Stockholm, 2016-11-18 11:15 CET (GLOBE NEWSWIRE) -- On October 28, 2016, Vostok New Ventures Ltd. (the “Company”) announced that the Company had entered into an agreement to acquire secondary shares in the Paris-based ride-sharing service Comuto SA (“BlaBlaCar”) in the amount of approximately EUR 32 mln through an issue in kind (the “Transaction” or the “Acquisition”). The Acquisition was conditioned upon that a special general meeting of shareholders resolved to increase the share capital of the Company. The Special General Meeting in the Company was held on Friday, November 18, 2016 at 9 am CET at Advokatfirman Vinge’s offices on Smålandsgatan 20 in Stockholm, Sweden.
The depositary receipts holders considered certain items, where the following was resolved by the Special General Meeting.
- The Special General Meeting resolved to, in accordance with the Board of Directors’ proposal, increase the Company’s issued share capital by not more than USD 1,329,438.4 by an issue of not more than 4,154,495 new common shares of USD 0.32 per share in consideration for non-cash property. The right to subscribe for depositary receipts representing the new common shares in the Company (“SDRs”) has been granted Lead Edge Capital II LP, Lead Edge Capital II QP LP and Lead Edge Partners Opportunity III LP, with a right and obligation for each of such parties to pay the Company for new common shares by non-cash property consisting of BlaBlaCar shares.
Following the Transaction, BlaBlaCar is the Company’s second largest investment, valued at some USD 112.3 mln, and represents approximately 16.9% of the latest published NAV as per September 30, 2016. Further information relating to the Acquisition, including the background and reasons thereto, is available on the Company’s website, www.vostoknewventures.com .
The SDRs for the issued shares are expected to be admitted for trading on Nasdaq Stockholm on or about November 24, 2016.
For further information please contact: Björn von Sivers, Investor Relations: +46 (0)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 11.15 CET on November 18, 2016.
