AI assistant
Eastnine — Net Asset Value 2010
Jun 7, 2010
3037_rns_2010-06-07_97c119a3-16f3-4e68-aaea-e64f35618578.pdf
Net Asset Value
Open in viewerOpens in your device viewer
PRESS RELEASE
Stockholm, 7 June 2010
Net Asset Value SEK 108 per share on 31 May 2010
- On 31 May 2010 the net asset value per share in East Capital Explorer amounted to EUR 11.27 (corresponding to SEK 108i ). The total net asset value amounted to EUR 393m (corresponding to SEK 3.8bn)
- The total net asset value (EUR) decreased 5.8 percent compared to 30 April 2010
- The value of cash, cash equivalents and other short term investments per share amounted to EUR 1.61 (SEK 15), corresponding to a total of EUR 56m (SEK 538m) of which EUR 28m (SEK 264m) is available for future investments
- The closing price per share on 31 May 2010 was SEK 77.25 (corresponding to EUR 8.04)
| % Fair value change |
% Fair value change |
Fair value per share, |
Fair value, |
% of |
|
|---|---|---|---|---|---|
| Portfolio on 31 May 2010 | May | 2010 | EUR | MEUR | NAV |
| Fund Investments | |||||
| East Capital Bering Russia | -7.0% | 23.2% | 1.17 | 41 | 10% |
| East Capital Bering Ukraine A | -15.8% | 9.2% | 0.21 | 7 | 2% |
| East Capital Bering Ukraine R | 5.6% | 10.7% | 0.17 | 6 | 1% |
| East Capital Bering Balkan | -16.0% | 1.9% | 1.03 | 36 | 9% |
| East Capital Bering Central Asia | -4.5% | 8.8% | 0.66 | 23 | 6% |
| East Capital Bering New Europe | -9.2% | 3.3% | 0.50 | 17 | 4% |
| East Capital Power Utilities Fund | -3.3% | 38.2% | 2.91 | 101 | 26% |
| East Capital Special Opportunities Fund | -10.5% | 30.8% | 1.47 | 51 | 13% |
| East Capital Russian Property Fund1 | 0.59 | 21 | 5% | ||
| East Capital (Lux) Eastern European Fund (EUR) | -7.0% | 15.0% | 0.38 | 13 | 3% |
| -7.1% | 20.4% | 9.09 | 317 | 81% | |
| Direct Investments | |||||
| OAO Melon Fashion Group (MFG) | 0.0% | 0.0% | 0.30 | 10 | 3% |
| TEO LT, AB2 | -3.5% | 21.8% | 0.28 | 10 | 2% |
| -1.7% | 9.5% | 0.58 | 20 | 5% | |
| Short-term Investments1,3 | |||||
| Short-term investments | 1.21 | 42 | 11% | ||
| Cash and cash equivalents | 0.40 | 14 | 4% | ||
| 1.61 | 56 | 14% | |||
| Total Portfolio | 11.28 | 393 | 100% | ||
| Other assets and liabilities net | -0.01 | 0 | 0% | ||
| Net Asset Value (NAV) | -5.8% | 15.0% | 11.27 | 393 | 100% |
1EUR 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 21.5m have been made in anticipation of future investments. EUR 0.4m has been used to cover costs in the fund. The remaining committed EUR 18.5m is still held in short term investments.
Financials Fund. On 11 May, an additional investment of EUR 5m into the East Capital Bering Balkan fund was announced. These funds are committed but still held in short term investments.
Note that certain numerical information may not sum due to rounding.
2 Fair value change calculation adjusted to reflect the reception of EUR 0.9m after tax as dividend from TEO LT in May. 3 On 25 January 2010, the company announced an investment of EUR 5m together with Intrum Justitia and East Capital
i EUR 1 = SEK 9.60 on 31 May 2010. Source: Reuters.
The total number of shares outstanding in East Capital Explorer AB on 31 May was 34 851 675.
This report has not been subject to review by the Company's auditors.
The full net asset value report including the portfolio on 31 May 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 30 June 2010, 20 August 2010
- Interim Report 1 January 31 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 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 or demands made in the exchange rules.