East Capital Explorer AB - Report of repurchase of own shares in East Capital Explorer
(Thomson Reuters ONE) -
East Capital Explorer AB hereby reports that the Company, in accordance with the
decision of the Board regarding the utilization of the authorization to
repurchase own shares as announced on 12 October 2011, has repurchased an
additional 17,600 shares during the period 28-30 March 2012 at an average price
of SEK 55.65 per share.
The repurchase program allowed the Company to buy back own shares from 15
September 2011 up and until 30 March 2012. During this period, East Capital
Explorer has repurchased a total of 1,141,969 shares at an average price of SEK
51.69 per share. Before 15 September 2011 the Company did not hold any own
shares. The total number of shares in East Capital Explorer, including shares
owned by the Company, amount to 34,851,675.
Mia Jurke, CEO East Capital Explorer, says: "The board decided in September to
utilize the mandate for repurchase of shares given by the AGM in 2011 on the
back of an increase of the share discount on NAV. In total, 3.3% of the
outstanding shares have been repurchased during the program. We are convinced
that the long term value for our shareholders will be provided by our
investments, but the share buybacks has been a way to increase the value for our
shareholders in the short term."
The Board of East Capital Explorer has proposed to the AGM 2012 on 25 April to
cancel the shares that have been repurchased under the existing authorization.
The Board has also proposed for the AGM 2012 to resolve on a new authorization
for the Board to repurchase the Company's own shares that may be utilized until
the AGM 2013.
Contact information:
Mia Jurke, CEO East Capital Explorer, +46 8 505 885 32
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
- 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 as
Investment Manager of the Company's investments. 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 2 April 2012.
120402 - Press Release:
http://hugin.info/143006/R/1599188/504499.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: East Capital Explorer AB via Thomson Reuters ONE
[HUG#1599188]
Unternehmensinformation / Kurzprofil:
Datum: 02.04.2012 - 07:01 Uhr
Sprache: Deutsch
News-ID 130701
Anzahl Zeichen: 3931
contact information:
Town:
Stockholm
Kategorie:
Business News
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