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shaPE Capital AG

EANS-Adhoc: shaPE Capital AG
New credit line and reduction of unfunded commitments

  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.
credit line
12.03.2010
shaPE Capital AG ("shaPE") today announced that it has secured a CHF 
12 million credit line and is about to sign agreements to sell three 
partnership interests.
The credit line provides shaPE with a safety net in case capital 
calls continue to outweigh distributions received. Additionally, the 
sale of the three partnership interests will reduce unfunded 
commitments by CHF 24 million from currently CHF 92 million (64% of 
February 2010 NAV) to CHF 68 million (48% of February 2010 NAV). The 
credit line and the reduced unfunded commitments provide a sound 
basis for the continuation of the realization strategy that shaPE had
announced in September 2009.
Under the realization strategy shaPE aims to return the full value of
the portfolio (i.e. the current NAV) back to shareholders over time. 
Depending on the assessment of the market environment, shaPE may hold
on to all or most of the existing commitments and harvest the 
proceeds over several years to come or shaPE may decide to accelerate
the realization by selling fund investments on the secondary market. 
Currently, shaPE intends to hold on to most of the underlying 
commitments as the shareholder value generated through this approach 
is expected to be higher compared to selling into the - although 
improved - still not attractive secondary market. Both, the credit 
line and the reduction of unfunded commitments put shaPE in a strong 
position for an optimal execution of the realization strategy over 
the next few years.
end of ad-hoc-announcement ==========================================
====================================== 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 current portfolio
over the coming years. shaPE is listed on the SIX Swiss Exchange 
under the ticker symbol “SHPN”.
end of announcement                               euro adhoc

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

Branche: Financial & Business Services
ISIN: CH0012885841
WKN: 765355
Börsen: SIX Swiss Exchange / official dealing

Weitere Storys: shaPE Capital AG
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  • 24.08.2009 – 08:34

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