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Eastnine — Net Asset Value 2011
Jun 9, 2011
3037_rns_2011-06-09_6210d8cf-9f69-4caa-9d63-d094d7f75b1f.pdf
Net Asset Value
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Net Asset Value SEK 100 per share on 31 May 2011
- On 31 May 2011 the net asset value per share in East Capital Explorer amounted to EUR 11.27 (corresponding to SEK 100i ). The total net asset value amounted to EUR 393m (corresponding to SEK 3.5bn)
- The total net asset value (EUR) decreased 2.0 percent compared to 30 April 2011
- The value of cash, cash equivalents and other short term investments per share amounted to EUR 1.67 (SEK 15), corresponding to an aggregate of EUR 58m (SEK 518m). EUR 53m (SEK 471m) of those were available for future investments
- In May East Capital Explorer received a pre-tax dividend of EUR 1.2m from TEO LT
- The closing price per share on 31 May 2011 was SEK 72.50 (corresponding to EUR 8.16)
| % Fair1 value change |
% Fair1 value change |
Fair value per share, |
Fair value, |
% | |
|---|---|---|---|---|---|
| Portfolio on 31 May 2011 | May | 2011 | EUR | EURm | of NAV |
| Fund Investments | |||||
| East Capital Bering Russia | -2.2% | -10.9% | 1.09 | 38.2 | 10% |
| East Capital Bering Ukraine A | 0.4% | -2.2% | 0.22 | 7.7 | 2% |
| East Capital Bering Ukraine R | 2.6% | -8.2% | 0.17 | 5.8 | 1% |
| East Capital Bering Balkan | -2.3% | 5.3% | 1.42 | 49.5 | 13% |
| East Capital Bering Central Asia | -0.6% | -12.2% | 0.64 | 22.3 | 6% |
| East Capital Bering New Europe | -1.2% | -1.4% | 0.54 | 18.8 | 5% |
| East Capital Power Utilities Fund | -7.0% | -21.4% | 1.52 | 53.1 | 14% |
| East Capital Special Opportunities Fund | -2.9% | -7.8% | 1.19 | 41.5 | 11% |
| East Capital Special Opportunities Fund II | -1.2% | -0.2% | 1.06 | 37.0 | 9% |
| East Capital (Lux) Eastern European Fund | -4.0% | -2.5% | 0.29 | 10.0 | 3% |
| -2.7% | -8.7% | 8.15 | 283.9 | 72% | |
| Direct Investments | |||||
| Melon Fashion Group | 0.0% | 0.0% | 0.40 | 13.8 | 4% |
| TEO LT | -4.6% | -9.0% | 0.39 | 13.6 | 3% |
| East European Debt Finance (EEDF)2 | 0.7% | 4.1% | 0.01 | 0.3 | 0% |
| Populi | 0.0% | -37.6% | 0.07 | 2.5 | 1% |
| Wimm-Bill-Dann | -3.1% | -1.4% | 0.20 | 7.0 | 2% |
| Komercijalna Banka Skopje | 3.7% | 14.8% | 0.41 | 14.3 | 4% |
| -0.8% | -2.0% | 1.48 | 51.5 | 13% | |
| Short-term Investments2 | |||||
| Other short-term investments (incl. bonds) | 0.77 | 26.9 | 7% | ||
| Cash and cash equivalents | 0.90 | 31.4 | 8% | ||
| 1.67 | 58.3 | 15% | |||
| Total Portfolio | 11.31 | 393.8 | 100% | ||
| Other assets and liabilities net | -0.03 | -1.0 | 0% | ||
| Net Asset Value (NAV) | -2.1% | -8.6% | 11.27 | 392.7 | 100% |
1) Fair value change calculation adjusted to reflect investments in East Capital Bering Balkan Fund of EUR 5.0m, in TEO of EUR 1.1m, in Populi of EUR 0.3m, in Komercijalna Banka Skopje of EUR 13.0m, as well as divestments of EUR 5.0m from East Capital (Lux) Eastern European Fund, EUR 12.5m from East Capital Special Opportunities Fund, EUR 20.3m from East Capital Power Utilities Fund. It is also adjusted for pre-tax dividends of EUR 1.2m and EUR 0.7m received from TEO LT and Komercijalna Banka Skopje respectively.
2) In January 2010, the company announced an investment of EUR 5.0m in East European Debt Finance together with Intrum Justitia and East Capital Financials Fund. At the end of May 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.
The total number of shares outstanding in East Capital Explorer AB on 31 May 2011 was 34,851,675.
This report has not been subject to review by the company's auditors.
1 (2)
The full net asset value report with the portfolio as of 31 May 2011 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 2011 on 5 August 2011
- Interim Report, 1 January 30 September 2011 on 11 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 alternative investment funds 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. 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. It was released for publication at 07:00 a.m. CET on 9 June 2011.
i 1 EUR = 8.89 SEK on 31 May 2011. Source: Bloomberg