Interim report January – September 2014

Interim period January – September 2014

  · Net asset value per share was SEK 40.74 at the end of the period, compared
to SEK 33.47 at year-end 2013.
  · Net asset value per share, adjusted for dividends of SEK 1.00 per share, has
increased by 24.7 per cent since year-end 2013.
  · The SIX Return Index rose by 9.2 per cent.
  · Bure’s net asset value amounted to SEK 3,075M (2,493).
  · Total return on the Bure share was 23.5 per cent (14.4).

Third quarter 2014

  · Net asset value per share increased by 7.3 per cent during the quarter.
  · The SIX Return Index fell by 0.3 per cent.
  · In September Bure acquired 7.14 million shares in Cavotec SA, listed on
NASDAQ OMX, through a directed share issue for a value of SEK 189.2M. Bure’s
total holding in Cavotec amounts to 7.89 million shares, which is equal to 10.0
per cent of the total number of shares and votes in the company.
  · Bure received dividends of SEK 92.9M from Mycronic.
  · During the quarter Bure repurchased 0.23 million shares for SEK 6.9M, which
is equal to 0.3 per cent of the total number of shares.

Subsequent events

  · In October Bure completed the acquisition of 20.1 per cent of Fondbolaget
Fondita Ab in Finland. Fondita is included in the accounts as of 1 October 2014.
  · In October Bure repurchased 3.3 million shares for SEK 98.9M. Bures holding
of treasury shares at 12 November 2014 amounted to 3.9 million shares, which is
equal to 5.1 per cent of the total number of shares.
  · Bure’s net asset value per share was SEK 44.19 at 12 November 2014.


Henrik Blomquist CEO
In this quarterly report we once again have the pleasure of announcing the
completion of a new investment, and thereby the addition of a new portfolio
company. In September we invested SEK 189M in Cavotec, which is listed on Nasdaq
OMX.

Cavotec is a global engineering group that provides products and systems for
ports, airports, mining and the general industrial sector. Cavotec is undergoing
an exciting transformation phase from a supplier of smaller components for major
industry operators to a high-tech product-owning industrial concern that can
deliver complete systems and projects.

Cavotec has had a successful history since its formation by three entrepreneurs
almost 40 years ago. Patrik Tigerschiöld from Bure has been elected to the
company’s board of directors and my hope is that Bure, as a long-term and
financially strong owner, can assist the company in the above mentioned
transformation. Following this investment, Bure holds a total of 10 per cent of
the share capital and votes in Cavotec.

Volatility in the stock market increased during the third quarter and although
index ended around the same level as at the start of Q3, nearly all of the
year’s gains were erased in the first few weeks of August. Despite this, Bure’s
net asset value showed continued positive development in the quarter, with net
asset value per share up by over 7 per cent.

After dividends received from Mycronic in August, as well as the completed new
investments and share buybacks after the end of the period, Bure today has more
than SEK 300M in investable assets.

For additional information contact
Henrik Blomquist, CEO +46 (0)8 614 00 20
Max Jonson, CFO +46 (0)8 614 00 20

The information in this interim report is subject to the disclosure requirements
of Bure Equity AB under the Swedish Securities Market Act and/or the Swedish
Financial Instruments Trading Act. This information was publicly communicated on
13 November 2014, 8:30 a.m. CET.
Interim report January – September 2014

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