EANS-Adhoc: shaPE Capital AG Semi-annual results per 30 June 2011
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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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6-month report
29.08.2011
Freienbach, 29 August 2011
- Net asset value per share CHF 168.66, +4.3% since 31 December 2010 (adjusted
for CHF 25 per share distribution to shareholders in May 2011).
- Fair value of investment portfolio increased by 8.3% in local currencies;
increase however mainly offset by negative currency impact (US Dollar and Euro
depreciating against the Swiss Franc).
- Further lowered unfunded commitments and now net cash flow positive investment
portfolio reduce liquidity risk.
- Realization strategy on track: CHF 25 per share distributed to shareholders in
May; 170´000 shares or 20% of share capital cancelled and new share buyback
program launched in July.
The investment portfolio of shaPE developed positively with an increase by 8.3%
in local currencies. Currency effects, in particular the US Dollar and the Euro
depreciating significantly against the Swiss France unfortunately offset the
appreciation almost entirely. Overall the net asset value (NAV) per share
increased to CHF 168.66 (+4.3%), mainly as an effect of the conducted treasury
share purchases.
During the first half year several important milestones were achieved under the
imposed realization strategy. The milestones include the achievement of a
finally cash flow positive investment portfolio through the continued sale of
unfunded commitments, a significant cash distribution of CHF 25 as well as a
share capital reduction by the approved maximum amount of 20% of share capital.
Particularly considering the most recent market turmoil and associated macro
economic uncertainty investors are reminded that the harvesting of the intrinsic
value of the investment portfolio will take a considerable amount of time.
Although the full impacts to the private equity industry are yet ambiguous, a
deteriorating real economy in the US and Europe where shaPE has its main
exposure would certainly bring unpleasant headwinds.
The full semi-annual report 2011 is available on www.shape-capital.com.
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 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.
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
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 ...