Vostok New Ventures Ltd. Financial Report for the
Post# of 301275
Stockholm, May 15, 2018 (GLOBE NEWSWIRE) --
-Net result for the period was USD 26.24 million (mln) (January 1, 2017–March 31, 2017: 17.33). Earnings per share were USD 0.31 (0.20).
-The net asset value of Vostok New Ventures (“Vostok” or “the Company”) was USD 906.35 mln on March 31, 2018 (December 31, 2017: 879.99), corresponding to USD 10.72 per share (December 31, 2017: 10.40). Given a SEK/USD exchange rate of 8.3596 the values were SEK 7,576.74 mln (December 31, 2017: 7,244.35) and SEK 89.87 (December 31, 2017: 85.65), respectively.
-During the quarter January 1, 2018–March 31, 2018, the group’s net asset value per share in USD increased by 3.1%, mainly driven by the revaluation of Avito and Propertyfinder.
-During the first quarter 2018, Vostok New Ventures made two new investments in student housing platform Housing Anywhere (EUR 3.3 mln) and appointment booking marketplace Booksy (USD 6 mln). Vostok New Ventures has also invested USD 1 mln in El Basharsoft through a convertible note; USD 500k in Vezeeta through a convertible note, USD 1 mln in total in two ventures in Myanmar (USD 500k in the leading job vertical and USD 500k in the leading property vertical in the country) and USD 0.25 mln in Propertyfinder. As part of its liquidity management, Vostok New Ventures lent EUR 4 mln in short-term debt to Marley Spoon, a fast-growing grocery e-commerce company with leading market position in Australia.
-In January 2018, Vostok New Ventures received USD 10.2 mln in dividends from Avito.
-On February 14, 2018, Vostok announced that the Company has received authorization from the Board, valid until December 31, 2018, to repurchase additional SDRs, subject to remaining in compliance with the terms and conditions of the Company’s outstanding bond 2017/2020.
-During the reporting period, the Company repurchased 20,000 SDRs under the Board of Directors’ repurchase authorization of February 14, 2018.
-The number of outstanding shares (SDRs), excluding 1,125,952 repurchased SDRs, at the end of the period was 84,562,357.
The Company will hold a telephone conference with an interactive presentation at 16:00 CEST (10:00 a.m. EDT) Tuesday, May 15. For call-in details, see separate press release issued Wednesday, May 9, 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 and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on May 15, 2018.
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