Private Equity Holding reports a gain of EUR 44.9 million for the half-year ended September 30, 2006, mainly resulting from the first-time valuation of the earn-out to be received from CSFB Strategic Partners II LP, as described in the notes to the semi-annual financial statements.
Taking into consideration the unrealized value of the earn-out, the fair value per share stood at EUR 38.41 as of the end of the quarter. This represents an increase of 44% compared to June 30, 2006.
Securities available-for-sale and loans stood at EUR 101.5 million as of September 30, 2006 (March 31, 2006: EUR 112.1 million). The change compared to the end of March reflects the net effect of capital contributions of EUR 3.2 million, negative value adjustments of EUR 3.3 million, and return of capital of EUR 10.5 million. Total distributions, including capital gains, amounted to EUR 11.3 million. Outstanding commitments decreased further and stood at only EUR 6.0 million.
At the Annual General Meeting held on June 28, 2006, the shareholders of Private Equity Holding approved (i) the cancellation of the 450,000 shares purchased under the share buyback program, and (ii) a share capital reduction by means of the reduction of the par value per share from CHF 10 to CHF 8 and the distribution of the reduction amount to the shareholders. The cancellation of the treasury shares and the distribution to the shareholders were effected on September 27, 2006.
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The Half-Year Report as of September 30, 2006 is available on our website www.peh.ch from October 26, 2006.
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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: www.peh.ch or Tamara Krebs, Investor Relations and Communications (phone +41 41 726 79 80).
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