Eastnine divests remaining holding in East Capital Global Frontier Markets Fund
Eastnine AB (publ) has divested its remaining fund holdings in East Capital Global Frontier Markets Fund through ordinary fund redemption. Eastnine has, as part of its strategic focusing the past few years, gradually reduced its holding in the fund by redeeming fund units for a total of EUR 48.1m since 2014. The total consideration during 2018 amounts to approximately EUR 12.3m, of which EUR 8.6m refers to Q1 2018 and EUR 3.7m to Q2 2018, which is on average 1.3% above reported fair value as of 31 Dec 2017.
The final sales proceeds may differ slightly from the above. Eastnine’s investment in the fund has yielded an average annual return (IRR) of approximately 5.7% since December 2014.
For further information contact:
Kestutis Sasnauskas, CEO, +46 8 505 97 700
Lena Krauss, CFO, +46 73 988 44 66
Eastnine AB (publ) is a Swedish investment company with a net asset value of EUR 242.5m. The company is currently transitioning into a focused real estate company, with the aim to generate predictable cash flows by being a long-term provider of sustainable prime office space 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. The information was submitted for publication, through the agency of the contact persons set out above, at 12:00 p.m. CET on 17 April 2018.