East Capital initiates renewal of the agreement with East Capital Explorer
(Thomson Reuters ONE) -
East Capital and East Capital Explorer today announce that East Capital, in the
capacity of East Capital Explorer's Investment Manager, has taken the initiative
to review the setup between the two companies, as defined by the Investment
Agreement. The outcome will be presented no later than by year-end 2015.
"East Capital Explorer has over the past three years undergone a significant
shift. The strategy is narrowed in its scope from the original strategy set out
in 2007, and is now only focused on Private Equity and Real Estate investments.
It is therefore the right time to mutually review the setup to reflect the new
circumstances", said Peter Elam Håkansson, Chairman of East Capital.
"The Board of East Capital Explorer welcomes East Capital's initiative. Our aim
is to ensure a structure that is straight forward and transparent, with fair
terms and incentives that are clearly aligned with the interests of our
shareholders", said Lars O Grönstedt, Chairman of East Capital Explorer.
The Investment Agreement, originally entered in 2007, prescribes the terms and
conditions upon which the investment activities within East Capital Explorer
shall be performed. It stipulates the allocation of duties and responsibilities
between East Capital and East Capital Explorer, as well as the level, timing and
basis for the compensation to East Capital for managing East Capital Explorer's
investment portfolio.
Contact information
Lena Krauss, CFO and Head of Investor Relations, East Capital Explorer,
+46 73 988 44 66
About East Capital
East Capital is a specialist in emerging and frontier markets. The company,
founded in 1997, bases its investment strategy on thorough knowledge of the
markets, fundamental analysis and frequent company visits by its investment
teams. East Capital manages SEK 23bn in public equity, private equity and real
estate. It is headquartered in Stockholm with offices in Hong Kong, Luxembourg,
Moscow, Oslo and Tallinn. www.eastcapital.com
About East Capital Explorer
East Capital Explorer AB (publ) is a Swedish investment company, created with
the specific aim of bringing unique investment opportunities in Eastern Europe
to a broader investor base. The company makes direct investments into private
and public companies as well as real estate, but investments are also made
through East Capital's alternative investment funds. East Capital Explorer's
main investment theme is domestic growth and the Company targets fast growing
sectors such as Retail and Consumer goods, Financials and Real Estate. East
Capital Explorer has appointed East Capital to manage its investment activities.
East Capital Explorer is listed on Nasdaq Stockholm, Mid Cap.
Listing: Nasdaq Stockholm, Mid Cap - Ticker: ECEX - ISIN: SE0002158568 -
Reuters: ECEX.ST - Bloomberg: ECEX SS Equity
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 08:00 a.m. CET on 21 September 2015.
150921 - Press Release:
http://hugin.info/143006/R/1953347/710807.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1953347]
Unternehmensinformation / Kurzprofil:
Datum: 21.09.2015 - 08:01 Uhr
Sprache: Deutsch
News-ID 421342
Anzahl Zeichen: 4065
contact information:
Town:
Stockholm
Kategorie:
Business News
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"East Capital initiates renewal of the agreement with East Capital Explorer"
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