East Capital Explorer makes partial exit from East Capital Special Opportunities Fund
(Thomson Reuters ONE) -
East Capital Explorer is expected to receive EUR 12.7m from the East Capital
Special Opportunities Fund in early April, which will be immediately available
for future investments. The East Capital Special Opportunities Fund has
successfully divested most of its holding in Fondul Proprietata, which during
2010 was the single largest holding in the Fund, enabling it to distribute cash
to investors.
Gert Tiivas, CEO of East Capital Explorer AB says: "As an active investor, we
are pleased to announce yet another exit as we constantly seek to maximize
returns for our shareholders. The investment manager has realized good return on
its holding in Fondul Propriatatea after it had increased by 138% in 2010 and
further 25% in 2011."
2010 was a successful year for the fund in its entirety. The value per fund unit
increased 49% during the period. Since inception in May 2009 until the end of
February 2011, the value of the fund increased with 67%.
East Capital Explorer AB invested EUR 10m in the fund in May of 2009 and another
EUR 25m in in July of 2009, for a total investment of EUR 35m. As of the end of
February 2011 the company's investment in the fund was valued at EUR 60.1m,
which made it the second largest investment in the portfolio and accounted for
14% of the net asset value.
Contact information:
Gert Tiivas, CEO East Capital Explorer +46 8 505 977 30
Financial reporting calendar - East Capital Explorer:
* Monthly Net Asset Value report on the fifth working day after the end of
each month
* Annual General Meeting 2011 on 12 April 2011
* Interim Report, 1 January - 31 March 2011 on 6 May 2011
* Interim Report, 1 January - 30 June 2011 on 5 August 2011
* Interim Report, 1 January - 30 September 2011 on 11 November 2011
About East Capital Explorer - East Capital Explorer AB is a Swedish company,
created with the specific aim of bringing unique investment opportunities in
Eastern Europe to a broader investor base. The company invests mainly in East
Capital's private equity and semi-public equity funds that provide exposure to
companies not otherwise accessible via the local stock exchanges in Eastern
Europe. East Capital Explorer targets fast growing sectors such as the power
utilities, financial, retail and consumer goods and real estate sectors. East
Capital Explorer has appointed East Capital to manage its investment activities.
Since 9 November 2007, East Capital Explorer is listed on NASDAQ OMX Stockholm,
Mid Cap.
This information is disclosed in accordance with the Securities Markets Act, the
Financial Instruments Trading Act or demands made in the exchange rules. It was
released for publication at 7:00 a.m. CET on 28 March 2011.
ECEX pressrelease 2011-03-28 (PDF):
http://hugin.info/143006/R/1500636/436000.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#1500636]
Unternehmensinformation / Kurzprofil:
Datum: 28.03.2011 - 07:04 Uhr
Sprache: Deutsch
News-ID 52837
Anzahl Zeichen: 3671
contact information:
Town:
Stockholm
Kategorie:
Business News
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"East Capital Explorer makes partial exit from East Capital Special Opportunities Fund"
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