East Capital Explorer takes full control of its investment management
- Buys East Capital’s shares in formerly jointly owned holding company
At the Extraordinary General Meeting on 9 May 2016 it was decided that East Capital Explorer AB (publ) would become an independent investment company. The EGM resolved to terminate the Investment Agreement with East Capital and today East Capital Explorer acquires East Capital’s shares, representing 96 percent of the votes, in the formerly jointly owned holding company. East Capital Explorer thereby controls 100 percent of the votes and capital in East Capital Explorer Investments SA. The compensation for the control shares and certain other obligations amounts to EUR 2m according to the termination agreement, as previously announced.
Furthermore, East Capital Explorer announces that its investment team, led by Kestutis Sasnauskas, has been strengthened with four employees who have vast experience from investments in Eastern Europe, most recently within East Capital. With the new organization in place, the company has moved its headquarters and operations to new premises in Stockholm and thereby no longer shares offices with its former investment manager East Capital.
“This was the last decisive step towards our goal of becoming an independent investment company. It means that we now stand on our own feet with an investment team, our own offices and full control of the investment portfolio. Our focus now is on the portfolio and value creation, and we will also ensure to lower our costs as promised”, said Mia Jurke, CEO of East Capital Explorer.
Mia Jurke, CEO, East Capital Explorer, +46 8 505 885 32
Lena Krauss, CFO and Head of Investor Relations, East Capital Explorer, +46 73 988 44 66
About East Capital Explorer
East Capital Explorer AB (publ) is a Swedish investment company, 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 Retail and Consumer goods, Financials and Real Estate. 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. The information was submitted for publication, through the agency of the contact person set out above, at 14.30 pm CET on 19 August 2016.