EEII's net asset value per share ("NAV") dropped by 91.8 % in Q4 2022 and closed the quarter at CHF 0.31 per share (Q3 2022: CHF 3.80 per share).
/ Investments
Portfolio composition and news
As reported on the occasion of the publication of the half-year results on August 25, 2022, the Gazprom ADRs in EEII's portfolio were exchanged for ordinary shares of Gazprom PJSC listed on the Moscow exchange. These shares remain under custody with UBS Switzerland AG.
Despite observable prices and a liquid market, due to the current sanctions against Russia and the retaliation measures taken by the Russian Federation against international investors, the Moscow Stock Exchange is currently not deemed to be accessible for international investors such as the Company, and it is equally unclear if and how the Company could dispose of this asset. For this reason, the Board of Directors decided to revalue the Company's holding with an impairment charge of 99 % as of December 31st 2022. For details on the assumptions of this decision we refer to the annual report 2022 published on April 28th, 2023.
Meanwhile, Gazprom shares traded in a broad range of RUB 215 - 160 during Q4, thereby indicating, that significant potential value remains in this investment.
› Facts and figures
History
›
Inception
8/97
›
Public listing (SWX)
1/99
›
Capital reduction
4/03
›
Capital decrease
8/14
Capital structure
›
1,527,510 bearer shares
› par value of CHF 7.10
› Last payment to the share-holders
of CHF 1.12 derived from the
capital decrease (ex-date
26/08/2014)
Board of directors
› Victor L. Gnehm (Chairman)
›
Christoph Offenhäuser
Advisory fee
Flat fee, payable quarterly
Share identification
›
Valor 716 295
›
ISIN CH0007162958
Bloomberg
EEII SW Equity
Registered office
EEII AG
Alpenstrasse 15
6300 Zug
CEO
Marcus H. Bühler
Advisor
Weissenstein & Partner AG, Zurich
Administrator
MSZ Group AG Zug
Custodians
UBS AG, Zug
Auditor
BDO Ltd, Zurich
Independent Rep.
Philipp Andermatt, Bright Law AG
of Shareholders
Portfolio
per share
MCHF
%
Net current assets
0.50
94.3%
Investments
0.03
5.7%
Total assets
0.53
100%
NAV (31/12/22)
audited
0.31
0.47
NAV (30/09/22)
3.80
5.8
NAV (30/06/22)
0.65
1.0
NAV (31/03/22)
0.73
1.2
NAV (31/12/21)
audited
4.62
7.1
/ Future Prospects
On December 23rd, 2022 Gehold SA, Zug, the main shareholder of EEII AG, sold its entire participation in EEII AG (92.41%) to SEBRINA HOLDING SUISSE SA, Geneva. More information regarding the strategic plans for EEII AG will be made public on the occasion of the forthcoming General Assembly which will take place on June 5th, 2023, in Zug.
EEII AG l Alpenstrasse 15 l 6300 Zug l Switzerland
www.eeii.ch l contact@weissenstein-partner.ch l phone +41 41 729 42 80 l fax +41 41 729 42 29
/ /
Investments
at
fair
owner-
(in 1,000 CHF)
cost
value
ship
Gazprom
8,143
0,003
0.00%
Total
8,143
0,003
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Disclaimer
EEII AG published this content on 28 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2023 15:59:34 UTC.
Eeii AG is a Switzerland-based investment holding company. The investment objective of the Company is to maximize long-term return to shareholders through investing in companies in the energy and infrastructure sectors that are primarily active in the emerging markets, in particular the former Soviet Union. As of December 31, 2011, the Company held 13 investments: 10 energy utilities from Ukraine: Centrenergo, Dniproenergo, Donbasenergo, Kievenergo, Zakhidenergo, Cherkasyoblenergo, Dniprooblenergo, Krimenergo, Volynobelenergo, and Zhytomyroblenergo; one Ukrainian oil and gas producer: Ukrnafta; one Russian gas company: Gazprom ADR, and one Kazakh commodity company: Eurasian Natural Resources Corp.
EEII AG 
