shaPE Capital AG

EANS-Adhoc: shaPE Capital AG
Annual results 2012

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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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Annual Reports/annual report/Annual results 2012
03.04.2013


- Strong net asset value per share increase (+13.8%) and share price performance
(+30.6%) in 2012.

- Significant share buybacks in 2012 contributed to performance, but decreasing
value creation potential going forward due to narrowed discount.

- Harvesting accompanied by opportunistic secondary sales remain key components
of realization strategy.

The third full year under the realization strategy turned out to be a calm but
solid year. With a NAV per share increase of 13.8% and a share price increase of
30.6% the returns were strong, continuing the consistent trend from the prior
two years. Increased valuations of the underlying funds contributed 10.8% to the
overall increase. Continued purchase of treasury shares at a discount to NAV
contributed another 6.3%. FX and costs contributed negatively by -1.3% and
-1.9%, respectively. Over the year totally 98'939 treasury shares were bought
back representing 16.1% of shares outstanding at the beginning of 2012. The
shares were repurchased at an average price of CHF 130.23 which represents a
discount of 36.0% vs. the year-end NAV per share. As the discount has narrowed
consistently from -37.6% to -28.2% over the year the value creation potential of
this lever to return cash to shareholders is shrinking. 

As announced on 28 March shaPE has entered into a final agreement to sell its
BlackRock PEP II fund of funds partnership interests ("PEP II interests") to a
non-related counterparty. While the sale was done at a discount and as a result
is associated with a write-down on NAV in the magnitude of 5-6% it also provided
a solution for one of the most difficult positions of the portfolio. As such it
is expected that the sale will increase the attractiveness of the remaining
portfolio and facilitate the future realization. The proceeds from the
transaction together with the accumulated cash position will allow the board of
directors to propose a cash distribution of general legal reserves from capital
contributions in the amount of CHF 38 per share at the occasion of the upcoming
shareholder meeting.

The full annual report 2012 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. 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
 



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