Vostok New Ventures Ltd. Six Months Report Covering the Period January 1, 2016–June 30, 2016
Stockholm, 2016-08-17 08:00 CEST --
- Net result for the period was USD 23.08 million (mln) (January 1, 2015–June 30, 2015: 52.78). Earnings per share were USD 0.31 (0.72).
- Net result for the quarter was USD 18.95 mln (39.95). Earnings per share for the quarter were USD 0.26 (0.54).
- The net asset value of the Company was USD 526.33 mln on June 30, 2016 (December 31, 2015: 503.44), corresponding to USD 7.17 per share (December 31, 2015: 6.85). Given a SEK/USD exchange rate of 8.4813 the values were SEK 4,463.98 mln (December 31, 2015: 4,204.90) and SEK 60.78 (December 31, 2015: 57.21), respectively.
- The group’s net asset value per share in USD increased by 4.3% over the period January 1, 2016–June 30, 2016.
- During the quarter April 1, 2016–June 30, 2016 the group’s net asset value per share in USD increased by 3.5%.
- During the quarter, Vostok New Ventures has invested USD 1.2 mln (SEK 10 mln) in Swedish-founded Carable (Garantibil), which aims to become a fully automated peer-to-peer marketplace for used cars.
- On May 16, the Company announced that the Board of Directors had resolved to mandate the Company to repurchase up to 10% of the outstanding shares of the Company. During the quarter, Vostok New Ventures has repurchased 50,507 SDRs (shares).
- On June 2, the Company announced that it had successfully placed three-year senior secured bonds in the amount of SEK 300 million. The bonds, maturing in June 2019, bear a fixed coupon of 6.50% with quarterly interest payments. The Company has been approved for listing of the bond loan on Nasdaq Stockholm. The first day of trading was July 8, 2016.
- On July 21, the Company announced that it had entered into an agreement to acquire secondary shares in Paris-based ride-sharing service Comuto SA (“BlaBlaCar”) in the amount of approximately EUR 40 mln at the same valuation as Vostok’s initial investment in BlaBlaCar in September 2015. The acquisition was approved by the special general meeting of shareholders in Vostok held on August 5, 2016. The new Swedish Depository Receipts (SDRs) for the issued shares were admitted for trading on Nasdaq Stockholm on August 11, 2016.
- During August, Vostok New Ventures has invested an additional USD 2.5 mln in OneTwoTrip.
- The number of outstanding shares at the end of the period was 73,449,048.
The Company will hold a telephone conference with an interactive presentation at 16:00 CEST (10:00 a.m. EDT) Wednesday, August 17. For call-in details, see separate press release issued Monday, August 15, 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 08.00 CEST on August 17, 2016.