Market announcement

Title

General meeting of unitholders of Baltic Horizon Fund did not have a quorum. New meeting will take place on 11 November 2016

Message

Tallinn, 2016-10-31 09:14 CET (GLOBE NEWSWIRE) --
General meeting of Baltic Horizon Fund took place on 27 October 2016. 35,7% of
votes were registered to the meeting, but according to section 10.11 of the
rules of Baltic Horizon Fund investors may adopt resolutions if more than ½ of
the votes represented by the units are present. Therefore, due to the absence
of required quorum the general meeting was unable to adopt resolutions. 

According to section 10.11 of the rules of Baltic Horizon Fund, the management
company Northern Horizon Capital AS convenes a new general meeting. 

Notice to convene general meeting of unit-holders of Baltic Horizon Fund

Hereby Northern Horizon Capital AS (address: Hobujaama tn 5, Tallinn 10151,
Estonia, hereinafter the Management Company), the management company of Baltic
Horizon Fund, calls the general meeting of unit-holders of Baltic Horizon Fund
(hereinafter the Fund) to be held on 11 November 2016 at 11.00. The meeting
will take place at Sorainen Estonian office, Pärnu mnt 15, 10141 Tallinn,
Estonia. 

The general meeting of the unit-holders of the Fund will be assembled based on
sections 10.3.3, 10.11 of the rules of the Fund and section 131(4) of the
Estonian Investment Funds Act. 

AGENDA

The agenda of the general meeting of the unit-holders of the Fund is the
following: 

1.            Decision to elect David Bergendahl as a new member of the
supervisory board of the Fund as of 11 November 2016 for a period of two years. 

2.            Decision to pay remuneration to David Bergendahl for fulfilling
obligations of the member of the supervisory board in the amount of EUR 11,000
per calendar year. 

We ask unit-holders of the Fund to send their questions and comments regarding
the election of the new member of the supervisory board to the fund manager’s
e-mail address [email protected] by 4 November 2016. The Management
Company will answer to the questions by e-mail or during the meeting (before
voting). 

EXPLANATORY NOTES FOR THE AGENDA

General note regarding agenda item 1

According to section 11.2 of the Fund rules the members of the supervisory
board shall be appointed at the general meeting for a period of at least two
years. The Management Company proposes to elect David Bergendahl as a new
member of the supervisory board. 

David Bergendahl was born in 1962 and graduated from Göteborgs universitet in
1988 receiving a Bachelor's degree in Economics. David Bergendahl has been a
co-owner and CEO in Pergamon International AB during 1988-1994.  David
Bergendahl became a co-owner and CEO of Hammarplast AB in 1994. Currently,
David Bergendahl also holds a board member seat in Torslanda Property
Investment AB (publ) and Link Prop Investment AB (publ). 

General note regarding agenda item 2

According to section 11.11 of the Fund rules supervisory board members are
entitled to remuneration for their service. The amount of remuneration payable
to the chairman and members of the supervisory board shall be decided at the
general meeting. The proposed remuneration is the same as for other members of
the supervisory board. 

PARTICIPATION IN THE MEETING

To participate at the general meeting, a unit-holder is required to have the
Fund’s units registered in its name in the register of the Fund’s units as at
ten days before the date of the general meeting, i.e. on 1 November 2016 at
23:59. 

We ask that you bring a personal identification document to the meeting and in
the case of representation we will require the presenting of the original
written power of attorney in English language (please see Annex 1 that includes
a template). In case the unit-holder is a legal person, we ask that you also
bring documentation in English language certifying the representation right of
the unit-holder’s representative or the signatory of the power of attorney.
Please note that in some cases apostilling or notarizing documents may be
necessary. In addition to bringing the originals of the documents to the
meeting, in order to facilitate smooth registration process in the meeting,
unit-holders are kindly asked to send copies of relevant documentation by 4
November 2016 to the fund manager’s e-mail address [email protected].
The participation of a representative does not deprive the unit-holder of the
right to participate at the general meeting of the Fund. 

Annex 1:

1.             Form of power of attorney to appoint a representative for the
general meeting 


More information:
Tarmo Karotam, [email protected]
Chairman of the management board of the Management Company
Fund Manager