Announcement from the Annual General Meeting of East Capital Explorer AB (publ) on 21 April 2015

2015-04-22 08:01

The Meeting adopted the income statements and balance sheets included in the
Board of Directors' Annual Report for the parent company and the East Capital
Explorer Group for the fiscal year 2014.

The Meeting resolved to allocate this year's result in accordance with the Board
of Directors' proposal, meaning that no dividend will be paid to the
shareholders and that the profits will be carried forward.

The Meeting granted the members of the Board of Directors and the CEO discharge
from liability for the period covered by the Audit Report.

The Meeting resolved that the number of Directors to serve until the close of
the next Annual General Meeting shall be six (6).

The Meeting resolved to leave the compensation to the Directors unchanged until
the next Annual General Meeting, corresponding to SEK 770,000 for the Chairman
of the Board of Directors and SEK 330,000 for each of the other Directors. It
was also resolved that the compensation to the Vice Chairman of the Board shall
amount to SEK 550,000. Members of the Board of Directors who are employed in the
East Capital Group do not receive any remuneration. The Meeting resolved, in
accordance with the proposal of the Nomination Committee, that the remuneration
to a Director may, subject to a specific agreement with the company, be invoiced
through a company or entity. In order for the company to enjoy cost neutrality,
the invoiced remuneration shall be adjusted for social security charges and
value added tax. The Meeting also resolved to leave the compensation for work in
the Audit Committee unchanged, corresponding to SEK 100,000 for the Chairman of
the Audit Committee and SEK 50,000 for each of the other members. Furthermore,
it was resolved that fees to the auditor be paid according to approved invoices
under a given offer.

Lars O Grönstedt, Liselotte Hjorth, Peter Elam Håkansson and Alexander Ikonnikov
were re-elected as Directors of the Board and Mikael Nachemson and Jenny Rosberg
were elected as new Directors. Paul Bergqvist and Louise Hedberg declined re-
election. Lars O Grönstedt was elected as Chairman of the Board and Mikael
Nachemson as Vice Chairman of the Board.

The Annual General Meeting resolved to re-elect the registered auditing company
KPMG as auditor up until the end of the Annual General Meeting 2019. KPMG will
be instructed to substitute the auditor in charge when so required according to
the Swedish Companies Act.

The Meeting approved the proposal regarding criteria for appointment of the
Nomination Committee.

The Meeting approved the Board of Directors' proposal regarding guidelines for
remuneration to senior management.

The Meeting authorized the Board of Directors to decide on repurchase of own
shares in accordance with the proposed resolution.

The Meeting approved the Board of Directors' proposal to reduce the share
capital by way of voluntary redemption of the company's ordinary shares for
repayment to the shareholders, and to increase the share capital by way of a
bonus issue.

At the meeting of the Board of Directors held after the Annual General Meeting,
members of the Audit Committee were elected. Lars O Grönstedt was elected
Chairman of the Audit Committee and Liselotte Hjorth and Mikael Nachemson were
elected members of the Audit Committee.

Contact information:

Lars O Grönstedt, Chairman of the Board, East Capital Explorer +46 8 505 97 700
Mia Jurke, CEO, East Capital Explorer, +46 8 505 885 52

Financial reporting calendar

  * Interim Report, Q1 2015 - 13 May 2015
  * Interim Report, Q2 2015 - 20 Aug 2015
  * Interim Report, Q3 2015 - 5 Nov 2015

About East Capital Explorer

East Capital Explorer AB (publ) is a Swedish investment company, created with
the specific aim of bringing unique investment opportunities in Eastern Europe
to a broader investor base. The company makes direct investments into private
and public companies but investments are also made through East Capital's
private equity, real estate and alternative investment funds. East Capital
Explorer's main investment theme is domestic growth and the Company targets fast
growing sectors such as Retail and Consumer goods, Financials and Real Estate.
East Capital Explorer has appointed East Capital to manage its investment
activities. East Capital Explorer is listed on Nasdaq Stockholm, Mid Cap.

     Listing: Nasdaq Stockholm, Mid Cap - Ticker: ECEX - ISIN: SE0002158568 -
                   Reuters: ECEX.ST - Bloomberg: ECEX SS Equity

This information is disclosed in accordance with the Securities Markets Act, the
Financial Instruments Trading Act and demands made in the exchange rules. It was
released for publication at 08:00 a.m. CET on 22 April 2015.

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 Source: East Capital Explorer AB via GlobeNewswire

150422 - Pressrelease