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Eastnine — Earnings Release 2009
Dec 7, 2009
3037_rns_2009-12-07_bc5a985a-a4e1-4538-a645-3e349f276e31.pdf
Earnings Release
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PRESS RELEASE
Stockholm, 7 December 2009
Net Asset Value in East Capital Explorer per 30 November 2009
- On 30 November 2009 the net asset value per share in East Capital Explorer amounted to EUR 9.27 (corresponding to SEK 97.06 i). The total net asset value amounted to EUR 329.0m (corresponding to SEK 3,444.6m)
- The change in the total net asset value (EUR) was 0.8 percent compared to 31 October 2009 and 24.1 percent year-to-date
- Cash, deposits and bonds per share amounted to EUR 2.48 (SEK 25.97), corresponding to a total of EUR 88.1m (SEK 922.4m) of which EUR 49.6m (SEK 519.3m) is available for future investments
- The closing price per share on 30 November 2009 was SEK 67.25 (corresponding to EUR 6.42)
| Fair value | Fair value | |||
|---|---|---|---|---|
| change | change | NAV/Share | ||
| Portfolio on 30 November 2009 | 2009 % | November % | EUR | % of NAV |
| Semi-Public Equity Fund Investments | ||||
| East Capital Bering Russia | 15,7% | 5,8% | 0,89 | 9,6% |
| East Capital Bering Ukraine | -13,9% | 0,3% | 0,19 | 2,0% |
| East Capital Bering Balkan | 23,8% | -2,0% | 0,96 | 10,4% |
| East Capital Bering Central Asia | 15,4% | 8,6% | 0,56 | 6,1% |
| East Capital Bering New Europe | 33,3% | 1,3% | 0,44 | 4,8% |
| East Capital Power Utilities Fund | 157,1% | 1,9% | 1,92 | 20,7% |
| East Capital Special Opportunities Fund | 7,3% | -4,5% | 1,06 | 11,4% |
| 39,5% | 1,1% | 6,03 | 65,0% | |
| Direct Investments | ||||
| MFG (OAO Melon Fashion Group) | 0,0% | 0,0% | 0,28 | 3,0% |
| TEO LT, AB | -1,7% | -1,7% | 0,23 | 2,5% |
| 0,51 | 5,5% | |||
| Private Equity Fund Investments | ||||
| East Capital Russian Property Fund1 | -6,9% | 67,8% | 0,03 | 0,3% |
| Public Equity Fund Investments | ||||
| East Capital (Lux) Eastern European Fund (EUR) | 82,3% | -0,2% | 0,30 | 3,2% |
| Short-term Investments | ||||
| Short-term Investments (incl bonds) | 0,73 | 7,9% | ||
| Cash and deposits | 1,75 | 18,9% | ||
| 2,48 | 26,8% | |||
| Total Portfolio | 9,35 | 100,8% | ||
| Other assets and liabilities net | -0,08 | -0,8% | ||
| Net Asset Value (NAV) | 24,1% | 0,8% | 9,27 | 100,0% |
1 EUR 40m has been committed to the East Capital Russian Property Fund. To date, no investments have been made in the fund. Total draw-downs of EUR 1.5m have been made to cover costs in the fund, of which EUR 0.6m was made in July. The fair value change in the table above refers to the change in value of the draw-downs following payment of costs. The remaining committed EUR 38.5m is still placed in cash and short-term deposits.
The total number of shares in East Capital Explorer on the same date was 35,499,160.
i 1 EUR = SEK 10.47 on 30 November 2009. Source: Reuters.
This report has not been subject to review by the Company's auditors.
The full net asset value report including the portfolio on 30 November 2009 is included in the attached pdf-file.
Contact information:
Gert Tiivas, CEO East Capital Explorer +46 8 505 977 30 Louise Hedberg, Head of Communications/IR East Capital Explorer +46 8 505 977 20
Financial reporting calendar - East Capital Explorer:
- Monthly Net Asset Value report on the fifth working day after the end of each month
- Year-end Report 2009, 17 February 2010
- Annual Report 2009 available in the week of 5 April 2010
- Annual General Meeting 2010 in Stockholm on 28 April 2010
- Interim Report 1 January 31 March 2010, 11 May 2010
- Interim Report 1 January 30 June 2010, 20 August 2010
- Interim Report 1 January 30 September 2010, 11 November 2010
About East Capital Explorer │ East Capital Explorer AB is a Swedish company, created with the specific aim of bringing unique investment opportunities in Eastern Europe to a broader investor base. The company invests mainly in East Capital's private equity and semi-public equity funds that provide exposure to companies not otherwise accessible via the local stock exchanges in Eastern Europe. East Capital Explorer targets fast growing sectors such as the power utilities, financial, retail and consumer goods and real estate sectors. East Capital Explorer has appointed East Capital to manage its investment activities. Since 9 November 2007, East Capital Explorer is listed on NASDAQ OMX Stockholm, Mid Cap.
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.