* On 30 September 2011 the net asset value per share in East Capital Explorer
amounted to EUR 9.13 (corresponding to SEK 84[1]). The total net asset value
amounted to EUR 317m (corresponding to SEK 2.9bn)
* The total net asset value (EUR) decreased 8.7 percent compared to 31 August
2011
* The value of cash, cash equivalents and other short term investments per
share amounted to EUR 1.32 (SEK 12), corresponding to an aggregate of EUR
46m (SEK 421m). EUR 42m (SEK 386m) of those were available for future
investments
* In October it was announced that Mia Jurke will succeed Gert Tiivas as CEO
of East Capital Explorer effective from 15 October 2011
* In September East Capital Explorer undertook to invest EUR 13m in Melon
Fashion Group as part of the previously announced deal with Swedfund. The
deal is expected to be completed during the fourth quarter
* Following the recent down-turn in financial markets and portfolio companies'
failure to meet previously set expectations, East Capital Explorer has
decided to write down the value of the shares in Mellon Fashion Group by 30
percent and the shares in Populi by 35 percent
* During September, East Capital Explorer repurchased 138,504 of its own
shares at an average price of SEK 55.72 per share, which corresponded to
0.4 percent of the company's outstanding number of shares
* The closing price per share on 30 September 2011 was SEK 53 (corresponding
to EUR 5.76)
Following share buy-backs in September, the number of shares outstanding in East
Capital Explorer AB on 30 September 2011 was 34,713,171.
This report has not been subject to review by the company's auditors.
The full net asset value report with the portfolio as of 30 September is
included in the attached pdf-file.
Contact information:
Gert Tiivas, CEO East Capital Explorer +46 8 505 977 30
Mathias Pedersen, CFO East Capital Explorer +46 8 505 977 48
Financial reporting calendar - East Capital Explorer:
* Monthly Net Asset Value report on the fifth working day after the end of
each month
* Interim Report, 1 January - 30 September 2011 on 11 November 2011
* Year-end Report 2011, 15 February 2012
* Annual Report 2011 available in March 2012
* Annual General Meeting 2012 on 25 April 2012
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 alternative investment funds as well as in direct investments into
private and public companies. 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 and demands made in the exchange rules. It was
released for publication at 07:00 a.m. CET on 7 October 2011.
--------------------------------------------------------------------------------
[1] 1 EUR = 9.20 SEK on 30 September 2011. Source: Bloomberg
[HUG#1552894]
