NAXS Nordic Access Buyout Fund publ : Year-end Report 2016

NAXS paid a dividend of SEK 2.50 per share for the fiscal year 2015. Fourth quarter 2016

Net profit/loss for the quarter amounted to MSEK 38.9 (-25.0).  Earnings per share amounted to SEK 2.62 (-1.68).

Distribution of profits

The Board of Directors intends to make the dividend to be proposed for the fiscal year 2016 dependent on the amount that may be distributed under the form of
share repurchases during the first quarter of 2017.

The Board of Directors intends to propose a dividend of maximum SEK 2.70/share for the fiscal year 2016, corresponding to SEK 40,090,415.40 at December 31, 2016.
The actual level of the dividend will be set as the difference between SEK
40,090,415.40 and the amount that has been distributed under the form of share repurchases during the period between January 1 and March 31, 2017. The Board of Directors will announce the level of the proposed dividend ahead of the publication of the notice of the 2017 Annual General Meeting

In addition, the Board of Directors proposes to the Annual General Meeting to vote on a continued share repurchase mandate.

Comments by the CEO

We were pleased to see NAXS continue to make good progress during 2016, with the net asset value per share increasing by 12.2%, including the dividend paid. This performance was generated by a strong exit activity, positive valuation developments in the remaining portfolio, as well as positive currency effects.

During the past year, NAXS's underlying funds made 3 new acquisitions, 10 full exits, and 4 partial exits through initial public offerings.
Worth mentioning for 2016 were also the adoption of a revised investment policy and the shortening of the company's name from NAXS

Nordic Access Buyout Fund AB (publ) to NAXS AB (publ).
NAXS currently has a robust balance sheet, with a relatively high proportion of cash, which the company continues to selectively seek to deploy. After the end of the reporting period,