Eastern Property Holdings Limited (EPH) announces 2016 Year End Results

Eastern Property Holdings Limited (EPH) / Eastern Property Holdings Limited (EPH) announces 2016 Year End Results . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

27 April 2017, Road Town, Tortola, BVI

Eastern Property Holdings Ltd (EPH), the real estate investment company, today announces audited 2016 year-end results:

• NAV of $36.35 per share - increased from $35.54 at YE2015
• Net loss for the period of $70.5 million is mainly a result of foreign exchange losses of US$85.1 million which are partially overlapped by the positive change in cumulative translation adjustment in the amount of $67.1 million (reflected directly in the equity)
• The Company's investment properties held at fair value are $761.6 million (31 December 2015: $661.8 million). The increase is mainly caused by acquisition of 94% of CityGate office and retail property in Stuttgart, Germany.  The value of the remaining portfolio of the Group decreased by only less than 2% and was able to show a positive operating result before taxes of more than US$7 million if not considering the impact from currency fluctuations.
• In December 2016, the Company issued 4,635,890 ordinary shares and sold it on the market. As a result of this share issue and taking into account 2016 financial results, the Group's equity increased to $363.03 million
  (31 December 2015: $189.01 million).

Our annual report, including full financial statements, is available on the company's website:
http://www.easternpropertyholdings.com/investors/reports.php

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CONFERENCE CALL WITH MANAGEMENT

Please join management for a conference call to discuss EPH's 2016 results today,

Friday, 12 May 2017 at 3:00 p.m. (CET)

Dial in: [phone]

Access Code: 714753

A presentation for the call will be posted on the company's website shortly before the call, www.easternpropertyholdings.com

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Property Holdings Ltd. is an investment company listed on SIX Swiss Exchange which holds interest in office, residential and retail properties. EPH is managed by Valartis International Ltd. a wholly-owned subsidiary of Valartis Group AG.

Additional information on Eastern Property Holdings is available by contacting Anna Bernhart Tel: [phone].

EPH announces 2016 Results

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Eastern Property Holdings Limited (EPH) via Globenewswire

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Eastern Property Holdings Limited (EPH)
Valartis Asset Management SA Geneva Switzerland

WKN: 250817;ISIN: VGG290991014;