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EEII reports a net loss of CHF 13.4 mio (2011: net loss of CHF 7.6 million) for the year 2012. In this period the fair value of EEII’s equity holdings decreased by almost 50 % or CHF 13.8 mio. During the reporting period, EEII’s net asset value (NAV) decreased by 56 % from CHF 22.44 to 9.77 per share.
A dividend payout of CHF 3.50 per share to EEII’s shareholders was responsible for 16 % of the NAV decrease in 2012.
During the reporting period, EEII’s net asset value (NAV) decreased by 56 % from CHF 22.44 to 9.77 per share. This large decrease is partially explained by a dividend payment of CHF 3.50 per share, which the Company announced and distributed to its shareholders in the first quarter of 2012. This dividend payout to shareholders amounted to CHF 5,343,533 and explains 16 % of the NAV decrease in 2012.
In absolute terms, the Company reports a net loss of CHF 13.4 million (2011: net loss of CHF 7.6 million). The investment holdings of EEII remained unchanged during the reporting period. The fair value of the equity holdings thereby decreased by almost 50 % in 2012 (around CHF 13.8 million).
Beyond the dividend payout, the other economic key drivers for the loss were the negative share price performances of the primary investments in a deteriorating market environment. The Ukrainian electricity companies in the portfolio of EEII suffered price declines of almost 50 % while the share price of Ukrnafta, the leading Ukrainian oil and gas producer, decreased by 68 % and Gazprom lost 13 % in value in 2012. Also the Kazakh, UK listed natural resources group Eurasian Natural Resources Corporation “ENRC” could not escape the general downtrend in the natural resources sector, and more than halved its share value in 2012.
For further details also see www.eeii.ch/reports/2012.html
The Annual General Meeting of EEII AG will take place on
March 28, 2013, at 11 a.m. at the Parkhotel Zug in Zug.
Please refer to the attached pdf document to view the invitation to the meeting
Agenda in German
For questions please contact:
Mr. Beat Imwinkelried (Phone: +41-43-299 62 00). EEII is listed on the Swiss Exchange (SIX) (Bloomberg: EEII SW Equity).