Northern Horizon Capital AS hereby announces that Baltic Horizon Fund has signed a market-making agreement with Sedermera Corporate Finance AB (“Sedermera”), which has undertaken to act as market maker to enhance the liquidity of the Swedish depository receipts of Baltic Horizon Fund (the “SDRs”). Under the agreement, Sedermera will provide liquidity on both bid and ask sides for the SDRs for at least 85 percent of the trading time on Nasdaq Stockholm stock exchange (“Nasdaq Stockholm”). Market making service is commencing from the first day of trading with the SDRs on Nasdaq Stockholm. The first day of trading with the SDRs on Nasdaq Stockholm will be announced separately and is pending on the confirmation by Nasdaq Stockholm on the market-making arrangement.
Approximately 92% of the Baltic Horizon Fund units (the “Units”) which were held in Euroclear Sweden were converted into SDRs during the SDR offering period. The unitholders who are still holders of the Units held in Euroclear Sweden will have possibility to convert the Units into the SDRs until the end of October after which Euroclear Sweden will appoint a sales agent to sell such Units and pay out the proceeds (less sales costs and any applicable taxes) to the cash account connected with the respective Swedish Investor’s securities account. The price for such sale may differ from the current market price of the Units trading on Nasdaq Tallinn stock exchange. More information about converting is available here.
For additional information, please contact:
Baltic Horizon Fund manager
Baltic Horizon Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS.
Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com