East Capital Explorer transfers SEK 123m to its shareholders through a redemption program
ET | Source:East Capital Explorer AB
On 22 April, 2014, the Annual General Meeting of East Capital Explorer AB
resolved on the voluntary redemption of ordinary shares. The offer involved
redemption of a maximum of every twentieth share held in East Capital Explorer
at a redemption price of SEK 83 per share (corresponding to the Net Asset Value
per share on 28 February, 2014). The application period for the offer expired on
4 June, 2014.
Based on the final count, 1 481 049 shares were tendered for redemption,
corresponding to an acceptance level to the redemption offer of approximately
94 percent. Consequently, a total of SEK 123m will be transferred to the
Following redemption and a bonus issue, without issuing new shares, effected in
connection therewith, East Capital Explorer's share capital will amount to
approximately EUR 3.6m divided on 29,943,260 shares. Payment of the redemption
amount is estimated to be made around 25 June, 2014.
The average price for the sold redemption rights in the commission-free sale
procedure amounted to SEK 1.23 per redemption right. Payment of proceeds from
sale of redemption rights free of commission was made on 5 June, 2014.
Mia Jurke, CEO, East Capital Explorer, +46 8 505 885 32
Lena Krauss, CFO and Head of Investor Relations, East Capital Explorer,
+46 73 988 44 66
Financial reporting calendar
· Monthly Net Asset Value report on the fifth working day after the end
of each month
· Interim Report, 1 January - 30 June 2014 on 21 August 2014
· Interim Report, 1 January - 30 September 2014 on 7 November 2014
· Year-end Report, 1 January - 31 December 2014 on 12 February 2015
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
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 08:00 a.m. CET on 10 June 2014.
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