During the second quarter of 2006, Novestra received dividends from Continuum Group Ltd and Qbranch AB, amounting to MSEK 22.8. The dividend from Continuum is a further step in the wind-down process. The dividends will have a positive effect on the result for the second quarter.
The wind-down of Continuum is expected to be completed during 2007, and when the process is completed, Novestra expects an additional dividend of shares in Akamai, listed at Nasdaq in the US.
The investments in the venture portfolio have continued to show growth during the second quarter. The process to divest, or create a liquidity event, in the private companies, continues.
The development in Novestra’s investment in Nove Capital has been satisfactory during the quarter, compared to the market in general.
“We are satisfied with the development during the quarter, even though we are somewhat concerned by the general market situation, and the volatility. The development in the individual private companies is good, and the various processes to divest, or create a liquidity event, continues as planned, even though the market situation during the last quarter might delay the processes slightly” says Peter Ekelund, Managing Director, Novestra.
For further information please contact:
Peter Ekelund, Managing Director, AB Novestra, phone No. +46 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 Bytek Systems AB, Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc.
In addition, Novestra has an investment in Nove Capital Fund, that primarily invests in public companies which are considered to have a value potential because of special situations such as reconstructions, turnarounds or for other reasons offer a significant upside potential and therefore an interesting risk/reward.
The Novestra shares are listed on the O List, Attract 40, of the Stockholm Stock Exchange. For further information regarding AB Novestra, reference is made to www.novestra.com