Business
Unistream Investment Update
Unistream Investment Update.
About this update from Aurrigo International Plc
[{"type":"text","content":"\n Aurora Russia Limited\n27 July 2007\n\n\n27 July 2007\n\nAurora Russia Limited completes second stage of investment in Unistream Bank\n\nAurora Russia Limited ('Aurora Russia' or the 'Company'), the AIM-quoted\ninvestment vehicle established to make equity or equity-related investments in\nsmall and mid-sized private companies in Russia, announces today that it has\ncompleted the second stage of its investment in Unistream Bank ('Unistream').\nThis brings the Company's total shareholding in Unistream to 26%.\n\nAurora Russia initially invested $13.6 million (£6.9 million) for a 17.7% stake,\nwhich was announced in April 2007. Having just received approval from the\nCentral Bank of Russia to take a stake of over 20% in Unistream, Aurora Russia\nhas purchased an additional 8.3% stake for $6.4 million (£3.1 million).\nManagement accounts show that $1.85 billion was transferred through Unistream in\n2006 making it one of the leading money transfer companies in Russia. Management\nhave also stated that by June 2007 its monthly volumes had reached $300 million,\nrepresenting approximately a 90% increase over the same period in 2006.\n\nJames Cook and John McRoberts, two Directors of Aurora Russia Limited,commented:\n\n'We have been delighted with the investment in Unistream to date and are pleased\nto have secured this increased holding. The Russian money transfer market\ncontinues to show extremely high rates of growth and is one of the fastest\ngrowing money transfer regions in the world. '\n\n\nEnquiries\n\nAurora Russia Limited\nJames Cook, Moscow +7 495 644 1662\nJohn McRoberts, London +44 (0) 20 7839 7112\n\nInvestec Investment Banking\nRupert Krefting +44 (0) 20 7597 5133\nPaul Gray +44 (0) 20 7597 5176\n\nFinancial Dynamics\nEd Gascoigne-Pees +44 (0) 20 7269 7132\nFelicity Murdoch +44 (0) 20 7269 7243\n\n\nNotes to editors:\n\nAurora Russia\n\nAurora Russia floated on the Alternative Investment Market of the London Stock\nExchange on 24 March 2006. The Company has been established to make equity or\nequity related investments in small and midsized private Russian companies\nfocused on the financial, business and consumer services sectors where the\nDirectors believe there is potential for growth together with viable exit\nopportunities within two to four years of making such investments. The Company\nintends to provide it...