Divestments and dividends in 2013
The Group’s result amounted to MSEK -19.4 (1.1) corresponding to -0.54 (0.03) per share. Equity, as at March 31, 2013 amounted to MSEK 259.2 (313.0) corresponding to SEK 7.56 (8.61) per share. The Group’s cash and holdings in listed shares amounted to MSEK 20.9 (20.4).
Two of Novestra’s portfolio companies have appointed advisors in ongoing M&A and IPO processes with a possible divestment or listing in both cases within the next 9 months. Value indications resulted in adjustments of carried values in both cases.
The prospects in 2013 for the portfolio companies are positive. The remaining portfolio consists of companies and subsidiaries which show both strong cash flow and good profitability which allows for good opportunities in the ongoing work with exit strategies.
The Annual General Meeting held on April 26, 2012 renewed the Boards mandate to purchase the company’s own shares. The Board resolved to commence the purchase of own shares and a total of 1 657 407 shares have been purchased since February 2012.
The total return on the Novestra share since 2002 including dividends amounts to 206.7 percent, corresponding to an annual return of 11.5 percent. The total return index for the Stockholm stock exchange during the same period gave a return of 8.1 percent per year.
“The ongoing process to realize the values in the portfolio is expected to be either through industrial sales or through listings in combination with distribution of shares to Novestra’s shareholders. We expect two of the current holdings are divested within 9 months and thereafter have established the future strategy for Novestra. Dividends will be made in connection with divestments during the current year” says Johan Heijbel, Managing Director, Novestra.
For further information, please contact Johan Heijbel, Managing Director AB Novestra, +46 (0) 8 545 017 50.
About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of privately held growth companies including Explorica, Inc., MyPublisher, Inc., and Strax Group GmbH. In addition, Novestra has an investment corresponding to approximately 6 percent of the shares in WeSC AB, listed on First North.
The Novestra shares are listed on NASDAQ OMX Stockholm, under the symbol NOVE, in the Small Cap section. For further information regarding AB Novestra, reference is made to www.novestra.com
The information provided in this report is such that AB Novestra is obliged to make public according to the Securities Market Act (sv. lagenomvärdepappersmarknaden). The information has been released to the media for publication on April 25, 2013 at 8.55 am (CET).
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