Stockholm, 2016-08-05 14:00 CEST (GLOBE NEWSWIRE) --
The depositary receipts holders considered certain items, where the following were resolved by the Special General Meeting.
- The Special General Meeting resolved to, in accordance with the Board of Directors’ proposal, (i) approve the Company’s acquisition of shares in BlaBlaCar from, among others, Luxor Capital Group, and (ii) increase the Company’s issued share capital by not more than USD 2,197,365.12 by an issue of not more than 6,866,766 new common shares of USD 0.32 per share in consideration for non-cash property. The right to subscribe for depositary receipts representing the new common shares in the Company (“SDRs”) has been granted Luxor Capital Partners, LP, Luxor Capital Partners Offshore Master Fund, LP, Luxor Wavefront, LP, Lead Edge Capital II L.P, Lead Edge Capital II QP L.P and Lead Edge Partners Opportunity III L.P., with a right and obligation for each of such parties to pay the Company for new common shares by non-cash property consisting of BlaBlaCar shares.
As a result of the Transaction, BlaBlaCar is the Company’s second largest investment, valued at approximately USD 80 mln, and represents approximately 14.4 % of the latest published NAV as of March 31, 2016. Further information relating to the Acquisition, including the background and reasons thereto, is available on the Company’s website, www.vostoknewventures.com.
The SDRs for the issued shares are expected to be admitted for trading on Nasdaq Stockholm on or about August 10, 2016.
For further information please contact:
Björn Von Sivers, Investor Relations: +46 (0)8 545 015 50
Vostok New Ventures Ltd, formerly Vostok Nafta Investment Ltd, is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.