ENR RUSSIA INVEST SA ANNOUNCES ATTRIBUTABLE NET ASSET VALUE PER SHARE AT END THIRD QUARTER 2016 AND UPDATED INVESTMENT GUIDELINES
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ENR Russia Invest SA /
ENR RUSSIA INVEST SA ANNOUNCES ATTRIBUTABLE NET ASSET VALUE PER SHARE AT END
THIRD QUARTER 2016 AND UPDATED INVESTMENT GUIDELINES
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The issuer is solely responsible for the content of this announcement.
("Company")
Press Release
Geneva, 24 October 2016
ENR RUSSIA INVEST SA ANNOUNCES ATTRIBUTABLE NET ASSET VALUE PER SHARE AT END
THIRD QUARTER 2016 AND UPDATED INVESTMENT GUIDELINES
ATTRIBUTABLE NET ASSET VALUE PER SHARE AT END THIRD QUARTER 2016
At 30 September 2016 the unaudited attributable net asset value of ENR Russia
Invest SA was CHF 17.51 per share.
UPDATED INVESTMENT GUIDELINES
On 24 October 2016 the board of directors of the Company approved updated
investment guidelines for the Company. The updated investment guidelines are as
follows:
"... ENR RUSSIA INVEST SA INVESTMENT GUIDELINES
1. Investment Objective
To invest in private and public companies across different industry sectors
as well as the real estate sector and to do so predominately in Russia and
other Commonwealth of Independent States countries and in the Baltic States
and to manage the asset portfolio to achieve long term capital appreciation
on invested capital.
2. Investment Policy
The investment philosophy is growth-oriented and the focus is primarily on
longer term strategies and capital appreciation. However, from time to time
there may be certain investments which have a shorter investment horizon,
reflecting specific opportunities or taking account of prevailing market
conditions. At times the asset portfolio may comprise entirely of cash or
cash equivalents.
3. Investment Instruments
Investments will be done primarily through equity and/or equity related
and/or debt instruments or derivatives instruments.
Where capital resources have not been not fully invested, same may be
invested in a range of investment products, money market instruments,
investment instruments issued by governments, financial institutions or
companies, denominated in the currency of the country where investments are
made or in any freely convertible currency. The Company may take temporary
defensive positions if the investment manager determines that opportunities
for capital appreciation are limited or that significant diminutions in
value may occur.
From time to time all or part of risks associated with investments may be
hedged through the defensive use of derivative transactions, including, but
not limited to, futures, options, swaps or any combination thereof.
From time to time leverage may be used in a manner commensurate with
reasonable risk management to achieve investment objectives.
4. Investment Process and Factors considered
While investment criteria may vary depending upon the type of transaction,
factors taken into consideration when analysing potential investments
include:
* Attractive valuations and purchase prices;
* Strength, depth and commitment of the management team;
* Existence of a coherent and realistic long term business plan;
* Relevant asset values;
* Corporate governance issues;
* Identifiable exit strategies;
* Risk management; and
* Active post-acquisition investment approach.
Investment opportunities will be identified and analysed by the investment
manager or its delegates or agents within the framework of the investment
guidelines. The investment manager or its delegates or agents will manage
the screening process and, inter alia, conduct interviews with management
and owners with the objective of aligning differing interests. The
investment manager's responsibilities include valuations, market analyses,
competition analyses, debt capacity calculations, bid tactics, tax
optimizing holding structures, financing structures, raising of debt
finance, management incentives, personnel reinforcements required, due
diligence processes and the intended exit strategy.
Day-to-day investment decisions will be made by the investment committee in
accordance with the investment guidelines, as determined by the board of
directors
5. Amendments
The investment guidelines may be amended by the board of directors at any
time, in whole or in part. Amendments will become effective upon their
approval by the board of directors (after expiry of any notice period for
regulatory publications which may be required). The Company may from time
to time impose further investment restrictions, compatible with or in the
interest of investors, or, in certain circumstances, in order to comply
with relevant country laws and regulations.
Resolved by the board of directors on 24 October 2016 ..."
Pursuant to listing rules of SIX Swiss Exchange updated investment guidelines
have to be published at least one month prior to their entry into force.
Consequently the Company's updated investment guidelines will come into force on
26 November 2016.
The updated investment guidelines are also available on ENR's website at
www.enr.ch.
Contact person: Ben de Bruyn, ENR Russia Invest SA, tel: +41 22 510 2626
ENR Russia Invest SA is an investment company listed on the SIX Swiss Exchange.
It specialises in the management of equities and equity-like investments, real
estate as well as fixed income instruments in Russia, other members of the
Commonwealth of Independent States and the Baltic States. Additional information
on ENR Russia Invest is available on the company website www.enr.ch
Media release (PDF):
http://hugin.info/143040/R/2050968/767270.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ENR Russia Invest SA via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 24.10.2016 - 18:30 Uhr
Sprache: Deutsch
News-ID 502410
Anzahl Zeichen: 7518
contact information:
Town:
Geneva
Kategorie:
Business News
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