NAV and share price development
* NAV per share on 31 January 2013 amounted to EUR 9.31 (SEK 80)
* NAV per share (EUR) increased by 2.0 percent compared to 31 December 2012
* The value of cash, cash equivalents and other short term investments per
share amounted to EUR 0.56 (SEK 5), corresponding to an aggregate of EUR
17m (SEK 151m)
* The closing price per share on 31 January 2013 was SEK 53.25 (EUR 6.16)
corresponding to an increase of 8.7 percent compared to 31 December 2012
* The number of shares outstanding in East Capital Explorer on 31 January
2013 was 31,424,309. The Company does not hold any own shares
* EUR 1 = SEK 8.64 on 31 January 2013
Events during the month
· On 1 January 2013, East Capital Explorer invested EUR 15m into the East
Capital Russia Domestic Growth Fund. During the month, the Company decided to
invest an additional EUR 10m into the Fund and the investment took place on 1
February 2013
· The application period for East Capital Explorer's offer to redeem shares
ended on 14 January 2013. 1,600,286 shares were tendered for redemption during
the redemption program, corresponded to an acceptance level of approximately 97
percent. Consequently, a total of SEK 123.2m (EUR 14.3m) was paid out on 30
January 2013 to the shareholders who participated in the redemption program
· On 22 January 2013, East Capital Explorer announced its decision to invest an
additional EUR 10m into the East Capital Russia Domestic Growth Fund and the
investment took place on 1 February 2013
· In the end of January 2013, 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 Extraordinary General
Meeting on 4 December 2012
Financial reporting calendar
· Monthly Net Asset Value report on the fifth working day after the end
of each month
· Year-end Report 2012, 14 February 2013
· Annual Report 2012 available in April 2013
· Annual General Meeting 2013 on 24 April 2013
· Interim Report, 1 January - 31 March 2013 on 8 May 2013
· Interim Report, 1 January - 30 June 2013 on 14 August 2013
· Interim Report, 1 January - 30 September 2013 on 11 November 2013
Portfolio on 31 January 2013
% Fair % Fair Fair
value value value per Fair
Portfolio on 31 change change share, value, %
January 2013 January 2013 EUR EURm of NAV
-------------------------------------------------------------------------------
Fund Investments
East Capital Bering
Balkan Fund 2.9% 2.9% 1.28 40.1 14%
East Capital
Russia Domestic
Growth Fund 3.9% 3.9% 0.97 30.5 10%
East Capital Bering
Russia Fund 0.9% 0.9% 0.89 28.0 10%
East Capital
Special
Opportunities Fund 5.8% 5.8% 0.73 22.8 8%
East Capital
Special
Opportunities Fund
II -0.9% -0.9% 0.63 19.7 7%
East Capital Bering
Central Asia Fund 5.3% 5.3% 0.62 19.5 7%
East Capital
Baltic
Property
Fund II 0.0% 0.0% 0.55 17.4 6%
East Capital Bering
New Europe Fund -0.4% -0.4% 0.42 13.1 4%
East Capital Power
Utilities Fund 4.2% 4.2% 0.38 11.8 4%
East Capital Bering
Ukraine Fund R -0.7% -0.7% 0.17 5.2 2%
East Capital (Lux)
Eastern European
Fund 3.5% 3.5% 0.15 4.6 2%
East Capital Bering
Ukraine Fund A -3.3% -3.3% 0.12 3.8 1%
-------------------------------------------------------------------------------
2.4% 2.4% 6.89 216.5 74%
Direct Investments
Melon Fashion Group 0.0% 0.0% 1.41 44.2 15%
Komercijalna Banka
Skopje 11.9% 11.9% 0.31 9.7 3%
Trev-2 Group 0.0% 0.0% 0.24 7.4 3%
East European Debt
Finance (EEDF) -0.2% -0.2% 0.02 0.8 0%
-------------------------------------------------------------------------------
1.7% 1.7% 1.98 62.1 21%
Short-term
Investments
Cash and cash
equivalents 0.56 17.5 6%
-------------------------------------------------------------------------------
0.56 17.5 6%
-------------------------------------------------------------------------------
Total Portfolio 9.42 296.1 101%
Other assets and
liabilities net -0.11 -3.5 -1%
-------------------------------------------------------------------------------
Net Asset Value
(NAV) 2.0% 2.0% 9.31 292.6 100%
-------------------------------------------------------------------------------
The fair value change calculation is adjusted for investments and
distributions during the period, i.e. it is the percentage change between the
starting fair value plus any added investment during the period and the ending
fair value plus any proceeds from divestments or dividends received during the
period.
Please note that the total NAV during January 2013 decreased as a result of
the payment of EUR 14.3m to shareholders participating in the redemption
program.
Note that certain numerical information may not sum due to rounding.
Contact information
Mia Jurke, CEO, East Capital Explorer, +46 8 505 885 32
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 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 special fund
products but it also makes direct investments into private and public companies.
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: SE002158568 -
Reuters: ECEX.ST - Bloomberg: ECEX SS Equity - Analysts: Carnegie, Svenska
Handelsbanken
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 February 2013.
[HUG#1676205]
East Capital Explorer AB - Net Asset Value (NAV) SEK 80 per share on 31 January 2013
| Source: East Capital Explorer AB
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