East Capital Explorer AB - Interim Report 1 January - 30 June 2012
(Thomson Reuters ONE) -
Net asset value (NAV) per share on 30 June 2012 amounted to EUR 8.60 (EUR
10.97). The total net asset value amounted to EUR 290m (EUR 382m), corresponding
to a decrease of 9.7% (-9.1%) during the second quarter. Since 30 June 2011 the
net asset value decreased 24.1%(3) (-0.3%)
For the first six months, the net result for the Group was EUR -3.2m (EUR
-40.1m). For the shareholders of the Parent Company the net result was EUR -1.4m
(EUR -34.7m) and earnings per share amounted to EUR -0.04 (EUR -1.00)
Cash, cash equivalents and other short term investments on 30 June 2012 amounted
to EUR 57m (EUR 66m) of which EUR 49m (EUR 61m)were available for future
investments
In April, the AGM of East Capital Explorer approved the Board's proposal to pay
a dividend to the shareholders of SEK 0.80 per share. The AGM also approved the
Board's proposal to cancel the 1,141,969 shares previously repurchased and the
shares were cancelled in the end of June. The AGM also decided on a new
repurchase mandate for the Board
In May, East Capital Explorer divested its entire holding in TEO LT to
TeliaSonera. In total, the Company received EUR 19.5m including dividend, EUR
1.6m higher than the value as of 31 March, and realized an annualized pre-tax
return of 17.4%
The earlier announced investment of EUR 10m in the East Capital Baltic Property
Fund II took place on 2 May
The mandatory takeover offer in Melon Fashion Group (MFG) was completed during
the second quarter and the number of shares tendered was limited, corresponding
to a total purchase price of EUR 5.4m
A revaluation of East Capital Explorer's direct investment in MFG was made
during May. As a result, on 31 May the fair value of the holding amounted to EUR
34m, corresponding to an increase of 48%
During June, East Capital Explorer announced two distributions from its fund
investments. The Company received its third distribution from the East Capital
Power Utilities Fund amounting to
EUR 7.3m in June and a second distribution of EUR 10.6m from the East Capital
Special Opportunities Fund which was paid out in mid-July
The closing price of the East Capital Explorer share as of 30 June 2012 was SEK
47.50 (corresponding to EUR 5.42)
ECEX Q2 2012 Report:
http://hugin.info/143006/R/1632190/523467.pdf
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(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#1632190]
Unternehmensinformation / Kurzprofil:
Datum: 07.08.2012 - 07:02 Uhr
Sprache: Deutsch
News-ID 172007
Anzahl Zeichen: 3120
contact information:
Town:
Stockholm
Kategorie:
Business News
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"East Capital Explorer AB - Interim Report 1 January - 30 June 2012"
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East Capital Explorer AB (Nachricht senden)
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