As announced on 7 April 2016, the Board of East Capital Explorer AB has resolved to initiate a share buyback program for as long as the Company’s shares trade at a discount of more than 20 percent to its most recently published NAV in Swedish krona. The repurchase program was launched on 20 May 2016. The purpose of the buyback program is to reduce the share capital of East Capital Explorer.
“Launching a broad and active buyback program with a clear discount target is aligned with our aim to increase shareholder value as an independent investment company. We currently have substantial liquid investments that are not seen as core and that can be allocated to buybacks. This would, however, not mean that we put new investments completely on hold, but that any new investment would need to be carefully evaluated against buybacks”, said Mia Jurke, CEO of East Capital Explorer in a comment on 7 April.
For more information, please refer to press release on 20 May 2016.
Daily updated information regarding repurchased shares is available on Nasdaq Stockholm: http://www.nasdaqomx.com/transactions/markets/nordic/corporate-actions/stockholm/repurchases-of-own-shares