News Column

PRIVATE EQUITY INVESTOR PLC - Net Asset Value(s)

June 6, 2014



PRIVATE EQUITY INVESTOR PLC The Company announces that its Net Asset Value ("NAV") at 31 May 2014, including the current period deficit and incorporating the Limited Partnership portfolio valuations referred to below was: 227.59 pence (US 381.75 cents) per share* The exchange rate at which this was calculated was =US$1.67735 * The Company's reported NAV is based on the aggregate net asset values of the Funds in which it has invested. These Funds report quarterly and the valuations are adjusted by the Company for calls and distributions made. When publishing its NAV at the end of each month it is not the Company's practice or policy to revalue investments held within the Funds. However, the Company notes that it has recently received a distribution of shares of Twitter, Inc. At 31 March 2014, Twitter's closing stock price was $46.67, which is the date of the latest report received from IVP XII. Shares of Twitter held directly by the Company at 31 May 2014 have been valued at $32.44 per share, the closing price on 30 May 2014. While there are a number of factors that complicate the calculation of the impact of the Company's underlying interest in Twitter, the Company estimates that if PEI's current indirect holdings of Twitter were priced at $32.44, PEI's NAV on 31 May 2014 would decline by approximately 3.06 pence per share. In addition, the Company notes that the Company's reported NAV includes valuations as of 31 March 2014 for all of its portfolio funds, some of which were received after 27 May 2014, the Calculation Date for the Company's recent tender offer. Revaluation dates of Limited Liability Partnerships: APV Technology Partners III 31 March 2014 Crescendo IV 31 March 2014 Dawntreader Fund II 31 March 2014Draper Fisher Jurvetson ePlanet Ventures 31 March 2014 Draper Fisher Jurvetson Fund VI 31 March 2014 Draper Fisher Jurvetson Fund VII 31 March 2014Draper Fisher Jurvetson Gotham Venture Fund31 March 2014 Draper Fisher Jurvetson Gotham Venture Fund Expansion 31 March 2014 Unit Focus Ventures II 31 March 2014Francisco Partners II31 March 2014 Institutional Venture Partners XII 31 March 2014New Enterprise Associates 9 31 March 2014New Enterprise Associates 10 31 March 2014New Enterprise Associates 12 31 March 2014 Oak Investment Partners X 31 March 2014 Sprout Capital IX 31 March 2014 TCV IV 31 March 2014 Vanguard VII 31 March 2014 Vantagepoint Venture Partners IV 31 March 2014Vantagepoint 2006 Fund 31 March 2014 Vector Capital IV 31 March 2014 Zone Venture Fund II 31 March 2014 Zone Venture Fund II Annex 31 March 2014



06 June 2014


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Source: PR Newswire (UK Disclosure)


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