NAV and share price development
* NAV per share on 30 September 2013 amounted to EUR 9.03 (SEK 78)
* NAV per share (EUR) increased by 0.7% (unchanged in SEK) compared to 31
August 2013
* The value of cash, cash equivalents and other short term investments per
share amounted to EUR 0.39 (SEK 3), corresponding to an aggregate of EUR
12m (SEK 107m)
* The closing price per share on 30 September 2013 was SEK 46.70 (EUR 5.37)
corresponding to a decrease of 0.4% compared to 31 August 2013
* The number of shares outstanding in East Capital Explorer on 30 September
2013 was 31,424,309. The Company did not hold any own shares
* EUR 1 = SEK 8.69 on 30 September 2013
Events during the month
· In September, East Capital Explorer received an additional distribution of
EUR 6.1m from East Capital Bering New Europe Fund
Financial reporting calendar
· Monthly Net Asset Value report on the fifth working day after the end
of each month
· Interim Report, 1 January - 30 September 2013 on 11 November 2013
· Year-end Report 2013 on 20 February 2014
· Interim Report, 1 January - 31 March 2014 on 22 May 2014
Portfolio on 30 September 2013
% Value(1) % Value(1) Value per
change change share, Value, %
August 2013 EUR EURm of NAV
-------------------------------------------------------------------------------
Direct Investments
Melon Fashion Group 0.0% 5.3% 1.41 44.2 16%
Starman 0.0% 0.0% 0.75 23.6 8%
Trev-2 Group 0.0% 0.0% 0.24 7.4 3%
Komercijalna Banka Skopje -0.6% -18.8% 0.21 6.7 2%
-------------------------------------------------------------------------------
0.0% 0.8% 2.61 81.9 29%
Fund Investments
East Capital Bering
Balkan Fund 1.1% 6.1% 1.32 41.3 15%
East Capital Russia
Domestic Growth Fund -5.3% -9.1% 1.14 35.8 13%
East Capital Bering
Russia Fund 2.9% -11.6% 0.78 24.6 9%
East Capital Bering
Central Asia Fund -2.1% 15.0% 0.68 21.3 8%
East Capital Special
Opportunities Fund 1.1% 6.8% 0.63 19.9 7%
East Capital Baltic
Property Fund II 1.5% 5.2% 0.61 19.1 7%
East Capital Special
Opportunities Fund II 3.3% -12.4% 0.55 17.4 6%
East Capital Bering New
Europe Fund 1.9% -1.9% 0.23 7.1 3%
East Capital Bering
Ukraine Fund R -0.3% -7.0% 0.15 4.9 2%
East Capital Bering
Ukraine Fund A -4.2% -9.0% 0.11 3.5 1%
-------------------------------------------------------------------------------
-0.1% -1.2% 6.20 194.9 69%
Short-term Investments
Short-term
investments(2) 0.07 2.1 1%
Cash and cash equivalents 0.17 5.4 2%
-------------------------------------------------------------------------------
0.24 7.5 3%
-------------------------------------------------------------------------------
Total Portfolio 9.05 284.3 101%
Other assets and
liabilities net -0.09 -2.7 -1%
-------------------------------------------------------------------------------
Net Asset Value (NAV) -0.3% -1.8% 8.96 281.6 100%
-------------------------------------------------------------------------------
1) The value change calculation is adjusted for investments and distributions
during the period, i.e. it is the percentage change between the starting value
plus any added investment during the period and the ending value plus any
proceeds from divestments or dividends received during the period
2) Due to the ongoing liquidation of East Capital Power Utilities Fund and
East European Debt Finance, these holdings are no longer separately reported
but included in short-term investments as the remaining assets are limited.
Note that certain numerical information may not sum due to rounding
Contact information
Catharina Hagberg, Acting CEO, East Capital Explorer, +46 8 505 885 52
Charlotte Åsberg, Investor Relations Manager, East Capital Explorer,
+46 8 505 885 94
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 - Analysts: Carnegie,
Handelsbanken, Remium, Erik Penser
This report has not been subject to review by the company's auditors and the
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 07:00 a.m. CET on 7 October 2013.
[HUG#1733873]
East Capital Explorer AB - Net Asset Value (NAV) SEK 78 per share on 30 September 2013
| Source: East Capital Explorer AB
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