CORRECTION: East Capital Explorer AB - Net Asset Value (NAV) SEK 78 per share on 30 September 2013

Mon Oct 7, 2013 3:39am EDT

* Reuters is not responsible for the content in this press release.

NAV and share price development

  • NAV per share on 30 September 2013 amounted to EUR 9.03 (SEK 78)
  • NAV per share (EUR) increased by 0.7% (unchanged in SEK) compared to 31 August 2013
  • The value of cash, cash equivalents and other short term investments per share amounted to EUR 0.39 (SEK 3), corresponding to an aggregate of EUR 12m (SEK 107m)
  • The closing price per share on 30 September 2013 was SEK 46.70 (EUR 5.37) corresponding to a decrease of 0.4% compared to 31 August 2013
  • The number of shares outstanding in East Capital Explorer on 30 September 2013 was 31,424,309. The Company did not hold any own shares
  • EUR 1 = SEK 8.69 on 30 September 2013

         

Events during the month

  · In September, East Capital Explorer received an additional distribution of EUR 6.1m from East Capital Bering New Europe Fund

         

Financial reporting calendar

·         Monthly Net Asset Value report on the fifth working day after the end of each month
·         Interim Report, 1 January - 30 September 2013 on 11 November 2013
·         Year-end Report 2013 on 20 February 2014
·         Interim Report, 1 January - 31 March 2014 on 22 May 2014

Portfolio on 30 September 2013

% Value1 change
September
% Value1 change
2013
Value per share,
EUR
Value,
EURm
of NAV
Direct Investments
Melon Fashion Group 0.0% 5.3% 1.41 44.2 16%
Starman 0.0% 0.0% 0.75 23.6 8%
Trev-2 Group 0.0% 0.0% 0.24 7.4 3%
Komercijalna Banka Skopje 0.0% -18.8% 0.21 6.7 2%
0.0% 0.8% 2.61 81.9 29%
Fund Investments
East Capital Bering Balkan Fund 1.5% 7.7% 1.34 42.0 15%
East Capital Russia Domestic Growth Fund 5.7% -3.9% 1.20 37.8 13%
East Capital Bering Russia Fund 0.8% -10.9% 0.79 24.8 9%
East Capital Special Opportunities Fund 7.4% 13.6% 0.68 21.3 8%
East Capital Bering Central Asia Fund -2.5% 12.1% 0.66 20.8 7%
East Capital Baltic Property Fund II 0.8% 6.1% 0.61 19.3 7%
East Capital Special Opportunities Fund II 0.0% -12.4% 0.55 17.4 6%
East Capital Bering Ukraine Fund R -2.4% -9.3% 0.15 4.7 2%
East Capital Bering Ukraine Fund A -0.9% -9.9% 0.11 3.5 1%
East Capital Bering New Europe Fund -1.2% -2.5% 0.03 1.0 0%
1.9% 0.6% 6.13 192.6 68%
Short-term Investments
Short-term investments2 0.04 1.3 0%
Cash and cash equivalents 0.35 11.1 4%
0.39 12.3 4%
Total Portfolio 9.13 286.8 101%
Other assets and liabilities net -0.10 -3.2 -1%
Net Asset Value (NAV) 0.7% -1.1% 9.03 283.6 100%
1) The value change calculation is adjusted for investments and distributions during the period, i.e. it is the percentage change between the starting value plus any added investment during the period and the ending value plus any proceeds from divestments or dividends received during the period
2) Due to the ongoing liquidation of East Capital Power Utilities Fund and East European Debt Finance, these holdings are no longer separately reported but included in short-term investments as the remaining assets are limited.
Note that certain numerical information may not sum due to rounding

Contact information

Catharina Hagberg, Acting CEO, East Capital Explorer, +46 8 505 885 52
Charlotte Åsberg, Investor Relations Manager, East Capital Explorer, +46 8 505 885 94

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 but investments are also made through East Capital's private equity, real estate and 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 OMX Stockholm, Mid Cap.

Listing: NASDAQ OMX Stockholm, Mid Cap - Ticker: ECEX - ISIN: SE0002158568 - Reuters: ECEX.ST - Bloomberg: ECEX SS Equity - Analysts: Carnegie, Handelsbanken, Remium, Erik Penser

This report has not been subject to review by the company's auditors and the 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 07:00 a.m. CET on 7 October 2013.




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#1733920