Announcement View
Company Baltic Horizon Fund / Northern Horizon Capital AS
Type Company Release
Category Other corporate action
Publicize date 21 Jun 2022 18:00:00 +0300
Languages
Kell English
Currency
Title Resolution of Baltic Horizon Fund repeat general meeting of unit-holders
Content
A repeat Annual General Meeting of Baltic Horizon Fund investors took place on
21 June 2022 in Stockholm, Sweden.

The  repeat meeting was convened  as the required quorum  was not reached during
the  initial Annual General  Meeting on 7 June  2022. In accordance with section
10.11 of  the fund rules  of Baltic Horizon  Fund the repeat  General Meeting is
permitted  to adopt resolutions regardless of the number of votes represented at
the meeting, unless otherwise stipulated in the fund rules.

5 unitholders were registered as attending to the meeting, holding 16,192,446
Baltic Horizon Fund units which represent 13,5% of the total number of votes of
the fund.

The agenda of the meeting was the following:

 1. Presentation of the FY2021 audited annual report of Baltic Horizon Fund, and
    interim report of Q1 2022;
 2. Presentation of the status with units traded on Nasdaq Stockholm due to
    Euroclear Sweden agreement termination on 30 September 2022;
 3. Resolution on establishment of Baltic Horizon Fund units buy-back program.

The  resolution  to  approve  the  Baltic  Horizon  Fund buy-back program and to
authorise  Northern Horizon  Capital AS  (or a  person acting  on its behalf) to
acquire  fund units  on behalf  of the  fund was  voted for by 100% of the votes
represented  at  the  meeting  (16,192,446  votes). The resolution was therefore
passed.

Fund manager Tarmo Karotam gave an overview of the topics on the agenda.

The General Meeting resolved:

To  establish a buy-back program of  Baltic Horizon Fund and authorises Northern
Horizon  Capital AS (or person  acting under its mandate)  to acquire the fund's
own units, under the following conditions:

    i. The re-purchases of units are executed either on Nasdaq Tallinn and/or
       Nasdaq Stockholm in accordance with the rules of Nasdaq Tallinn and/or
       Nasdaq Stockholm applicable and strictly in line with applicable
       legislation;
   ii. The purpose of the re-purchase program is to strengthen the capital
       structure of Baltic Horizon Fund by purchasing units at the price lower
       than the NAV of the unit at the time;
  iii. Re-purchases are made at the price level lower than NAV of Baltic Horizon
       Fund unit at the time;
   iv. Maximum of 10,000,000 units may be repurchased during the period of 36
       months starting from 30 June 2022 for the maximum amount of EUR
       10,000,000;
    v. The aggregate number of units purchased and held by Baltic Horizon Fund
       shall not exceed 10% of the total number of fund units at any time;
   vi. Payment for the units shall be made in cash;
  vii. The units held by Baltic Horizon Fund shall not grant any unitholder
       rights to the fund or to Northern Horizon Capital AS;
 viii. Northern Horizon Capital AS shall cancel the units purchased within 3
       months after the re-purchase.

The         meeting         recording         is         available         here.
(https://www.youtube.com/watch?v=CUJw1R1ER-I) The minutes of the meeting will be
made available within seven days via the website of the Baltic Horizon Fund.

For additional information, please contact:

Tarmo Karotam
Baltic Horizon Fund manager
E-mail tarmo.karotam@nh-cap.com
(https://www.globenewswire.com/Tracker?data=WtiFwtO82DP9k6IDOnZytJIyYKnzOadnx1W_
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www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=RMhTqoFCX4OWy6AcLjtNSTdH99Z0tHVErHRH
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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
(https://www.globenewswire.com/Tracker?data=RMhTqoFCX4OWy6AcLjtNSTdH99Z0tHVErHRH
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