East Capital Explorer publishes Q1 2017 Report

Key events during the quarter

  • Net Asset Value (NAV) per share, adjusted for share buybacks, was EUR 9.83, an increase of 1.7% during the quarter. Total NAV was EUR 246m
  • The Real Estate segment increased by 1.8% during Q1 and Private Equity by 6.8%, while Public Equity decreased by 3.4%
  • East Capital Explorer invested EUR 3.0m in the ongoing development of 3 Burės’ third office tower in Vilnius. The project is pre-let to 98 %
  • Trev-2 was sold in March for a total cash consideration of EUR 5.7m with a gross IRR of 2% and no NAV effect
  • EUR 2.1m of the holding in East Capital Deep Value Fund was sold during Q1
  • An EGM in January voted in favour of electing Göran Bronner as a new Board Member and cancelling 2,500,000 own shares
  • 604,824 shares, equivalent to 2.4% of outstanding shares, were repurchased during the quarter for a total amount of EUR 4.4m
  • In March, CEO Mia Jurke announced her decision to resign from East Capital Explorer. The Board has initiated a recruitment process for her successor

Key events after the quarter

  • In April, East Capital Explorer agreed to acquire Vertas, a fully occupied 9,400 sqm A class office property in Vilnius, for a purchase price of EUR 29m. The transaction is expected to close during the summer
  • During 1 April - 5 May the Company repurchased 331,987 own shares, corresponding to 1,3% of outstanding shares, under a buyback program that runs until the AGM on 15 May 2017
  • Fund holdings totalling EUR 2.1m were sold after the end of the quarter

Contact information

Mia Jurke , CEO, East Capital Explorer, +46 8 505 885 32

Lena Krauss , CFO, East Capital Explorer, +46 73 988 44 66

About East Capital Explorer

East Capital Explorer AB (publ) is a Swedish investment company with a net asset value of EUR 248 million, offering unique investment opportunities in Eastern Europe, where the Baltic countries represent the company’s largest investment region. The company primarily invests in unlisted assets within the private equity and real estate segments. East Capital Explorer’s main investment theme is domestic growth and the company targets fast growing sectors such as real estate, consumer goods and financials. East Capital Explorer is listed on Nasdaq Stockholm, Mid Cap.

Listing: Nasdaq Stockholm, Mid Cap - Ticker: ECEX - ISIN: SE0002158568 -
Reuters: ECEX.ST - Bloomberg: ECEX SS Equity

This information is information that East Capital Explorer AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET on 9 May 2017.