358 0 Kommentare East Capital Explorer AB - Interim Report 1 January - 31 March 2013

Events during the first quarter

Net asset value (NAV) per share on 31 March 2013 amounted to EUR 9.30 (EUR 9.52)^[1], corresponding to an increase of 2.2% (9.6%) during the first quarter. Since 31 March 2012, the NAV per share decreased by 2.3% (-23.8%)
During the first quarter, the net result for the Group was EUR 6m (EUR 28m), including EUR 7m (EUR 29m) changes in value on investments. Earnings per share amounted to EUR 0.19 (EUR 0.81) during the quarter

The application period for East Capital Explorer's offer to redeem shares ended on 14 January. 1,600,286 shares were tendered for redemption during the redemption program, corresponding to an acceptance level of approximately 97%. Consequently, a total of SEK 123.2m (corresponding to EUR 14.3m) was paid out on 30 January to the shareholders who participated in the redemption program

In the end of January, the 685,111 shares that were repurchased by the Company during the fall of 2012 through the share buyback program and the 1,600,286 shares that were tendered for redemption during the redemption program were cancelled in accordance with the decision at the EGM

During the quarter, two additional investments of EUR 10m and EUR 15m respectively were made into East Capital Russia Domestic Growth Fund

Due to changed IFRS control requirements, East Capital Explorer is no longer required to consolidate its fund investments in those cases in which the Company was previously regarded as having controlling influence. This implies that starting from 2013, all Fund holdings will instead be reported at fair value in the financial statement

As announced on 13 February, Mia Jurke, CEO of East Capital Explorer, will go on maternity leave for a year starting 13 May. The Board of Directors has appointed Catharina Hagberg as acting CEO during Mia Jurke's absence

Cash, cash equivalents and other short term investments on 31 March 2013 amounted to EUR 7m (EUR 37m)

The closing price of the East Capital Explorer share as of 31 March 2013 was SEK 52.00 (corresponding to EUR 6.21)

[1]Comparable figures for the corresponding period 2012 are stated in parentheses

130508 - Q1 Report 2013

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Source: East Capital Explorer AB via Thomson Reuters ONE