EANS-Adhoc: shaPE Capital AG / Annual results 2012

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Annual Reports/annual report/Annual results 2012
03.04.2013

- Strong net asset value per share increase (+13.8%) and share price
performance (+30.6%) in 2012.

- Significant share buybacks in 2012 contributed to performance, but
decreasing value creation potential going forward due to narrowed
discount.

- Harvesting accompanied by opportunistic secondary sales remain key
components of realization strategy.

The third full year under the realization strategy turned out to be a
calm but solid year. With a NAV per share increase of 13.8% and a
share price increase of 30.6% the returns were strong, continuing the
consistent trend from the prior two years. Increased valuations of
the underlying funds contributed 10.8% to the overall increase.
Continued purchase of treasury shares at a discount to NAV
contributed another 6.3%. FX and costs contributed negatively by
-1.3% and -1.9%, respectively. Over the year totally 98'939 treasury
shares were bought back representing 16.1% of shares outstanding at
the beginning of 2012. The shares were repurchased at an average
price of CHF 130.23 which represents a discount of 36.0% vs. the
year-end NAV per share. As the discount has narrowed consistently
from -37.6% to -28.2% over the year the value creation potential of
this lever to return cash to shareholders is shrinking.

As announced on 28 March shaPE has entered into a final agreement to
sell its BlackRock PEP II fund of funds partnership interests ("PEP
II interests") to a non-related counterparty. While the sale was done
at a discount and as a result is associated with a write-down on NAV
in the magnitude of 5-6% it also provided a solution for one of the
most difficult positions of the portfolio. As such it is expected
that the sale will increase the attractiveness of the remaining
portfolio and facilitate the future realization. The proceeds from
the transaction together with the accumulated cash position will
allow the board of directors to propose a cash distribution of
general legal reserves from capital contributions in the amount of
CHF 38 per share at the occasion of the upcoming shareholder meeting.

The full annual report 2012 is available on www.shape-capital.com.

end of ad-hoc-announcement ==========================================
====================================== shaPE is a SIX Swiss
Exchange-listed investment company with exposure to a global private
equity portfolio. 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 value of the current portfolio
over the coming years. shaPE is listed on the SIX Swiss Exchange
under the ticker symbol "SHPN".

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

end of announcement euro adhoc
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issuer: shaPE Capital AG
Wolleraustrasse 41a
CH-8807 Freienbach
phone: +41/58/596 12 96
FAX: +41/58/596 12 97
mail: info@shape-capital.com
WWW: http://www.shape-capital.com
sector: Financial & Business Services
ISIN: CH0012885841
indexes:
stockmarkets: official dealing: SIX Swiss Exchange
language: English