Private Equity Holding is pleased to report a total comprehensive net gain of EUR 73.6 million for the financial year ending March 31, 2007. The comprehensive net gain per share amounts to EUR 18.19 (in 2005/2006: comprehensive net loss per share of EUR 2.78). Since April 1, 2006, the fair value per share (in EUR) has risen by over 60% (65% in CHF). At the end of the financial year it stood at EUR 45.66 (CHF 74.14).
At the Extraordinary General Meeting of December 7, 2006, the shareholders of Private Equity Holding elected a new Board of Directors and decided to lift the investment restrictions in order to allow the Company to pursue suitable investment opportunities. The Board of Directors and ALPHA Associates, the Company's adviser and manager, have started to implement a long-term growth strategy. The ultimate objective of the Company's modified investment strategy is to improve the quality and return potential of the portfolio and increase the fair value per share consistently. Consistent growth should, over time, result in a significant and sustainable reduction of the discount between the share price and the fair value per share. Since the end of the financial year, the bid/offer spread for the Private Equity Holding shares has narrowed and the discount has decreased to currently 26% (basis: closing price April 23, 2007).
The Company aims to decrease its exposure to venture investments and increase the percentage of buyout investments. Geographically, the strategy foresees an increase of the allocation to Europe, including the fast growing region of Central & Eastern Europe.
The Chairman's letter to the Company's shareholders as well as a short version of the Annual Report as of March 31, 2007 are available on our website www.peh.ch from April 24, 2007. The complete Annual Report 2006/2007 will be published at the end of May, 2007.
Private Equity Holding AG (SWX: 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:
Claudine Birbaum, Investor Relations, claudine.birbaum@peh.ch,
phone +41 41 726 79 80 or http://www.peh.ch
Private Equity Holding AG (SWX: 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:
Claudine Birbaum, Investor Relations, claudine.birbaum@peh.ch,
phone +41 41 726 79 80 or http://www.peh.ch
