In accordance with a decision at Novestra’s Annual General Meeting held on April 26, 2005, a new fund structure, Nove Capital, has been established where external investors will have the opportunity to participate.
Subsequently, the new fund structure will, for Novestra, show a positive one-time gain during the current quarter.
Novestra also expects to have a continuous positive effect on results through the end of 2007 as a result of the administration fees that Nove Capital will generate.
Capital contributions to Nove Capital from external investors are expected already during the next quarter.
”The new structure will enable us to play an active role, and the opportunity to gain greater influence in the public portfolio companies. If the assets under management reach the level we are hoping for, Novestra will have a positive effect on results of MSEK 15-20 annually during 2006 and 2007” says Novestra’s Chairman, Theodor Dalenson
For further information please contact Theodor Dalenson, Chairman, AB Novestra, phone No. +46 8 545 017 50.
About AB Novestra
Novestra is an independent investment company with a portfolio of small cap private as well as public companies. Novestra focuses on investing in companies with substantial growth or value potential.
Novestra’s portfolio of companies consists of i.a. Active Biotech AB (publ), Bytek Systems AB, Explorica, Inc., inWarehouse AB (publ), Millicom Cellular International S.A., MyPublisher, Inc., Netsurvey AB, Pergo AB (publ), Qbranch AB, Strax Holdings, Inc. and Wilh. Sonesson AB (publ) as well as Speedera Networks, Inc. through the co-investment vehicle Continuum Group Ltd. The Novestra shares are listed on the O List of the Stockholm Stock Exchange. For further information regarding AB Novestra, reference is made to www.novestra.com .