East Capital Explorer AB - Interim Report 1 January - 30 June 2013
(Thomson Reuters ONE) -
Events during the second quarter
· Net asset value (NAV) per share on 30 June 2013 amounted to EUR 8.92 (EUR
8.60)(1), corresponding to a change of -4.1% (-9.7%) during the second quarter.
Since 30 June 2012, the NAV per share increased by 3.8% (-20.8%)(2)
· For the first six months, the net result for the Group was EUR -5.7m (EUR
-0.1m), including EUR -5.5m (EUR 1.5m) changes in value on investments. Earnings
per share amounted to EUR -0.18 (EUR 0.00)
· Cash, cash equivalents and other short term investments on 30 June 2013
amounted to EUR 8m (EUR 57m)
· During April, East Capital Explorer received two payouts, a distribution of
EUR 9.4m from the East Capital Power Utilities Fund, and a distribution of EUR
3.1m from the East Capital Special Opportunities Fund. Due to the liquidation of
East Capital Power Utilities Fund, the Fund is no longer reported separately as
the remaining holding in the Fund is limited and will shortly be divested
· On 24 April, the AGM of East Capital Explorer decided not to pay any dividend
due to the ongoing redemption program, which runs until 2015. The Company has
chosen to focus on one clear distribution strategy and the redemption program
is, therefore, seen to replace the Company's dividend policy during the period
in which the program is in effect
· On 2 May, East Capital Explorer received a dividend of EUR 0.4m from
Komercijalna Banka Skopje
· On 3 May, East Capital Explorer announced its acquisition of a majority stake
in Starman, the leading cable TV, broadband internet and voice cable services
provider in Estonia, and the transaction was completed on 30 May. East Capital
Explorer has invested EUR 23.6m into Starman for a 51% stake in the company.
Starman is managed as a subsidiary of East Capital Explorer and is consolidated
into the Group as of 30 May 2013
· During May, East Capital Explorer divested its entire holding of EUR 4.5m in
East Capital (LUX) Eastern European Fund
· As announced on 21 May, the Company is exiting East Capital Bering New Europe
Fund and received the first payout of EUR 5.8m. The remaining holding in the
Fund is expected to be distributed before year-end
· On 29 May, a drawdown of EUR 0.7m was made for previously committed capital to
East Capital Baltic Property Fund II for the acquisition of a retail property in
Latvia
· In June, East Capital Explorer received a dividend of EUR 1.2m from Melon
Fashion Group
· The closing price of the East Capital Explorer share as of 30 June 2013 was
SEK 45.80 (corresponding to EUR 5.25)
--------------------------------------------------------------------------------
(1 )Comparable figures for the corresponding period 2012 are stated in
parentheses
(2)Adjusted for dividend
130829 - Q2 Report 2013:
http://hugin.info/143006/R/1725506/575437.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#1725506]
Unternehmensinformation / Kurzprofil:
Datum: 29.08.2013 - 07:01 Uhr
Sprache: Deutsch
News-ID 291936
Anzahl Zeichen: 3746
contact information:
Town:
Stockholm
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 257 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"East Capital Explorer AB - Interim Report 1 January - 30 June 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
East Capital Explorer AB (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
