East Capital Explorer AB to receive second distribution from East Capital Special Opportunities Fund
(Thomson Reuters ONE) -
East Capital Explorer is expected to receive approximately EUR 10m from the East
Capital Special Opportunities Fund in mid-July, which will be immediately
available for future investments.
East Capital Special Opportunities Fund was launched in 2009 to take advantage
of investment opportunities that arose from the financial crisis and depressed
valuations. In line with the strategy of the fund, all proceeds on divestments
after three years from inception are distributed to the investors. The fund has
now successfully divested a number of holdings including TEO LT, Sollers and
Armada, enabling it to distribute cash to investors.
Mia Jurke, CEO of East Capital Explorer AB says: "As an active investor, we
found the strategy of the fund appealing, taking advantage of the specific
market situation in 2009. We are pleased to see that the Investment Manager has
realized a good return on the fund's underlying investments as well as for East
Capital Explorer"
East Capital Explorer invested EUR 10m in East Capital Special Opportunities
Fund in May 2009 and another EUR 25m in July 2009, for a total investment of EUR
35m. This distribution will be the second in this fund. The first distribution
was made in early April 2011, well timed ahead of the euro crisis and amounted
to EUR 12.7m. As of 31 May 2012, the Company's investment in the fund was valued
at EUR 32.2m which made it the third largest investment in the portfolio and
accounted for 11% of NAV. Since East Capital Explorer's initial investment until
the end of May 2012, the investment in the fund has generated an annual return
on invested capital of 9.7%.
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
* 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 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 13 June 2012.
120613 - Press Release:
http://hugin.info/143006/R/1619277/517171.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#1619277]
Unternehmensinformation / Kurzprofil:
Datum: 13.06.2012 - 07:02 Uhr
Sprache: Deutsch
News-ID 155869
Anzahl Zeichen: 3887
contact information:
Town:
Stockholm
Kategorie:
Business News
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"East Capital Explorer AB to receive second distribution from East Capital Special Opportunities Fund"
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