EANS-Adhoc: shaPE Capital AG / Sale of partnership interests

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other/Sale of partnership interests 28.03.2013

shaPE today announced that it has entered into a final agreement to sell its BlackRock PEP II fund of funds partnership interests to a non-related counterparty. The closing which is still subject to GP approval is expected to take place within the next few days with 60% of the proceeds to be received at closing and 40% in 12 months. The aggregate net asset value (NAV) of the four PEP II portfolios (US buyout, US venture capital, Europe buyout, Europe venture capital) as reported in the Q4 2012 quarterly Newsletter represented close to one quarter of the shareholders' equity. While the transaction was done at a considerable discount to the latest available valuations and is therefore associated with a realized loss in the amount of 5.4% of NAV, it also provides a solution for one of the most difficult positions of the portfolio. The market generally applies substantial additional discounts to fund of funds structures and to venture capital portfolios in particular. As such it is expected that the sale will increase the attractiveness of the remaining portfolio and facilitate the ongoing realization strategy.

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".

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   March 28, 2013 12:40 ET (16:40 GMT)- - 12 40 PM EDT 03-28-13