East Capital Explorer AB - Year-end Report 2014
(Thomson Reuters ONE) -
Key events during the fourth quarter
· On 22 December it was announced that Starman has entered into an agreement to
acquire 100 percent of Lithuanian cable-tv provider Cgates. The transaction has
received approval from competition authorities and closing is expected within
short. In connection to the acquisition, East Capital Explorer will make an
additional investment, of approximately EUR 23m, in Starman by participating in
a new share issue
· The fair value of the investment in Starman was appreciated by 16.2 percent to
EUR 39.5m and 3 Bures (former Vilnius Business Harbour) by 5.7 percent to EUR
24.2m, while Melon Fashion Group was impaired by 38.1 percent to EUR 35.1m and
Trev-2 by 10.0 percent to EUR 8.5m
· In December, East Capital New Markets Fund merged into East Capital Frontier
Markets Fund. The new holding is classified as a short-term investment. In
December, EUR 5.1m of the fund holding was redeemed
· The Board of East Capital Explorer will propose a redemption program to the
2015 AGM, whereby 5 percent of outstanding shares can be redeemed at SEK 83 per
share (NAV per share, 31 December 2014)
Financial results for the fourth quarter(1)
· The Group's net result for the fourth quarter 2014 was EUR -36.2m (25.3m),
including EUR -35.6m (25.8m) changes in value of investments. Quarterly
earnings per share amounted to EUR -1.21 (0.78) for the quarter
· Net Asset value (NAV) per share decrease by 12.2 percent during the quarter,
from EUR 9.94 to EUR 8.73 (9.85). The total NAV amounted to EUR 261m (309m)
· Cash, cash equivalents and other short term investments on 31 December
amounted to EUR 57.8m (20.3m)
· The closing price of the East Capital Explorer share as of 31 December 2014
was SEK 42.50, equivalent to EUR 4.49, a decrease of 8.8 percent from 30
September 2014
(1)Comparable figures in brackets refer to the corresponding period 2013
Contact information
Mia Jurke, CEO, +46 8 505 885 32
Lena Krauss, CFO and Head of Investor Relations, +46 8 505 885 94
Financial reporting calendar
· Annual Report 2014 available in March 2015
· Annual General Meeting 2015 - 21 Apr 2015
· Interim Report, Q1 2015 - 13 May 2015
· Interim Report, Q2 2015 - 20 Aug 2015
· Interim Report, Q3 2015 - 5 Nov 2015
The information in this year-end report is the information which East Capital
Explorer AB is required to disclose under Sweden's Securities Market Act. It was
released for publication at 08:00 a.m. CET on 12 February 2015.
ECEX Year-end Report 2014:
http://hugin.info/143006/R/1893868/671218.pdf
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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 GlobeNewswire
[HUG#1893868]
Unternehmensinformation / Kurzprofil:
Datum: 12.02.2015 - 08:01 Uhr
Sprache: Deutsch
News-ID 371139
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