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2018-08-22

Vostok Emerging Finance Ltd: Financial report for the second quarter and six-months period 2018

Stockholm, Aug. 22, 2018 (GLOBE NEWSWIRE) --

Financial result

* Net result for 2Q18 was USD 7.93 million (mln) (2Q17: USD 7.62 mln).
Earnings per share were USD 0.012 (2Q17: USD 0.004).
* Net result for the six-months period was USD 20.93 mln (1H17: 14.68
mln). Earnings per share were USD 0.032 (1H17: 0.022).
* The positive net result over the six-months period is primarily
driven by the positive share price development in VEF’s only listed
equity holding, Tinkoff Bank and the mark up in valuation of
TransferGo, Iyzico, FinanZero and JUMO.

Net asset value

* The net asset value (NAV) of VEF was USD 220.16 mln as at June 30,
2018 (December 31, 2017: USD 198.56 mln), which is an increase by
10,9% in USD over the six-months period 2018.
* Net asset value per share was USD 0.33 (December 31, 2017: USD 0.30).
* Based on the period end USD/SEK exchange rate of 8.96 (December 31,
2017: 8.23), net asset value was SEK 1,973 mln (December 31, 2017:
SEK 1,635 mln) and SEK 2.98 per share (December 31,2017: SEK 2.47 per
share), respectively.

Key events during the second quarter

* Tinkoff paid a dividend of USD 0.31 per share on April 4, 2018,
amounting to USD 0.93 mln. Another dividend of USD 0.24 per share was
paid on June 21, 2018, at a value of USD 0.72 mln.
* During April 2018, VEF sold 250k shares in TCS Group Holding PLC, at
a value of in total USD 4.98 mln.
* On May 14, 2018 TransferGo closed a new financing round in which VEF
converted its outstanding loan note including accrued interest, and
invested an additional USD 2.7 mln (EUR 2.3 mln).
* On June 18, 2018, Vostok Emerging Finance invested USD 15 mln into
Mexican digital-first unsecured lending platform Konfio.
* During the period, VEF has repurchased 984,722 Swedish Depository
Receipts (SDRs) in the Company.

Key events after the end of the period

* After the end of the period, VEF has repurchased 276,139  Swedish
Depository Receipts (SDRs) in the Company. The total number of
outstanding SDRs of the Company, excluding repurchased SDRs, as at
August 22, 2018 is 660,235,134.
* On July 9, Finja closed a new funding round, in which VEF invested an
additional USD 1 mln.
* On July 17 2018, VEF extended a convertible loan note to
Revo/Sorsdata in the amount of USD 2.13 mln. 
* During July 2018, VEF sold 245k shares in TCS Group Holding PLC, at a
value of in total USD 5.01 mln.

The Company will hold a telephone conference with an interactive
presentation at 12:00:00 CEST (06:00 a.m. EDT) Wednesday, August 22, 2018.
For call-in details, see separate press release issued Wednesday, August
15, 2018 at www.vostokemergingfinance.com

.

For further information please contact:
Henrik Stenlund, CFO: +46 (0) 8-545 015 50

Vostok Emerging Finance is an investment company with the goal of investing
in early stage modern financial services companies across emerging and
frontier markets. VEF trades in Sweden on Nasdaq First North under the
ticker VEMF SDB.

Vostok Emerging Finance’s Certified Adviser on Nasdaq First North is Pareto
Securities AB.

This information is information that Vostok Emerging Finance Ltd is obliged
to make public pursuant to the EU Market Abuse Regulation and
the Securities Markets Act. The information was submitted for publication
at 08:00 CEST on August 22, 2018.

Bilaga

* vef_2q18

Författare Hugin

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