Tag Archives: 2013

Notification of major shareholding (Henrik Lind)

Company announcement no 18 2013/14
Copenhagen, 30 January 2014



Mr. Henrik Østenkjær Lind has informed us that he through the company Lind Value ApS has bought 2,300 shares in Scandinavian Private Equity A/S on 30 January 2014.

As a consequence of the transaction, Mr. Henrik Østenkjær Lind increases his total shareholding in Scandinavian Private Equity A/S to 6,556 shares, equal to 13.1% of the share capital, of which Lind Invest ApS owns 5.881 shares, equal to 11.75% of the share capital.


Yours sincerely,
Scandinavian Private Equity A/S

Ole Mikkelsen
CEO

Reduction of investment commitment to IK VII

Company announcement no 17 2013/14
Copenhagen 28 January 2014



Reduction of investment commitment to IK VII
Scandinavian Private Equity A/S (SPEAS) has agreed to sell EUR 4m of its IK VII investment commitment.

The sale is in accordance with the company’s change of strategy to prioritise distribution to shareholders over new investment commitments. After the sale, SPEAS’ investment commitment to the private equity fund IK VII will amount to EUR 6m.

The sales proceeds are confidential. The transaction will have a limited impact on net profit and, as a consequence of the sale, the uncalled investment commitment will be reduced by EUR 3.1m (DKK 23.4m). The sale is subject to the final approval of the transfer documentation from IK VII.

For further information, please contact:
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30

2013 17 140128 IK VII UK

Financial calendar for the financial year 2014/15

Company announcement no 16 2013/14
Copenhagen, 17 January 2014



Financial calendar for the financial year 2014/15
Scandinavian Private Equity A/S (SPEAS) expects, during the next financial year ending 31 January 2015, to announce the financial statements on the following dates:

30 April 2014 Annual report for the financial year
1 February 2013 – 31 January 2014
18 June 2014 Interim report, Q1
1 February 2014 – 30 April 2014
22 September 2014 Interim report, H1
1 February 2014 – 31 July 2014
17 December 2014 Interim report, Q3
1 August 2014 – 31 October 2014

The annual general meeting will be held on Monday 26 May 2014 at 4.00pm. Requests of items to be included on the agenda for the Annual General Meeting must be received by the Company no later than Friday 11 April 2014.


For further information, please contact:
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30

2013 16 140117 Financial calendar

Interim Report Q3 2013/14

Company announcement no 15 2013/14
Copenhagen, 19 December 2013



Interim Report for the period 1 August 2013 – 31 October 2013

Scandinavian Private Equity A/S (SPEAS) recorded a profit for Q3 2013/14 of DKK 14.4m. Equity stood at DKK 934m, corresponding to a book value per share of DKK 20,491.


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 2013 – 31 October 2013. The Interim Report contains the following highlights:

  • On 14 November 2013 SPEAS announced a change of strategy. Based on the unsatisfactory price/book value, SPEAS’s Board of Directors has decided that SPEAS must at present prioritise distribution to shareholders over new investment commitments in order to maximise value creation for shareholders, also in the short term. Distribution will be in the form of share buybacks and/or dividends.
  • Investments in private equity funds generated a return of DKK 19.2m. Less costs incurred (DKK 1.1m), depreciation and amortisation (DKK 2.0m) and net financials (DKK 1.6m), net profit for the period came to DKK 14.4m.
  • Investments in private equity funds amounted to DKK 703m, or 75% of net assets (82% at 31 July 2013).
  • In Q3 2013/14 SPEAS contributed DKK 14.5m gross to the private equity funds and received DKK 82.3m as proceeds from exits, recapitalisation, etc.
  • SPEAS’s cash amounted to DKK 224m, or 24% of net assets (17% at 31 July 2013).
  • Equity stood at DKK 934m at 31 October 2013, equal to a book value per share of DKK 20,491 against a quoted price of DKK 14,940 at 31 October 2013 (before change of strategy) and DKK 18,400 at 18 December 2013. Book value per share has increased by 1.6% in the financial period.
  • Based on the realised profit for the financial period, SPEAS still forecasts a profit in the range of DKK 25m-35m for the financial year ending on 31 January 2014. Full-year results will depend on the development in financial markets and in the portfolio companies of the private equity funds, and the forecast is thus subject to considerable uncertainty.


For further information, please contact:
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30

2013 15 131219 Q3 UK

EQT VI acquires the Well Intervention Services Business from Aker Solutions ASA

EQT VI has entered into an agreement to acquire Oslo-listed Aker Solutions ASA’s Well Intervention Services Business which is the market leader in the North Sea and one of three major players in the global wireline tractor market. Well intervention services are operations carried out in oil or gas wells, with the objective of maximising production and increasing the recovery rate from the reservoirs.

SPEAS has made an investment commitment of EUR 10m to the private equity fund EQT VI.

View the press release from EQT here

IK2007 to sell Europe Snacks

IK2007 to sell Europe Snacks, a market leader for private label salted snacks in France. IK2007 acquired Europe Snacks in 2010.

Turnover grew by 50% in three years under IK’s ownership. With IK’s support, the company carried out a large investment programme, developed its existing product range and launched new product lines. In particular, it built a new production site and increased its workforce by 20%.

SPEAS has made an investment commitment of EUR 25m to the private equity fund IK2007.

View the press release from IK Investment Partners here

Change of strategy

Company announcement no 14 2013/14
Copenhagen, 14 November 2013



Change of strategy

Until today, SPEAS has focused on long-term value creation and reinvested exit proceeds received in new, attractive private equity funds. Private equity investments have performed satisfactorily, with returns outperforming the equity market. However – in line with other listed private equity companies – for some time the Company’s share price has been considerably lower than the book value per share.

Based on the unsatisfactory price/book value, SPEAS’s Board of Directors has decided that SPEAS should prioritise distribution to shareholders over new investment commitments at present in order to ensure the best possible value creation for shareholders, in the short term as well. Distribution will be in the form of share buybacks and/or dividends.

Thus SPEAS intends to distribute as large a share of its cash reserves as possible, with due regard to outstanding investment commitments, and up to end-2014 the Board of Directors estimates that the Company will have sufficient cash reserves to be able to distribute DKK 100m, to which comes a considerable share of any exit proceeds received.

In this connection, the Company intends to keep buying back own shares in the market, to the extent allowed by the liquidity of the share, as SPEAS in one trading day does not want to represent more than 50% of the registered turnover of the share. Currently, the Company’s holding of own shares corresponds to 8.9% of the share capital, and the Board of Directors is authorised to buy back up to 15% of the share capital.

Distribution to shareholders will reduce SPEAS’s investment capacity to an extent expected to result in a winding-up of the Company.

The Company’s level of costs will be adapted to the changed strategy, and at SPEAS’s ordinary general meeting on 26 May 2014 the Board of Directors will propose a reduction in the number of its Directors. The Board of Directors will also propose that the Company’s holding of own shares be cancelled and specify how future distribution to shareholders will be effected.


For further information, please contact:
Henning Kruse Petersen, Chairman of the Board of Directors, tel +45 20 10 00 51
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30

2013 14 131114 Strategy

Notification of major shareholding (Henrik Lind)

Company announcement no 13 2013/14
Copenhagen, 5 November 2013

Mr. Henrik Østenkjær Lind has informed us that Lind Value ApS has sold 3,581 shares in Scandinavian Private Equity A/S to Lind Invest ApS. Both companies are controlled by Mr. Henrik Østenkjær Lind.

The transaction has not affected Mr. Henrik Østenkjær Lind’s total shareholding in Scandinavian Private Equity A/S. As a consequence of the transaction, Lind Value ApS has reduced its ownership from 3,581 shares equivalent to 7.15% of the share capital to 0 shares. After the transaction, Lind Invest ApS owns 3,581 shares in Scandinavian Private Equity A/S equivalent to 7.15% of the share capital.

Yours sincerely,
Scandinavian Private Equity A/S

Ole Mikkelsen
CEO

Notification of major shareholding (Henrik Lind)

Company announcement no 12 2013/14
Copenhagen, 2 October 2013

Today, Mr. Henrik Østenkjær Lind has informed us that Danske Commodities A/S has sold 2.546 shares in Scandinavian Private Equity A/S to Lind Value ApS. Both companies are controlled by Mr. Henrik Østenkjær Lind.

The transaction has not affected Mr. Henrik Østenkjær Lind’s total shareholding in Scandinavian Private Equity A/S. As a consequence of the transaction, Danske Commodities A/S has reduced its ownership from 2,546 shares equivalent to 5.09% of the share capital to 0 shares. After the transaction, Lind Value ApS owns 3,514 shares in Scandinavian Private Equity A/S equivalent to 7.02% of the share capital.

Yours sincerely,
Scandinavian Private Equity A/S

Ole Mikkelsen
CEO

IK VII to acquire DNV Petroleum Services

IK VII has entered into an agreement with the Norwegian foundation Det Norske Veritas, to acquire its subsidiary DNV Petroleum Services, a global leader in fuel management services.

SPEAS has made an investment commitment of EUR 10m to the private equity fund IK VII.

View the press release from IK Investment Partners here