Market announcement

EfTEN Real Estate Fund AS

Category

Other corporate action

Date

05.09.2024 08:00:00

Title

EfTEN Real Estate Fund AS plaanib uute aktsiate avalikku emiteerimist

Message

EfTEN  Real Estate Fund AS-i juhatus esitles nõukogule ettepanekut uute aktsiate
emiteerimiseks,   mille   eesmärgiks   on   uute  kavandatavate  investeeringute
finantseerimine.   Emissiooni   esialgseks   mahuks   on  planeeritud  10% fondi
praegusest   omakapitalist   (ligikaudu   20 miljonit   eurot),   mida  võidakse
ülemärkimise  korral suurendada kuni 15%-ni  fondi omakapitali mahust (ligikaudu
kuni  30 miljonit eurot).  Fond kaalub  uute aktsiate  emiteerimist hinnaga, mis
vastab  fondi aktsia 60 päeva  aritmeetilisele keskmisele sulgemishinnale Nasdaq
Tallinna   väärtpaberiturul.  Lisaks  aktsiate  pakkumisele  Eestis,  kaalutakse
aktsiate  pakkumist  ka  Lätis  ja  Leedus. Uued aktsiad planeeritakse noteerida
Nasdaq Tallinna väärtpaberiturul.

Fondi   juhatuse   arvates   on   mitu   aastat  paigal  seisnud  Balti  riikide
kinnisvaraturg    intressimäärade    langemise    toel   pöördumas.   Samas   on
välisinvestorite  huvi siinse  kinnisvaraturu vastu  endiselt sisuliselt olematu
ning  uut väliskapitali hetkel  sisenemas ei ole.  Sellises olukorras näeb fondi
juhatus   häid   võimalusi  fondi  kinnisvaraportfelli  kasvatamiseks  soodsatel
tingimustel.

Avaliku   emissiooni   eeltingimuseks   on   aktsionäride   üldkoosoleku   poolt
aktsiakapitali  suurendamise otsuse vastuvõtmine ja aktsiate pakkumise prospekti
Finantsinspektsioonis  registreerimine.  Fond  teatab  täiendavalt börsisüsteemi
kaudu  üldkoosoleku toimumise ajast, kohast ja päevakorrast. Samuti  avaldatakse
täiendavalt  börsisüsteemi kaudu  avaliku pakkumise  täpsed tingimused prospekti
registreerimisel.

Viljar Arakas
juhatuse liige
Tel. 655 9515
E-post: viljar.arakas@eften.ee

Title

EfTEN Real Estate Fund AS considers new public offering of shares

Message

The  management board of EfTEN Real Estate  Fund AS presented to the supervisory
board  a proposal for issuing new shares, the purpose of which is to finance new
planned  acquisitions. The volume of the issue is initially planned to be 10% of
the  fund's current  equity capital  (approximately 20 million  euros), which in
case  of oversubscription  can be  upsized to  15% of the  fund's equity capital
(approximately  30 million euros). The fund is considering issuing new shares at
a  price that  corresponds to  the 60-day  simple average  closing price  of the
fund's  shares on  the Nasdaq  Tallinn stock  exchange. In  addition to offering
shares  in  Estonia,  offering  shares  in  Latvia  and  Lithuania is also being
considered.  The new shares are planned to be listed on the Nasdaq Tallinn stock
exchange.

The  management board of the fund sees that the real estate market of the Baltic
countries,  which has  been stagnant  for several  years, is  about to  turn the
corner  supported by falling interest  rates. At the same  time, the interest of
foreign  investors in the Baltics' real  estate market is still essentially non-
existent,  and  no  new  foreign  capital  is  entering at the moment. In such a
situation, the board of the fund sees good opportunities to grow the fund's real
estate portfolio under favorable conditions.

The  precondition for  the public  offering is  the adoption  of the decision to
increase  the  share  capital  by  the  general  meeting of shareholders and the
registration   of   the  offering  prospectus  with  the  Financial  Supervision
Authority. The fund will additionally announce the time, place and agenda of the
general  meeting through the stock exchange  system. The exact conditions of the
public  offering will also be additionally  published through the stock exchange
system upon registration of the prospectus.

Viljar Arakas
Member of the Management Board
Phone 655 9515
E-mail: viljar.arakas@eften.ee