Decision on quarterly cash distribution:
Northern Horizon Capital AS as the management company of Baltic Horizon Fund has approved a cash distribution of approx. 1.17% of Baltic Horizon Fund’s Q2 2022 weighted average net asset value to its unitholders. This equals approx. EUR 1.56 million in total and EUR 0.013 per unit. Baltic Horizon Fund aims to strengthen its cash balance position due to expected volatility in the market by not distributing the full generated cash flow. The pay-out also represents a 6.9% rolling distribution yield for the past 12 months based on the closing unit price on the last day of Q2 2022 on the Nasdaq Tallinn stock exchange.
In Q2 2022, Baltic Horizon Fund generated an unaudited Generated Net Cash Flow (GNCF) from operations of approx. EUR 2.3 million. GNCF increased by EUR 0.4 million compared to Q1 2022. Baltic Horizon Fund aims to maintain an annual distribution rate from GNCF at 80% and reinvest the remaining 20% into projects to boost future cash flow. In total, Baltic Horizon Fund has paid out EUR 7.42 million from the operating results of the last twelve months (EUR 2.03 million from Q3 2021, EUR 2.27 million from Q4 2021, EUR 1.56 million from Q1 2022 and EUR 1.56 million from Q2 2022).
Payments will be distributed from the Baltic Horizon Fund on 16 August 2022. The ex-date is on 11 August 2022. Unitholders entitled to receive distributions will be determined according to a unitholders list as of 12 August 2022 end of the business day in the T2S settlement system (Record date).
Change in cash distribution frequency:
The management company of Baltic Horizon Fund has approved changes to cash distribution frequency. Starting from July 2022, Baltic Horizon Fund’s cash distribution frequency will be changed from quarterly to semi-annually. Cash distributions for Q3 2022 and Q4 2022 results will be announced together at the beginning of 2023.
Change in the financial calendar:
The distribution decision and payment to investors of Baltic Horizon Fund for Q3 2022 results will no longer be disclosed as per the financial calendar applicable to this date. Previously the planned disclosure time of the distribution decision and payment was week 43/46. The updated financial calendar is available on the Baltic Horizon Fund webpage.
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
This announcement contains information that the management company is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above distributors, at 19:22 EET on the 28th July 2022.