Northern Horizon Capital AS (the Management Company) as the management company of Baltic Horizon Fund (the Fund) announces the offering of 15,108,000 new units of the Fund (the Offer Units. The number of new Fund units may increase further by 22,662,000, i.e. up to 37,770,000) in case the Management Company decides to use the upsizing option. Proceeds from the offering will be used to acquire cash flow-generating commercial properties in the Baltic capital cities comprising the Fund’s investment pipeline and as further described in the prospectus.
The offering consists of offering to retail investors in Estonia, Sweden, Finland and Denmark and of offering to institutional investors in selected European Economic Area jurisdictions. The Management Company plans to list the Offer Units both on Nasdaq Tallinn and on Nasdaq Stockholm.
The offering of Offer Units is based on prospectus for public offering and listing of units, registered by the Estonian Financial Supervision Authority on 8 May 2017 (the Prospectus), together with its summaries in the Estonian, Finnish, Swedish and Danish languages that are electronically available on the website of the Fund www.baltichorizon.com. An investor may ask the Management Company to send the prospectus together with its summary electronically by e-mail request to firstname.lastname@example.org. Delivery of a hard copy of the prospectus and its summary at the location of the Management Company, at Tornimäe 2, 10145, Tallinn can be requested by sending an e-mail to email@example.com as well.
Overview of the key terms of the offering:
1. The subscription period, during which it is possible to subscribe for Offer Units, commences at 10:00 on 9 May 2017 and ends at 16:00 on 31 May 2017 (Estonian time). In CET time zone, the relevant times of day are 09:00 and 15:00.
2. In order to subscribe for Offer Units, an investor should contact Swedbank AB, LHV Pank AS or Catella Bank S.A and register a transaction instruction for the purchase of units in the form as set out by Swedbank AB, LHV Pank AS or Catella Bank S.A respectively. Retail investors wishing to subscribe for units in Estonia should contact a custodian that operates such investors’ securities account at the Estonian Central Registry of Securities.
3. The Offer Price for unit is EUR 1.3220 which is equal to the NAV of the unit of the Fund as at 30 April 2017. Purchase orders can only be submitted for a full number of units and the minimum amount of a purchase order is 200 units.
4. The Fund has one class of units and the Offer Units are from the same class.
5. In order to receive Offer Units subject to trading on Nasdaq Tallinn, the investor is required to have a securities account with the Estonian Central Registry of Securities. In order to receive Offer Units subject to trading on Nasdaq Stockholm, the investor is required to have a securities account (VP-konto) or a custodian account (värdepappersdepå) with a Swedish bank or investment firm (only Fund units held with Euroclear Sweden are subject to trading on Nasdaq Stockholm).
For a more detailed overview of the Fund and terms of the offering, please refer to the Prospectus.
· on 9 May 2017 the subscription period commences;
· on 31 May 2017 the subscription period ends;
· on 1 June 2017 the latest the Management Company will decide on the allocation of Offer Units;
· on or about 5 June 2017 the allocated units will be transferred to the securities accounts of the investors or persons acting on their behalf against payment for the number of units subscribed for by each investor;
· on or about 5 June 2017 Offer Units will be admitted to trading on Nasdaq Tallinn;
· on or about 9 June 2017 Offer Units will start trading on Nasdaq Stockholm.
Baltic Horizon Fund manager
The 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. Both the Fund and the Management Company are supervised by the Estonian Financial Supervision Authority.
Distribution: Nasdaq, GlobeNewswire, 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 23:32 EEST on 8 May 2017.