Northern Horizon Capital AS as the management company of Baltic Horizon Fund
(the Fund) has approved a cash distribution of approx. 0.98% of the Fund's Q2
2021 weighted average net asset value to its unitholders. This equals approx.
EUR 1.32 million in total and EUR 0.011 per unit. The pay-out also represents a
5.0% rolling distribution yield for the past 12 months based on the closing unit
price of the last day of Q2 2021 on the Nasdaq Tallinn stock exchange.
In Q2 2021, the Fund generated an unaudited Generated Net Cash Flow (GNCF) from
operations of approx. EUR 2.20 million. With a reduced payout of EUR 1.32
million in light of prevailing market uncertainty, the Fund has opted to retain
EUR 0.88 million of distributable cash flow. The Fund has opted to increase its
dividend reserve to EUR 5.96 million.
The Fund's Management Board decided to maintain a stable distribution amount
compared to last quarter to keep pay-out ratio in line with distribution levels
during the first wave of the COVID-19 pandemic. The management company believes
that it is in the best interest of all unitholders and other stakeholders to
reduce cash distribution until the Fund recovers from the second wave of the
COVID-19 pandemic. The reduced cash distribution will improve the Fund's
liquidity which should offer additional safety and capability to seize
opportunities in the market when the economy stabilizes.
In total, the Fund has paid out EUR 7.07 million from the operating results of
the last twelve months (EUR 3.11 million from Q3 2020, EUR 1.32 million from Q4
2020, EUR 1.32 million from Q1 2021 and EUR 1.32 million from Q2 2021).
Payments will be distributed from the Fund on 16 August 2021. The ex-date is on
11 August 2021. Unitholders entitled to receive distributions will be determined
according to a unitholders list as of 12 August 2021 end of the business day in
T2S settlement system (Record date).
For additional information please contact:
Tarmo Karotam
Baltic Horizon Fund manager
E-mail tarmo.karotam@nh-cap.com
(https://www.globenewswire.com/Tracker?data=AlWmqb-
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EwkSXgSV-JCdxqO7eo5Q=)
www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=1jegeeeOqfAgyyV8B56w6trwSwgVQnQDdvJN
0zZBKv0TUNzwEVUM5aDSFdipkiXlN4cI8xj_bQGi2UGnLuWal2PSMy4hEjo8ciW9xO__hQE=)
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.
Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm,
www.baltichorizon.com (http://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
16:10 EET on the 28th of July 2021.
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