Net asset value (NAV) of Baltic Horizon Fund (the Fund) unit as at end of April
2020 amounted to 1.3366 EUR per unit. Compared to the previous month, NAV
decreased by -0.64%. The NAV decrease was mainly affected by a declared dividend
of EUR 1.70 million recognized in April 2020 and a negative cash flow hedge
reserve movement during the month. Eliminating dividend distribution effect to
NAV, the NAV increase from operating performance and negative cash flow hedge
reserve movement during the month would have been +0.48% compared to the
previous month. EPRA NAV as at the end of April 2020 decreased to 1.4268 EUR per
unit, corresponding a decrease of -0.56% over the last month. The Fund earned an
unaudited consolidated net profit of EUR 734 thousand in April 2020.
Northern Horizon Capital AS as the management company of Baltic Horizon Fund
will continue to actively monitor the economic impact of the pandemic and assess
the Fund's receivables and potential discounts for tenants. The COVID-19 virus
outbreak will likely lead to additional provisions on the Fund's receivables
during Q2 of 2020. At the end of April 2020, the Fund had a sufficient amount of
cash (EUR 8,643 thousand) to cover its liquidity needs amid the COVID-19
pandemic.
Additional information:
Tarmo Karotam
Baltic Horizon Fund manager
E-mail tarmo.karotam@nh-cap.com
(https://www.globenewswire.com/Tracker?data=uMlftpVUP59vcFGbVHHzr_KcjChy3SCrD-
dLLbKTf0tYKkwB7G6reju32f7rd8ox82AC6Fn9dBPVvf3Ds42Jh3HUJLP5jcLLX8sWJsVvChk=)
www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=GSQVye1bgzTst_zGKIpP26VIk1zPIzIgVMWj
ti3i1cf-4E0NoN4fd-0Tfskl1CsTlTHoZAL_uWoEIZ8vsfyPcNQbnnYeu2x_1pKetGZPyYM=)
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: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm,
www.baltichorizon.com
|