Company announcement no 8 2010/11
Copenhagen, 15 December 2010
Interim Report for the period 1 August 2010 - 31 October 2010
Net profit for Q3 2010/2011 came to DKK 0.7m. Equity stood at DKK 809m,
corresponding to a book value per share of DKK 16,943.
The Board of Directors of Scandinavian Private Equity A/S (SPEAS) has today
considered and approved the Company's Interim Report for the period 1 August
2010 - 31 October 2010. The Interim Report has not been audited and contains the
following highlights:
* Results for the period were a net profit of DKK 0.7m. Investments in private
equity funds have been written down for impairments by DKK 0.1m, and the
portfolio of listed shares in private equity companies that have been
disposed of during the period, generated a total positive return of DKK
3.1m. Net financials were negative in the amount of DKK 0.5m.
* Investments in private equity funds amounted to DKK 597m, and SPEAS's
uncalled investment commitments totalled approximately DKK 345m, which the
funds may invest in new companies in the next few years. In Q3 2010/11 SPEAS
contributed DKK 61m net to the private equity funds in accordance with the
investment commitments made.
* In addition, SPEAS has deposited DKK 211m with Danish banks.
* Equity stood at DKK 809m at 31 October 2010, equal to a book value per share
of DKK 16,943 against a share price of DKK 10,800 at 14 December 2010.
* In Q3 of the financial year under review, SPEAS bought back another 94 own
shares totalling DKK 1.0m as the share price was considered attractive
compared with the Company's other investment alternatives.
* SPEAS maintains its forecast of a profit in the range of DKK 40m-50m for the
financial year ending on 31 January 2011. The results for the year will
depend on the development in financial markets.
For further information, please contact:
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30
Yours sincerely
Scandinavian Private Equity A/S
Jens Erik Christensen Ole Mikkelsen
Chairman CEO
[HUG#1472699]
