the unaudited NAV per share and share price of shaPE reached CHF 265.71 and CHF 257.00 respectively, both down in parallel by 6.2% year to date. The decrease is predominantly currency related with the main investee currencies USD and EUR loosing 10.0% and 2.8% respectively against the Swiss Franc during the reporting period. Currency effects aside, the underlying portfolio developed stable with the fair value of unlisted investments decreasing only slightly by -0.6%. Despite the harsh environment prevailing on the financial markets shaPE has been able to offer liquidity close to NAV at an average discount of -2.1% through the first half year.
shaPE remains confident with regard to the further development of the portfolio and has been able to maintain an active investment pace during the first half year. During the first six months, shaPE has executed seven new primary commitments at an aggregate volume of CHF 59.5 million. As per 30 June 2008, shaPE held 68 LP interests managed by 37 private equity firms, compared to 64 LP interests and 40 managers per end of 2007. The reduction in GP-relationships occurs in line with the intention to focus on key relationships where shaPE sees the potential for re-ups.
While we expect the next few quarters to be difficult for the private equity markets in general, we also expect that our differentiated investment strategy of overweighting the small- and mid sized buyout segment as opposed to the large buyout segment will continue to pay off. We furthermore contentedly note that shaPE has many yet unfunded commitments with managers whom we expect to be especially well positioned to profit from further disruptions in the market place.
The semi-annual report 2008 is available on www.shape-capital.com.
end of announcement euro adhoc
Kontakt:
Dr. Simon Lamprecht
shaPE Capital AG
Poststrasse 4
8808 Pfäffikon SZ
Tel: +41/55/415'28'20
E-Mail: info@shape-capital.com
Internet: www.shape-capital.com
Branche: Financial & Business Services
ISIN: CH0012885841
WKN: 765355
Börsen: SWX Swiss Exchange / official dealing