Stockholm, 2017-08-16 08:01 CEST (GLOBE NEWSWIRE) --
- Net result for the period was USD 8.64 million (mln) (January 1, 2016–June 30, 2016: 23.08). Earnings per share were USD 0.10 (0.31).
- Net result for the quarter was USD -8.69 mln (18.95). Earnings per share for the quarter were USD -0.10 (0.26).
- The net asset value of Vostok New Ventures (“Vostok” or “the Company”) was USD 733.28 mln on June 30, 2017 (December 31, 2016: 725.52), corresponding to USD 8.56 per share (December 31, 2016: 8.47). Given a SEK/USD exchange rate of 8.469 the values were SEK 6,210.17 mln (December 31, 2016: 6,600.09) and SEK 72.49 (December 31, 2016: 77.02), respectively.
- The group’s net asset value per share in USD increased by 1.1% over the period January 1, 2017–June 30, 2017.
- During the quarter April 1, 2017–June 30, 2017, the group’s net asset value per share in USD decreased by 1.3%, mainly driven by a revaluation of Avito following a weaker RUB/USD in 2Q17.
- During the quarter, Vostok New Ventures announced a GBP 17.3 mln (USD 21.7 mln) investment in the digital healthcare service provider babylon.
- On June 22, 2017, the Company issued corporate bonds of SEK 600 million within a total frame of SEK 800 million. The bonds mature on June 22, 2020, and carry a fixed interest rate of 5.50 per cent per annum with quarterly interest payments. The Company announced on July 17, 2017, that it had prepared a prospectus and applied for listing of the 2017/2020 corporate bonds at Nasdaq Stockholm with the first day of trading on July 19, 2017.
- The number of outstanding shares (SDRs), including 180,100 repurchased SDRs, at the end of the period was 85,688,309.
- After the end of the period, the Company repurchased 48,419 SDRs under the Board of Directors’ repurchase authorization of May 16, 2016.
- In early July 2017, Delivery Hero AG repaid its loan of EUR 25 mln to the Company’s escrow account. On July 12, 2017, the Company announced that the board of directors had resolved to redeem the Company’s entire SEK 300 million bond 2016/2019 due to the early repayment by Delivery Hero AG of its loan of EUR 25 mln to the Company. On July 21, 2017, the Company announced that it had given notice of the early redemption pursuant to the terms and conditions of the bond 2016/2019.
The Company will hold a telephone conference with an interactive presentation at 16:00 CEST (10:00 a.m. EDT) Wednesday, August 16. For call-in details, see separate press release issued Thursday, August 10, at www.vostoknewventures.com.
For further information please contact:
Björn von Sivers, Head of Investor Relations, Tel +46 8 545 015 50
Vostok New Ventures Ltd, formerly Vostok Nafta Investment Ltd, is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.
This information is information that Vostok New Ventures Ltd is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.01 CEST on August 16, 2017.
