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Eastnine — Earnings Release 2011
Mar 7, 2012
3037_rns_2012-03-07_1435cb62-45a8-4f67-9ab2-44555b0ddb1e.pdf
Earnings Release
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PRESS RELEASE
Stockholm, 7 March 2012
Net Asset Value SEK 84 per share on 29 February 2012
- On 29 February 2012 the net asset value per share in East Capital Explorer amounted to EUR 9.55 (corresponding to SEK 84i ). The total net asset value amounted to EUR 322m (corresponding to SEK 2.8bn)
- The total net asset value (EUR) increased 4.4 percent compared to 31 January 2012
- The value of cash, cash equivalents and other short term investments per share amounted to EUR 1.11 (SEK 10), corresponding to an aggregate of EUR 37m (SEK 326m) of which EUR 24m (SEK 211m) were available for future investments
- East Capital Explorer has continued to buy shares in TEO LT for an additional EUR 1.1m
- The Board of Directors of East Capital Explorer proposes a dividend of SEK 0.80 per share for the fiscal year 2011, to be formally decided upon at the AGM in April
- The closing price per share on 29 February 2012 was SEK 57.25 (corresponding to EUR 6.50)
| % Fair1 value |
% Fair1 value |
Fair value per |
Fair | ||
|---|---|---|---|---|---|
| change | change | share, | value, | % | |
| Portfolio on 29 February 2012 | February | 2012 | EUR | EURm | of NAV |
| Fund Investments | |||||
| East Capital Bering Russia Fund | 4.8% | 9.9% | 0.91 | 30.9 | 10% |
| East Capital Bering Ukraine Fund A | -3.3% | 3.3% | 0.17 | 5.8 | 2% |
| East Capital Bering Ukraine Fund R | -2.8% | -3.3% | 0.16 | 5.3 | 2% |
| East Capital Bering Balkan Fund | 3.9% | 7.8% | 1.22 | 41.1 | 13% |
| East Capital Bering Central Asia Fund | 8.7% | 14.6% | 0.56 | 19.0 | 6% |
| East Capital Bering New Europe Fund | 1.8% | 10.5% | 0.40 | 13.3 | 4% |
| East Capital Power Utilities Fund | 7.1% | 22.7% | 1.33 | 44.9 | 14% |
| East Capital Special Opportunities Fund | 8.0% | 18.0% | 1.03 | 34.6 | 11% |
| East Capital Special Opportunities Fund II | 2.6% | 4.9% | 0.77 | 26.0 | 8% |
| East Capital (Lux) Eastern European Fund | 7.2% | 21.7% | 0.27 | 9.1 | 3% |
| 5.1% | 12.7% | 6.82 | 230.0 | 71% | |
| Direct Investments | |||||
| Melon Fashion Group | 0.0% | 0.0% | 0.58 | 19.5 | 6% |
| TEO LT | 4.3% | 8.2% | 0.54 | 18.3 | 6% |
| East European Debt Finance (EEDF) | 2.2% | 8.5% | 0.04 | 1.2 | 0% |
| Populi | 0.0% | 0.0% | 0.00 | 0.1 | 0% |
| Komercijalna Banka Skopje | 20.4% | 21.7% | 0.35 | 11.9 | 4% |
| Trev-2 Group | 0.0% | 0.0% | 0.12 | 4.0 | 1% |
| 5.3% | 7.0% | 1.63 | 55.1 | 17% | |
| Short-term Investments | |||||
| Other short-term investments Cash and cash equivalents |
0.62 0.48 |
21.1 16.3 |
7% 5% |
||
| 1.11 | 37.4 | 12% | |||
| Total Portfolio | 9.56 | 322.5 | 100% | ||
| Other assets and liabilities net | -0.02 | -0.5 | 0% | ||
| Net Asset Value (NAV) | 4.4% | 9.7% | 9.55 | 322.0 | 100% |
1) The fair value change calculation is adjusted for investments and distributions during the period, i.e. it is the percentage change between the starting fair value and any added investment during the period and the ending fair value plus any proceeds from divestments or dividends received during the period
Note that certain numerical information may not sum due to rounding
i 1 EUR = 8.81 SEK on 29 February 2012. Source: Bloomberg
Excluding shares held by the company following buy-backs since September 2011, the number of shares outstanding in East Capital Explorer AB on 29 February 2012 was 33,727,306.
This report has not been subject to review by the company's auditors.
The full net asset value report with the portfolio as of 29 February 2012 is included in the attached pdf-file.
Contact information:
Mia Jurke, CEO, East Capital Explorer, +46 8 505 885 32 Charlotte Åsberg, Investor Relations Manager, East Capital Explorer, +46 8 505 885 94
Financial reporting calendar - East Capital Explorer:
- Monthly Net Asset Value report on the fifth working day after the end of each month
- Annual Report 2011 available in April 2012
- Annual General Meeting 2012 on 25 April 2012
- Interim Report 1 January 31 March 2012, 8 May 2012
- Interim Report 1 January 30 June 2012, 7 August 2012
- Interim Report 1 January 30 September 2012, 9 November 2012
About East Capital Explorer - East Capital Explorer AB (publ) 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 special fund products as well as in direct investments into private and public companies. 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. East Capital Explorer is listed on NASDAQ OMX Nordic Stockholm, Mid Cap.
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act and demands made in the exchange rules. It was released for publication at 07:00 a.m. CET on 7 March 2012.