EANS-Adhoc: shaPE Capital AG Sale of partnership interests
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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.
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other/Sale of partnership interests
28.03.2013
shaPE today announced that it has entered into a final agreement to sell its
BlackRock PEP II fund of funds partnership interests to a non-related
counterparty. The closing which is still subject to GP approval is expected to
take place within the next few days with 60% of the proceeds to be received at
closing and 40% in 12 months. The aggregate net asset value (NAV) of the four
PEP II portfolios (US buyout, US venture capital, Europe buyout, Europe venture
capital) as reported in the Q4 2012 quarterly Newsletter represented close to
one quarter of the shareholders' equity. While the transaction was done at a
considerable discount to the latest available valuations and is therefore
associated with a realized loss in the amount of 5.4% of NAV, it also provides a
solution for one of the most difficult positions of the portfolio. The market
generally applies substantial additional discounts to fund of funds structures
and to venture capital portfolios in particular. As such it is expected that the
sale will increase the attractiveness of the remaining portfolio and facilitate
the ongoing realization strategy.
end of ad-hoc-announcement
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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".
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
end of announcement euro adhoc
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issuer: shaPE Capital AG
Wolleraustrasse 41a
CH-8807 Freienbach
phone: +41/58/596 12 96
FAX: +41/58/596 12 97
mail: info@shape-capital.com
WWW: http://www.shape-capital.com
sector: Financial & Business Services
ISIN: CH0012885841
indexes:
stockmarkets: official dealing: SIX Swiss Exchange
language: English