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Eastnine — Net Asset Value 2012
Dec 7, 2012
3037_rns_2012-12-07_73738753-15d6-4f72-aeb9-e34c2cead181.pdf
Net Asset Value
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PRESS RELEASE
Stockholm, 7 December 2012
Net Asset Value SEK 77 per share on 30 November 2012
- On 30 November 2012 the net asset value per share in East Capital Explorer AB amounted to EUR 8.86 (corresponding to SEK 77i ). The total net asset value amounted to EUR 293m (corresponding to SEK 2.5bn)
- The total net asset value (EUR) decreased by 0.5 percent compared to 31 October 2012
- The value of cash, cash equivalents and other short term investments per share amounted to EUR 1.23 (SEK 11), corresponding to an aggregate of EUR 41m (SEK 352m) of which EUR 14m (SEK 123m) were available for future investments
- On 27 November 2012, East Capital Explorer divested EUR 4.2m in East Capital (LUX) Eastern European Fund
- As announced on 30 November 2012, the Company decided to invest an additional EUR 10m into the East Capital Baltic Property Fund II in conjunction with the fund's second investment into an attractively located shopping centre in Vilnius
- The Board of Directors' proposed redemption program for 2013 was approved by the Extraordinary General Meeting of East Capital Explorer on 4 December 2012. The program means that up to 5% of the Company's outstanding shares will be redeemed at SEK 77 (NAV per share as of 31 October 2012), corresponding to a yield of 8%
- The closing price per share on 30 November 2012 was SEK 50.50 (corresponding to EUR 5.84)
| % Fair1 value change |
% Fair1 value change |
Fair value per share, |
Fair value, |
% | |
|---|---|---|---|---|---|
| Portfolio on 30 November 2012 | November | 2012 | EUR | EURm | of NAV |
| Fund Investments | |||||
| East Capital Bering Balkan Fund | 0.0% | 0.2% | 1.16 | 38.2 | 13% |
| East Capital Bering Russia Fund | 1.4% | -1.9% | 0.83 | 27.5 | 9% |
| East Capital Power Utilities Fund | -0.4% | -10.5% | 0.77 | 25.4 | 9% |
| East Capital Special Opportunities Fund | 0.1% | 9.2% | 0.65 | 21.4 | 7% |
| East Capital Special Opportunities Fund II | -1.4% | -18.6% | 0.61 | 20.2 | 7% |
| East Capital Bering Central Asia Fund | -5.7% | 12.2% | 0.56 | 18.6 | 6% |
| East Capital Russia Domestic Growth Fund | -1.7% | -6.4% | 0.43 | 14.0 | 5% |
| East Capital Bering New Europe Fund | -1.3% | 6.0% | 0.39 | 12.8 | 4% |
| East Capital Baltic Property Fund II | 0.0% | 4.7% | 0.27 | 9.0 | 3% |
| East Capital Bering Ukraine Fund R | -0.4% | 3.0% | 0.17 | 5.7 | 2% |
| East Capital (Lux) Eastern European Fund | 0.0% | 13.9% | 0.13 | 4.3 | 1% |
| East Capital Bering Ukraine Fund A | -2.1% | -30.8% | 0.12 | 3.9 | 1% |
| -0.8% | -2.0% | 6.08 | 200.9 | 69% | |
| Direct Investments | |||||
| Melon Fashion Group | 0.0% | 37.1% | 1.06 | 34.9 | 12% |
| Komercijalna Banka Skopje | 0.3% | -1.7% | 0.27 | 8.9 | 3% |
| Trev-2 Group | 0.0% | 33.9% | 0.23 | 7.5 | 3% |
| East European Debt Finance (EEDF) | 2.0% | 12.2% | 0.04 | 1.3 | 0% |
| 0.1% | 24.8% | 1.59 | 52.6 | 18% | |
| Short-term Investments | |||||
| Cash and cash equivalents | 1.23 | 40.7 | 14% | ||
| 1.23 | 40.7 | 14% | |||
| Total Portfolio | 8.91 | 294.2 | 101% | ||
| Other assets and liabilities net | -0.05 | -1.6 | -1% | ||
| Net Asset Value (NAV) | -0.5% | -0.3% | 8.86 | 292.6 | 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 plus 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.
Excluding shares held by the company following buy-backs, the number of shares outstanding in East Capital Explorer on 30 November 2012 was 33,024,545.
This report has not been subject to review by the company's auditors.
The full net asset value report with the portfolio as of 30 November 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
- Year-end Report 2012, 14 February 2013
- Annual Report 2012 available in April 2013
- Annual General Meeting 2012 on 24 April 2013
- Interim Report, 1 January 31 March 2013 on 9 May 2013
- Interim Report, 1 January 30 June 2013 on 14 August 2013
- Interim Report, 1 January 30 September 2013 on 11 November 2013
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 but it also makes direct investments into private and public companies. East Capital Explorer targets fast growing sectors such as Power Utilities, Financials, Retail and Consumer Goods and Real Estate. 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 December 2012.
i 1 EUR = 8.65 SEK on 30 November 2012. Source: Bloomberg