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Eastnine — Net Asset Value 2010
Nov 5, 2010
3037_rns_2010-11-05_a6479559-d4e7-45d5-9336-86349d2a6583.pdf
Net Asset Value
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Stockholm, 5 November 2010
Net Asset Value SEK 106 per share on 31 October 2010
- On 31 October 2010 the net asset value per share in East Capital Explorer amounted to EUR 11.43 (corresponding to SEK 106i ). The total net asset value amounted to EUR 398m (corresponding to SEK 3.7bn)
- The total net asset value (EUR) increased 0.3 percent compared to 30 September 2010
- During October East Capital Explorer further increased its holding in TEO, buying additional shares for EUR 1.5m
- The value of cash, cash equivalents and other short term investments per share amounted to EUR 1.50 (SEK 14), corresponding to an aggregate of EUR 52m (SEK 487m) of which EUR 36m (SEK 335m) were available for future investments
- The closing price per share on 31 October 2010 was SEK 74 (corresponding to EUR 7.96)
| % Fair1 value |
% Fair1 value |
Fair value per |
Fair | ||
|---|---|---|---|---|---|
| change | change | share, | value, | % | |
| Portfolio on 31 October 2010 | October | 2010 | EUR | EURm | of NAV |
| Fund Investments | |||||
| East Capital Bering Russia | -1.6% | 12.1% | 1.07 | 37.1 | 9% |
| East Capital Bering Ukraine A | -5.1% | 4.0% | 0.20 | 7.0 | 2% |
| East Capital Bering Ukraine R | -2.0% | 3.3% | 0.16 | 5.5 | 1% |
| East Capital Bering Balkan | -3.8% | 2.5% | 1.18 | 41.3 | 10% |
| East Capital Bering Central Asia | 4.2% | 5.4% | 0.63 | 22.1 | 6% |
| East Capital Bering New Europe | 0.4% | 10.1% | 0.53 | 18.5 | 5% |
| East Capital Power Utilities Fund | 1.2% | 45.2% | 2.48 | 86.3 | 22% |
| East Capital Special Opportunities Fund | -0.3% | 34.2% | 1.51 | 52.7 | 13% |
| East Capital Special Opportunities Fund II | 0.7% | 0.7% | 1.01 | 35.2 | 9% |
| East Capital (Lux) Eastern European Fund | 4.0% | 24.2% | 0.41 | 14.2 | 4% |
| 0.0% | 22.1% | 9.18 | 320.0 | 80% | |
| Direct Investments | |||||
| OAO Melon Fashion Group (MFG) | 0.0% | 0.0% | 0.30 | 10.4 | 3% |
| TEO LT, AB | 3.3% | 37.3% | 0.38 | 13.2 | 3% |
| East European Debt Finance2 | -2.7% | -10.3% | 0.01 | 0.3 | 0% |
| Populi | -1.7% | -1.7% | 0.10 | 3.6 | 1% |
| 1.3% | 35.1% | 0.79 | 27.5 | 7% | |
| Short-term Investments2 | |||||
| Short-term Investments (incl. bonds) | 0.82 | 28.5 | 7% | ||
| Cash and cash equivalents | 0.69 | 23.9 | 6% | ||
| 1.50 | 52.4 | 13% | |||
| Total Portfolio | 11.48 | 399.9 | 100% | ||
| Other assets and liabilities net | -0.05 | -1.7 | 0% | ||
| Net Asset Value (NAV) | 0.3% | 17.0% | 11.43 | 398.2 | 100% |
1) Fair value change calculation adjusted to reflect additional investments of EUR 5m into East Capital Bering Ukraine Class A and East Capital Bering Balkan, EUR 3.7m investment into Populi, and EUR 35m investment into East Capital Special Opportunities Fund II, further investments in TEO of EUR 1.5m as well as the receipt of EUR 0.7m as after tax dividend from TEO LT, and the receipt of EUR 20.3m as dividend from East Capital Power Utilities Fund.
2) In January 2010, the company announced an investment of EUR 5m in East European Debt Finance together with Intrum Justitia and East Capital Financials Fund. At the end of October EUR 0.3m had been drawn down. The remaining commitment is still held in short term investments.
Note that certain numerical information may not sum due to rounding.
i 1 EUR = 9.30 SEK on 29 October 2010. Source: Bloomberg
The total number of shares outstanding in East Capital Explorer AB on 31 October was 34,851,675.
This report has not been subject to review by the company's auditors.
The full net asset value report with the portfolio as of 31 October 2010 is included in the attached pdf-file.
Contact information:
Gert Tiivas, CEO East Capital Explorer +46 8 505 977 30 Mathias Pedersen, CFO East Capital Explorer +46 8 505 977 48
Financial reporting calendar - East Capital Explorer:
- Monthly Net Asset Value report on the fifth working day after the end of each month
- Interim Report 1 January 31 September 2010, 11 November 2010
- Year-end Report 2010, 16 February 2011
- Annual Report 2010 available in the week of 28 Mars 2011
- Annual General Meeting 2011 on 12 April 2011
- Interim Report 1 January 31 March 2011, 10 May 2011
- Interim Report 1 January 30 June 2011, 26 August 2011
- Interim Report 1 January 30 September 2011, 9 November 2011
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 semipublic 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 and demands made in the exchange rules.