Eastnine publishes Interim Report for the second quarter 2017
Key events during the quarter:
- Net Asset Value (NAV) per share¹ was EUR 9.59.
- Fair value change in Real Estate direct was +2.2% and in Real Estate funds +2.1%. Other investments declined 6.8% due to currency. Total NAV/ share decreased 2.5%.
- Eastnine acquired office property Vertas in Vilnius for EUR 29.1m and sold EUR 2.1m of the holding in Deep Value Fund.
- 699,606 shares were repurchased for a total amount of EUR 5.3m. The share buyback program was extended.
- An AGM approved the name change from East Capital Explorer to Eastnine AB (publ) and resolved to pay a dividend of SEK 0.90/share.
- New segment reporting in Real Estate Direct, Real Estate Funds and Other.
¹Adjusted for share buybacks
Key events after the quarter:
- Eastnine’s Chief Investment Officer Kestutis Sasnauskas was appointed new CEO after Mia Jurke chose to resign.
- In August, East Capital Baltic Property Fund II sold GO9 in Vilnius at an IRR above 15%. Eastnine expects to receive its share of the proceeds during Q4.
For more information contact:
Kestutis Sasnauskas, CEO, +46 8 505 97 700
Lena Krauss, CFO, +46 73 988 4466
Eastnine AB (publ) is a Swedish investment company with a net asset value of EUR 233m. The company is currently transitioning into a focused Baltic real estate company, with an aim to generate predictable cash flows by being a long-term owner of attractive commercial properties in prime locations in the Baltic capitals. Eastnine is listed on Nasdaq Stockholm, Mid Cap.
This information is information that Eastnine 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 a.m. CET on 30 August 2017.