SVG Capital : Results for the 45 weeks to 9 December 2016

Highlights:

• 45% total shareholder return since 31 January 2016
• 10% net asset per share growth to 719p (£1,125m)
  • Performance was driven by continued strong performance of the investment portfolio and the sale of the investment portfolio to HarbourVest
  • Aggregate consideration of £807m
  • 0.6% premium to the 31 July 2016 valuation of the investment portfolio
• Return of capital to shareholders and the orderly wind-up of the Company
  • £1,050m through a series of three tender offers at 715p per share
    • £350m returned to shareholders on 16 December 2016
    • Up to £300m tender offer in February 2017
    • Up to £400m tender offer in March/April 2017
  • Following this series of tender offers, the total amount returned to shareholders since December 2011 will be £1.7bn
  • The winding-up of the Company will complete the return of value to shareholders

Andrew Sykes, Chairman, commented:
'SVG Capital has reported another period of strong growth, with net assets per share increasing by 10% and the share price appreciating by 45%.

'Following shareholder approval of the sale of the investment portfolio and return of value in December 2016, we have worked hard to deliver on our commitment to return £1,050 million to shareholders at a share price of 715p by the end of April 2017. This has made good progress, with the first tender offer of £350 million completed on 16 December 2016.

'The SVG Capital management team have worked extremely hard since the financial crisis, at first returning the Company to a position of strength and thereafter driving a strategy of selective investment in high quality and sought after opportunities. It is absolutely in their character that they have completed their roles by ensuring that value was maximised for all shareholders with the sale of the investment portfolio at a premium to net asset value. We wish them all the very best in whatever they go on to do.'