Vostok Nafta Investment Ltd. Twelve Months Report Covering the Period January 1, 2013–December 31, 2013

| Source: Vostok New Ventures Ltd.

Stockholm, 2014-02-12 08:00 CET (GLOBE NEWSWIRE) --


- Net result for the period was USD 364.63 million (mln) (January 1, 2012–December 31, 2012: 119.74). Earnings per share were USD 4.10 (1.29). Net result for the quarter was USD 390.07 mln (82.47). Earnings per share for the quarter were USD 4.34 (0.92).

- The net asset value of the Company was USD 633.97 mln on December 31, 2013 (December 31, 2012: 329.58), corresponding to USD 7.05 (December 31, 2012: 3.67) per share. Given a SEK/USD exchange rate of 6.5084 the values were SEK 4,126.10 mln (December 31, 2012: 2,147.43 mln) and SEK 45.89 (December 31, 2012: 23.94), respectively.

- The group’s net asset value per share in USD increased by 91.96% or by 110.21% excluding the effect of the distribution of holdings in Black Earth Farming and RusForest over the period January 1, 2013–December 31, 2013. During the same period the RTS index decreased by 5.52% in USD terms. During the quarter October 1, 2013–December 31, 2013 the group’s net asset value per share in USD increased by 161.34% (RTS index: 1.42%).

- The number of outstanding shares at the end of the period was 89,903,020.

- A Special General Meeting in Vostok Nafta held on October 17, 2013 re-elected Per Brilioth and Lars O Grönstedt and elected Josh Blachman and Keith Richman to the Board of Directors. Lars O Grönstedt was appointed as Chairman of the Board.

- On October 25, 2013, Vostok Nafta sold a total of 13,824,381 shares in TCS Group Holding PLC for a total purchase price of USD 232.25 million after applicable fees.

- The investment in Avito was revalued as per December 31, 2013 based on an ongoing transaction in the company. The founders of Avito are selling 10% of their holdings, which corresponds to approximately 1.7% of the total number of shares in Avito. The pricing in the transaction equals SEK 255 per underlying Avito share, which equates to a valuation of approximately USD 1.8 bln for the whole company. As a result of this transaction, Vostok Nafta will increase its shareholding in Avito from 13.3% to an indicative 13.7% on a fully diluted basis.

- The reported net asset value per share of Vostok Nafta as of January 31, 2014 was USD 4.86 (SEK 31.74), excluding the effect of the revaluation of Avito per December 31, 2013. Including the effect of the revaluation of Avito based on a transaction in February, 2014, the net asset value per share of Vostok Nafta as of January 31, 2014 was USD 6.56 (SEK 42.83).


The company will host a telephone conference with an interactive presentation on Wednesday, February 12, 2014 at 16:00 Central European Time (CET). For call-in details, see separate press release issued Thursday, February 6, 2014 at www.vostoknafta.com.