Vostok New Ventures Ltd. Financial Report for the Fourth Quarter and Twelve Months Period 2018
Stockholm, Feb. 13, 2019 (GLOBE NEWSWIRE) --
Net result for the period was USD -4.86 million (mln) (January 1, 2017-December 31, 2017: 161.39). Earnings per share were USD -0.06 (1.94).Net result for the quarter was USD -36.14 mln (144.96). Earnings per share for the quarter were USD -0.43 (1.71).The net asset value of Vostok New Ventures ("Vostok" or "the Company") was USD 876.71 mln on December 31, 2018 (December 31, 2017: 879.99), corresponding to USD 10.37 per share (December 31, 2017: 10.40). Given a SEK/USD exchange rate of 8.971 the values were SEK 7,864.96 mln (December 31, 2017: 7,244.35) and SEK 93.01 (December 31, 2017: 85.65), respectively.The group's net asset value per share in USD decreased by 0.4% over the period January 1, 2018-December 31, 2018.During the quarter October 1, 2018-December 31, 2018, the group's net asset value per share in USD decreased by 3.9%.On November 13, 2018, Vostok New Ventures announced a material transaction in BlaBlaCar. BlaBlaCar has entered into an agreement with SNCF to acquire Ouibus, a market-leading French bus operator. BlaBlaCar also announced a EUR 101 mln funding round involving SNCF and existing BlaBlaCar investors. The transaction resulted in a positive revaluation of Vostok New Ventures' holding in BlaBlaCar by approximately 34.8% or EUR 35.6 mln compared to the BlaBlaCar valuation per September 30, 2018.After the end of the period, on January 25, 2019, Vostok New Ventures announced it had sold all its shares in Avito for a total consideration of USD 540 mln, which is the same valuation as per December 31, 2018. On January 28, 2019, Vostok gave notice of a Special General Meeting to be held on February 14, 2019, to resolve the Board of Directors' proposal to transfer approximately USD 236 mln (SEK 25 per share) to its shareholders through a share split and mandatory redemption program.On January 28, 2019, the Company announced an early redemption of all outstanding bonds of series 2017/2020 and series 2018/2022. The number of outstanding shares (SDRs), excluding 1,125,952 repurchased SDRs, at the end of the period was 84,562,357.On January 29, 2019, Vostok New Ventures announced that the Company's Board of Directors had resolved on a renewed mandate to repurchase SDRs. After the end of the period Vostok New Ventures repurchased an additional 3,280,118 SDRs under the new mandate. As per February 12, 2019, the number of outstanding shares (SDRs), excluding 4,406,070 repurchased SDRs, was 81,282,239.
The Company will hold a telephone conference with an interactive presentation at 16:00 CET (10:00 a.m. ET) Wednesday, February 13. For call-in details, see separate press release issued Thursday, February 7, at www.vostoknewventures.com.
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.
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