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2016-05-19

East Capital Explorer AB: East Capital Explorer publishes Q1 Report 2016

Key events during the first quarter

· Net Asset Value (NAV) per share was EUR 9.00, unchanged since
December 2015. Total NAV was EUR 253m

· An agreement was reached to sell the holding in Starman to
Providence Equity for approx. EUR 81m, corresponding to a net IRR of
24-27%, with additional earn-out potential payable in 2017 of up to
EUR 5m. The transaction, expected to close in Q2, entails a carried
interest liability to East Capital of EUR 6.5m, included in the Q1
NAV

· The Real Estate segment increased in value by 2.3%, and Private
Equity by 3.3%, while Public Equity decreased by 4.7% during Q1

· A dividend for 2015 of SEK 0.80, or EUR 0.09, per share will be
proposed to the AGM on 9 June

Key events after the period

· An EGM on 9 May approved the termination of the Investment
Agreement with East Capital. Consequently, the results for Q2 will be
affected by EUR -8.6m relating to compensation to East Capital for
services according to a transition agreement, and accrued profit
sharing related to 3 Bur?s. Another total of EUR -2.0m will be
included in the results for Q3 2016 for the purchase of voting shares
in the jointly owned Luxembourg based company

· As announced, a buyback program will be launched on 20 May,
whereby share buybacks will be carried out as long as the NAV
discount exceeds 20%

· In Q2, dividends totaling EUR 1.2m will be received; EUR 0.4m from
Komercijalna Banka Skopje and EUR 0.8m from East Capital Baltic
Property Fund II that intends to pay semi-annual dividends as of Q2

Contact information

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 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 am.
CET on 19 May 2016

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http://news.cision.com/east-capital-explorer-ab/r/east-capital-explorer-...
http://mb.cision.com/Main/13001/2012270/517580.pdf
http://mb.cision.com/Public/13001/2012270/8ee59165e68979a3.pdf

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