NEWS RELEASE
Zug, February 5, 2010
Financial Statements for the first nine months of 2009/2010
Private Equity Holding AG (PEH) reports a total comprehensive income of EUR 13.7 million for the first nine months of the financial year 2009/2010. As of December 31, 2009, the net asset value per share stood at EUR 50.60 (CHF 75.21), which represents an increase of 7.0% in EUR and 4.8% in CHF, respectively, since April 1, 2009.
The balance sheet of PEH was in a healthy state already at the beginning of the financial year. Since April 1, 2009 the key financial ratios have improved even further. Despite capital calls of EUR 14.3 million, PEH's net current assets increased by 37.2%, while unfunded commitments decreased by 17.1%. At the end of 2009, the unfunded commitments of PEH amounted to a mere 42% of total equity.
In the last three years, which have mostly been characterized by the financial crisis, the NAV per share of PEH (in EUR) increased by 23.9%. In January, the NAV per share (in EUR) has increased again by 2.4%. The discount of the share price to NAV currently stands at 55.5%. Given the solid liquidity cushion and growth potential of the portfolio, the Board of Directors considers this discount as clearly too high.
The Chairman's letter to the Company's shareholders and the Quarterly Report as of December 31, 2009 are available on our website www.peh.ch.
***
Private Equity Holding AG (SIX: PEHN), managed by Alpha Associates, offers investors the opportunity to invest, within a simple legal and tax optimized structure, in a broadly diversified and professionally managed private equity portfolio.
For further information, please contact:
Peter Wolfers, Investor Relations, peter.wolfers@peh.ch, phone +41 41 726 79 80 or http://www.peh.ch
