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Ledstiernan AB (STO:LEDSB) Strong cash position, positive result for the portfolio companies gives Ledstiernan expansion possibilities
The private equity company Ledstiernan publishes its interim report for January - September 2008 today.
President Alf Blomqvist comments:
"The first nine months 2008 have meant significant improvements in Ledstiernan's operations and financial position. After the successful sale of Millennium Media Group this summer Ledstiernan today has a cash position in the parent company of MSEK 105. All major portfolio companies, Polstiernan Industri, Metrima and Katshing have shown positive operating results. Also the majority of the companies within Ledstiernan Venture showed a positive development and continues to have good prospects for the longer term. However, for some of the portfolio companies we deem that the short term market outlook has weakened. As a result, we have chosen to write down the book value of the shares in Ledstiernan Venture AB with MSEK 19 in the third quarter 2008.
Shareholders' equity in the parent company at the end of September 2008 amounted to MSEK 561, corresponding to SEK 98 per share. This can be compared to the average share price during the last four weeks of SEK 29. The strong financial position means that Ledstiernan has good possibilities to take advantage of the business opportunities that could arise during the coming year", Alf Blomqvist concludes.
The Interim Report is available at www.ledstiernan.com
About Ledstiernan Ledstiernan AB (publ) is a venture capital company with the business concept to, as an active owner, help growth companies realize their potential with a view to attain maximum tong-term value growth. The portfolio currently comprises 11 core investments. The Company's shares are listed on the OMX Nordic Exchange.
