Northern Horizon Capital AS (the Management Company) will file application with the Estonian Central Register of Securities to cancel and delete all 5,900 units of Baltic Horizon Fund (the Fund) that are held on its own account. Before cancellation of units total number of units of the Fund is 57,264,743. After cancellation the total amount of units will be 57,258,843.
Acquiring as well as cancellation of the units is implemented based on the procedure in the Fund rules. Acquisition of own units by the Fund was done with the sole purpose of stabilisation of the unit price after the initial public offering in Tallinn in 2016. Units were acquired on 7 July 2016 and respective stock exchange release was made on 16 August 2016.
The Fund rules provide that units held on the account of the Fund must be sold or cancelled within 3 months after the purchase. The breach of the aforementioned provision will be eliminated by applying for the cancellation of the units and the cancellation that will happen thereafter. The delay has not resulted in damaging the rights of the unitholders as the units held by the Fund do not grant any unitholder rights to the Fund or to the Management Company, including no rights to receive distributions from the Fund.
Baltic Horizon Fund manager
Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com
The information was submitted for publication, through the agency of the contact person of GlobeNewswire, at 16:06 EET on 3rd of March 2017.