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2014-04-23

East Capital Explorer AB: Announcement from the Annual General Meeting of East Capital Explorer AB (publ) on 22 April 2014

The Meeting adopted the income statements and balance sheets included in the
Board of Directors' Annual Report for the parent company and the East Capital
Explorer Group for the fiscal year 2013.

The Meeting resolved to allocate this year's result in accordance with the
Board of Directors' proposal, meaning that no dividend will be made to the
shareholders and that the profits will be carried forward.

The Meeting granted the members of the Board of Directors and the CEO
discharge from liability for the period covered by the Audit Report.

The Meeting resolved that the number of Directors to serve until the close of
the next Annual General Meeting shall be five (5).

The Meeting resolved to leave the compensation to the Directors unchanged
until the next Annual General Meeting, corresponding to SEK 770,000 for the
Chairman of the Board of Directors and SEK 330,000 for each of the other
Directors. Members of the Board of Directors who are employed in the East
Capital Group do not receive any remuneration. The Meeting resolved, in
accordance with the proposal of the Nomination Committee, that the
remuneration to a Director may, subject to a specific agreement with the
company, be invoiced through a company or entity registered in the country
where the Director is officially tax domiciled. In order for the company to
enjoy cost neutrality, the invoiced remuneration shall be adjusted for social
security charges and value added tax. The Meeting also resolved to leave the
compensation for work in the Audit Committee unchanged, corresponding to SEK
100,000 for the Chairman of the Audit Committee and SEK 50,000 for each of
the other members. Furthermore, it was resolved that fees to the auditor be
paid according to approved invoices under a given offer.

Paul Bergqvist, Lars O Grönstedt, Louise Hedberg and Alexander Ikonnikov were
re-elected as Directors. Karine Hirn had declined re-election. Peter Elam
Håkansson was elected as new Director of the Board. The Meeting re-elected
Paul Bergqvist as Chairman of the Board of Directors.

The Annual General Meeting 2011 resolved to re-elect the registered auditing
company KPMG as auditor until the close of the Annual General Meeting 2015.
Therefore, no decision was taken in this regard during this year's Annual
General Meeting.

The Meeting approved the proposal regarding criteria for appointment of the
Nomination Committee.

The Meeting approved the Board of Directors' proposal regarding guidelines for
remuneration to senior management.

The Meeting authorized the Board of Directors to decide on repurchase of own
shares in accordance with the proposed resolution.

The Meeting authorized the Board of Directors to, at one or several occasions
before the Annual General Meeting 2015, with or without deviation from the
preferential rights of the shareholders, resolve to issue no more than
1,000,000 preference shares in accordance with the proposed resolution.

The Meeting approved the Board of Directors' proposal to reduce the share
capital by way of voluntary redemption of the company's ordinary shares for
repayment to the shareholders, and to increase the share capital by way of a
bonus issue.

At the meeting of the Board of Directors held after the Annual General
Meeting, members of the Audit Committee were elected. Paul Bergqvist was
re-elected Chairman of the Audit Committee and Lars O Grönstedt and Alexander
Ikonnikov were re-elected members of the Audit Committee.

Contact information:

Paul Bergqvist
, Chairman of the Board, East Capital Explorer +46 733 55 41 00

Catharina Hagberg
, Acting CEO, East Capital Explorer, +46 8 505 885 52

Financial reporting calendar - East Capital Explorer:

* Monthly Net Asset Value report on the fifth working day after the end of
each month
* Interim Report, 1 January - 31 March 2014 on 22 May 2014
* Interim Report, 1 January - 30 June 2014 on 21 August 2014
* Interim Report, 1 January - 30 September 2014 on 7 November 2014

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

This 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 08:00 a.m. CET on 23 April 2014.

140423 - Press Release
http://hugin.info/143006/R/1778795/607585.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: East Capital Explorer AB via Globenewswire

HUG#1778795

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