Stockholm, 2015-08-19 08:00 CEST (GLOBE NEWSWIRE) --
- Net result for the period was USD 52.78 million (mln) (January 1, 2014–June 30, 2014: –91.04). Earnings per share were USD 0.72 (–1.11). Net result for the quarter was USD 39.95 mln (–24.02). Earnings per share for the quarter were USD 0.54 (–0.32).
- The net asset value of the Company was USD 438.43 mln on June 30, 2015 (December 31, 2014: 388.47), corresponding to USD 5.97 per share (December 31, 2014: 5.24). Given a SEK/USD exchange rate of 8.2389 the values were SEK 3,612.21 mln (December 31, 2014: 3,034.62) and SEK 49.15 (December 31, 2014: 40.95), respectively.
- The group’s net asset value per share in USD increased by 13.78% over the period January 1, 2015–June 30, 2015. During the same period the RTS index increased by 17.30% in USD terms. During the quarter April 1, 2015–June 30, 2015 the group’s net asset value per share in USD increased by 0.01% (RTS index: 5.35%).
- During the second quarter, Vostok New Ventures made three new investments: a USD 4.5 mln investment in Naseeb Networks, which operates jobs verticals in Pakistan and Saudi Arabia, a USD 2.4 mln follow-up investment in Wallapop, a fast-growing mobile classifieds operator, and a USD 2 mln investment in IZH Holding, which owns and operates property verticals in Pakistan (Zameen.com) and the United Arab Emirates (Bayut.com).
- The Annual General Meeting on May 20, 2015 resolved in accordance with the Board of Directors’ proposal to change the Company’s name to Vostok New Ventures Ltd. The change of name took effect on June 15, 2015.
- A Special General Meeting on June 9, 2015 resolved in accordance with the Board of Directors’ proposed transfer of the Company’s holding in Tinkoff Bank to the shareholders through the formation and spin-off of a new company, Vostok Emerging Finance Ltd (VEF). Trading in the SDRs of VEF on First North commenced on July 16, 2015.
- During the second quarter 2015, Vostok New Ventures repurchased 6,600 SDRs (shares). The number of outstanding shares at the end of the period was 73,499,555.
- After the end of the reporting period the Company has made three new investments: a USD 1 mln investment in Wuzzuf, one of the leading job verticals in Egypt, a USD 7.5 mln investment in Merro, a Dubai-based online marketplace investment platform and a USD 4 mln investment in OneTwoTrip, Russia’s leading travel vertical.
The Company will hold a telephone conference with an interactive presentation at 16:00 CET (10:00 a.m. EST) Wednesday August 19. For call-in details, see separate press release issued Wednesday, August 12, 2015 at www.vostoknewventures.com.
