Notice on the results of public offering of Swedish Depository Receipts of Baltic Horizon Fund in Sweden

Northern Horizon Capital AS hereby announces the public offering of up to 119,635,429 of Baltic Horizon Fund’s („Fund“) Swedish Depository Receipts (the “SDR“) in Sweden (the „SDR Offering“) ended at 12:00 CEST on 17 October 2022. In total, 22,599,522  units of the Fund (the “Units”) will be converted into the SDRs (whereby each one (1) Unit shall be converted into one (1) SDR).

Northern Horizon Capital AS has submitted a listing application for trading the SDRs on Nasdaq Stockholm. The SDRs will be issued and delivered on 19 October 2022 and the first day of trading with the SDRs on Nasdaq Stockholm will be about 19 October 2022 (the exact date will be announced separately).

Since the issue of the SDRs was made through conversion of Units only, there were no new proceeds for the Fund to utilise by way of this SDR issue. The total number of the outstanding Units have remained the same as prior to the SDR Offering, i.e. 119,635,429 Units. 22,599,522 Units, covering the total amount of the SDRs issued, were deposited at Nordic Issuing AB’s – who is acting as the SDR issuing agent – account with Swedbank Estonia.

After the end of the SDR Offering period, the unitholders have a right to convert Units into SDRs (and vice versa) on an ongoing basis. The unitholder who are holders of Units held in Euroclear Sweden will have such a possibility 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. More information about converting is available here.

For additional information, please contact:        

Tarmo Karotam
Baltic Horizon Fund manager
E-mail tarmo.karotam@nh-cap.com
www.baltichorizon.com

Baltic Horizon Fund is a registered contractual public closed-end real estate fund managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS.

Distribution: Nasdaq Tallinn, Nasdaq Stockholm, GlobeNewswire, www.baltichorizon.com.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.