EANS-Adhoc: shaPE Capital AG / New credit line and reduction of unfunded commitments

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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12.03.2010

shaPE Capital AG ("shaPE") today announced that it has secured a CHF 12 million
credit line and is about to sign agreements to sell three partnership interests.

The credit line provides shaPE with a safety net in case capital calls continue
to outweigh distributions received. Additionally, the sale of the three
partnership interests will reduce unfunded commitments by CHF 24 million from
currently CHF 92 million (64% of February 2010 NAV) to CHF 68 million (48% of
February 2010 NAV). The credit line and the reduced unfunded commitments provide
a sound basis for the continuation of the realization strategy that shaPE had
announced in September 2009.

Under the realization strategy shaPE aims to return the full value of the
portfolio (i.e. the current NAV) back to shareholders over time. Depending on
the assessment of the market environment, shaPE may hold on to all or most of
the existing commitments and harvest the proceeds over several years to come or
shaPE may decide to accelerate the realization by selling fund investments on
the secondary market. Currently, shaPE intends to hold on to most of the
underlying commitments as the shareholder value generated through this approach
is expected to be higher compared to selling into the - although improved -
still not attractive secondary market. Both, the credit line and the reduction
of unfunded commitments put shaPE in a strong position for an optimal execution
of the realization strategy over the next few years.

end of ad-hoc-announcement
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shaPE is a SIX Swiss Exchange-listed investment company with exposure to a
global private equity portfolio built over the past years. 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 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: [email protected]
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:     [email protected]
WWW:      http://www.shape-capital.com
sector:   Financial & Business Services
ISIN:     CH0012885841
indexes:

stockmarkets: official dealing: SIX Swiss Exchange
language: English

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