Market announcement
Baltic Horizon Fund / Northern Horizon Capital AS
LEI code
5299008IKT93E4SA0G49
Size of the entity
Small undertaking
Economic activities
Financial and Insurance Activities
Industry sector(s)
Management company
Country of registered office
Estonia
General information
Categories
Announcement of General Meeting
Unique data record identifier
6688
Attachments
Submission date and time
25.05.2018 20:45:00
Content of announcement in Estonian
Title
Baltic Horizon Fond osakuomanike uue üldkoosoleku kokkukutsumise teade
Message
15. mail 2018 toimus Baltic Horizon Fund (edaspidi: Fond) osakuomanike üldkoosolek, millel ei olnud otsuste vastuvõtmiseks esindatud vajalik arv hääli. Kooskõlas Fondi reeglite punktiga 10.11, kutsub fondivalitseja Northern Horizon Capital AS (edaspidi: Fondivalitseja) teatab käesolevaga uue üldkoosoleku, sama päevakorraga. Fondi osakuomanike kordusüldkoosolek (Üldkoosolek) toimub 19. juunil 2018 algusega kell 15:00 (Eesti aja järgi). Koosolek toimub asukohaga Coca Cola Plaza kinos, Hobujaama 5, 1015, Tallinn, Eesti. Koosolekule registreerimine algab kell 14:00 (Eesti aja järgi). Osakuomanike üldkoosolek kutsutakse kokku juhindudes Fondi reeglite punktidest 10.4, 10.6 ja 8.12 ja investeerimisfondide seaduse paragrahvi 47 lõikest 1. Fondi osakute ja häälte koguarv käesoleval hetkel on 79,157,094. Üldkoosoleku päevakord Fondi Üldkoosoleku päevakord on järgmine: 1. Fondi 2017.a majandusaasta aruande ja audiitoraruande ning 2018.a I kvartali vahearuande ülevaade; 2. Fondi reeglite punkti 15.4.1(r) tõlgendamise ülevaade; 3. Otsus Fondi osakute tagasiostu programmi loomise kohta; Palume Fondi osakuomanikel saata päevakorra punktidega seotud küsimused ja märkused fondijuhi e-maili aadressile [email protected] hiljemalt 12. juunil 2018.a. Fondivalitseja vastab küsimustele üldkoosoleku ajal. Õigus üldkoosolekul osalemiseks ja teavitus osalemisest Korralisel üldkoosolekul osalemiseks on õigustatud osakuomanik, kelle nimel on Fondi osakuomanike Nasdaq CSD SE poolt peetavas registris registreeritud Fondi osakuid 10 päeva enne üldkoosoleku toimumist, s.o 8. juuni 2018.a Nasdaq CSD SE tööpäeva lõpu seisuga. Üldkoosolekul sujuva registreerimise protsessi toimimise huvides palume osakuomanikel, kes hoiavad osakuid enda nimel Nasdaq CSD SE poolt peetavas osakuomanike registris, teavitada Fondivalitsejat oma Üldkoosolekul osalemisest soovist, saates allpool kirjeldatud info Fondivalitseja e-maili aadressile [email protected] (https://www.globenewswire.com/Tracker?data=lTdegjvBdtaNju6IB5S3swSRay6lfbpF66z5 gns1pWpUUxANYucBHfi0esIuk0ZMBEGambI9n_loYScKzOpBGSu3HzUjnwgdfhUBE7ZsJnk=) hiljemalt 12. juunil 2018. Teavitus peaks sisaldama informatsiooni investori nime, isikukoodi (juriidilise isiku puhul registrikoodi), aadressi ja esindatud osakute arvu; samuti, juhul kui see on asjakohane, Üldkoosolekul osaleva esindaja informatsiooni koos tema nime ja isikukoodiga. Üldkoosolekul esindaja osalemine ei välista ka osakuomaniku enda osalemist üldkoosolekul. Juhised Euroclear Sweden AB, Rootsi süsteemis registreeritud osakute omanikele Palume osakuomanikel, kellele kuuluvad osakud on registreeritud Euroclear Sweden AB, Rootsi süsteemis, teavitada Fondivalitsejat oma Üldkoosolekul osalemisest soovist, saates allpool toodu info Fondivalitseja e-posti aadressile [email protected] (https://www.globenewswire.com/Tracker?data=lTdegjvBdtaNju6IB5S3swSRay6lfbpF66z5 gns1pWp7AlySd5qqGvJdjU_LpyEZzPSsqoM6oQvYBd- 34kbyBSsNwGmSU8ywwlIzm7wnnSE=) hiljemalt 12. juunil 2018. Teavitus peaks sisaldama investori nime, isikukoodi (juriidilise isiku puhul registrikoodi), aadressi ja esindatud osakute arvu; samuti, juhul kui see on asjakohane, Üldkoosolekul osaleva esindaja informatsiooni koos tema nime ja isikukoodiga. Üldkoosolekul esindaja osalemine ei välista ka osakuomaniku enda osalemist üldkoosolekul. Volikirja alusel esindamine Palume osakuomanikel, keda esindatakse Üldkoosolekul volikirja aluse, esitada selleks kirjalik volikiri eesti või inglise keeles (käesoleva teate lisaks nr 1 on volikirja näidis). Volikirja koopia tuleb samuti enne Üldkoosolekut esitada Fondivalitsejale ülalmainitud e-posti aadressile koos teavitusega soovist Üldkoosolekul osaleda. Juhul kui volikirja on andud juriidiline isik, tuleb esitada ka kinnitatud koopia registrikaardist või sellega võrdsest dokumendist ja kui asjakohane, siis ka kinnitatud koopia dokumendist, mis tõendab volikirja allkirjastanud isiku esindusõigust. Kuna Fond on registreeritud Eestis, siis juhime tähelepanu, et välisriigis välja antud volikirja ja registrikaardi koopia (juriidiline isik) puhul on nõutav ka dokumendi notariaalne kinnitamine ning teatud juhtudel ka apostille'i lisamine (apostille'i lisamise kohustus kehtib mh nt Rootsis või Soomes väljastatud ning notariaalselt tõestatud volikirjadele). Instruktsioonid Üldkoosoleku päevaks Palume Üldkoosolekul osalejatel olla valmis esitama isikut tõendav dokument (pass või ID kaart). Füüsilisest isikust aktsionäri esindajal palume esitada isikut tõendav dokument (pass, ID kaart) ning, kui asjakohane, esindusõiguse aluseks oleva volikirja originaaldokument. Juhul kui osakuomanik on juriidiline isik, palume esitada inglise keelsed dokumendid, mis tõendavad osakuomaniku esindamise õigust ja kui asjakohane, siis volikirja allkirjastanud isiku esindusõigust. Fondivalitseja kasutab teabe, mille Fondivalitseja kogub volikirjade ja Nasdaq CSD SE poolt peetava osakuomanike registri ning Euroclear Sweden AB, Rootsi süsteemis registreeritud osakute omanike kohta, osakuomanike Üldkoosolekule registreerimise ja hääletamise nimekirjade ettevalmistamiseks. Fondivalitseja ettepanekud Üldkoosoleku päevakorra punktide osas 2. Fondi reeglite punkti 15.4.1(r) tõlgendamine Fondi reeglite punkt 15.4.1(r) ütleb, et muud Fondi investeeringutega seotud tegevus- ja finantskulud, muuhulgas, kuid mitte üksnes jooksvad kapitalikulud, kantakse Fondi edukaks funktsioneerimiseks Fondi arvel. Kahtluste vältimiseks informeerib Fondivalitseja käesolevaga ja selgitab asjassepuutuvatele isikutele, et Fondi raamatupidamise kulud kuuluvad Fondi investeeringutega seotud tegevuskulude alla ning need kuuluvad kandmisele Fondi arvel. 3. Otsus Fondi osakute tagasiostuprogrammi kohta Fondivalitseja ettepanek on, et Üldkoosolek otsustab luua Fondi osakute tagasiostuprogrammi ning volitab Fondivalitsejat (või temal mandaadil tegutsevat isikut) omandama Fondi arvel Fondi osakuid järgmistel tingimustel: i. Fondi osakute tagasiostu tehingud tehakse kas Nasdaq Tallinna või Nasdaq Stockholmi reguleeritud turul kooskõlas vastava turu reeglitega ning rangelt kooskõlas kohalduva õigusega; ii. Tagasiostuprogrammi eesmärk on tugevdada Fondi kapitalistruktuuri omandades Fondi osakuid hinnaga, mis on alla Fondi osaku puhasväärtust antud hetkel; iii. Tagasiostud tehakse hinnaga, mis on alla Fondi osaku puhasväärtust antud hetkel; iv. 12-kuulise perioodi jooksul, mis algab 15. maist 2018, võidakse omandada kuni 5,000,000 osakut kuni 5,000,000 euro eest; v. Fondi poolt tagasiostetud ja hoitavate osakute koguarv ei tohi ühelgi ajahetkel ületada 10% Fondi osakute koguarvust; vi. Omandatud osakute eest tasutakse rahas; vii. Fondile kuuluvad osakud ei anna Fondile või Fondivalitsejale mingeid osakutest tulenevaid õigusi; viii. Fondivalitseja tühistab Fondile kuuluvad osakud vähemalt 3 kuu jooksul pärast nende omandamist; ix. Fondivalitseja on saanud kinnituse Eesti Finantsinspektsioonilt ja/või Rootsi Finantsinspektsioonilt selle kohta, et ülalkirjeldatud tingimustel Fondi osakute tagasiostuprogramm mahub turukuritarvituste määruses nr 596/2014/EU sätestatud erandi sisse; Käesoleval hetkel ei kuulu Fondi oma osakuid. Annex 1: 1. Volikirja näidis Üldkoosolekul osakuomanike õiguste teostamiseks (eesti keeles) 2. Volikirja näidis Üldkoosolekul osakuomanike õiguste teostamiseks (inglise keeles) Lisainformatsioon: Tarmo Karotam Baltic Horizon Fund, fondijuht E-mail [email protected] (mailto:[email protected]) www.baltichorizon.com (http://www.baltichorizon.com) Fond on registreeritud lepinguline avalik kinnine kinnisvarafond, mida valitseb alternatiivfondivalitseja Northern Horizon Capital AS. Avaldamine: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com Manused * Annex 1- poa - General Meeting of Unitholders EST (https://prlibrary- eu.nasdaq.com/Resource/Download/917cbe7e-0894-4a99-a8e3-a38657a1e184) * Annex 1- poa - General Meeting of Unitholders ENG (https://prlibrary- eu.nasdaq.com/Resource/Download/1663dfc5-7c80-445b-9697-d2e3dde7fccd)
Content of announcement in English
Title
Notice to convene new general meeting of unitholders of Baltic Horizon Fund
Message
Annual general meeting of Baltic Horizon Fund (the Fund) took place on 15 May
2018 but due to the absence of required quorum the general meeting was unable to
adopt resolutions.
According to section 10.11 of the rules of the Fund, the management company
Northern Horizon Capital AS (the Management Company) convenes a new general
meeting, with the same agenda.
The new general meeting of unitholders of the Fund (the AGM) is to be held on
19(th) June 2018 at 15:00 (EST) Coca Cola Plaza cinema, Hobujaama 5, 10151,
Tallinn, Estonia. Registration for the meeting will start at 14:00 (EST) i.e.
local Estonian time.
The general meeting of the unit-holders of the Fund is assembled on the basis of
sections 10.4, 10.6 and 8.12 of the rules of the Fund and section 47-1 of the
Estonian Investment Funds Act.
The total number of units and votes in the Fund amounts to 79,157,094.
Agenda for the AGM
The agenda of the general meeting of the unitholders of the Fund is the
following:
1. Presentation on the FY2017 annual report together with auditor's report of
the Fund and interim report of 2018 Q1;
2. Presentation of the interpretation of Section 15.4.1(r) of the Fund Rules;
3. Resolution on establishment of Fund units buy-back program.
All unitholders are welcomed to send any questions and comments regarding the
agenda to the fund manager's e-mail address [email protected]
(https://www.globenewswire.com/Tracker?data=3TwCtGqNfHfh3Scd_IF1Qvsgm8LTW5CaIVI2
vL6x80fXoWdwp8-0bFtOhZCH5pcaIHEKiD7_VWxx9oO5BFXacCDDMX-x0rVdaU3hFIk9odg=) by
12(th) June 2018. The Management Company will answer to the questions during the
meeting.
Requirements for the right to participate at the AGM and notification of
participation
Unitholders who are entered in the unitholders registry of the Fund maintained
by Nasdaq CSD SE at ten days before the date of the general meeting, i.e. on
08(th )June 2018 at the end of business day of Nasdaq CSD SE, are entitled to
participate at the AGM.
Unitholders whose units are registered in the unitholders' own name in the
unitholders registry maintained by Nasdaq CSD SE are invited, in order to
facilitate smooth registration process at the meeting, to notify of their wish
to attend the meeting by 12(th) June 2018 to the Management Company's e-mail
address [email protected]
(https://www.globenewswire.com/Tracker?data=lTdegjvBdtaNju6IB5S3swSRay6lfbpF66z5
gns1pWrNRoFDrLEGs_-ceOZgIDmURz96AXvhwjnSoEKVDASgxIPGFQtBBu0TPXzJsYrhi20=).
Notification of participation shall include the name, personal identification
number (or the registration number of the legal person), address, amount of
units represented and, if applicable attendance of any representatives together
with their name and personal identification number. We note that the
participation of a representative does not deprive the unitholder of the right
to participate at the AGM of the Fund.
Instructions to holders of Fund units registered with Euroclear Sweden AB in
Sweden
Notification of participation in the AGM shall be made at the latest on
12(th) June 2018 preferably before 16 pm EST to Management Company's e-mail
address [email protected]
(https://www.globenewswire.com/Tracker?data=lTdegjvBdtaNju6IB5S3swSRay6lfbpF66z5
gns1pWrAC2MwC9lZaHiLtWYd1nlCMouNF9qFm-HVZIc_p_xKavCibR2pdKE2RzPauX1hcqA=).
Notification of participation shall include the name, personal identification
number (or the registration number of the legal person), address, amount of
units represented and, if applicable attendance of any representatives together
with their name and personal identification number. We note that the
participation of a representative does not deprive the unitholder of the right
to participate at the AGM of the Fund.
Representation under a power of attorney
Unitholders who are represented under a power of attorney are requested to
prepare a written power of attorney for the representative in Estonian or
English language (please see Annex 1 that includes templates).
The copy of the executed power of attorney should be presented to the Management
Company at the above-mentioned e-mail address together with the notification for
participation prior to the AGM. In case the power of attorney is issued by a
legal person, a certified copy of the registration certificate or an equivalent
certificate of authority shall be also submitted, together with, if applicable,
the documents certifying the authorisation rights of the representative in case
the power of attorney is signed by a person under a power of attorney.
Since the Fund is registered in Estonia, please note that the powers of attorney
issued in a foreign state and a certified copy of the registration certificate
of a legal person should be notarised and also accompanied with an apostille, if
applicable (apostille requirement applies, for example, for powers of attorney
issued and notarised in Sweden and in Finland).
Instructions for the AGM day
We kindly ask that you bring a personal identification document to the meeting
and in the case of representation also present the original written power of
attorney in English or Estonian language. In case the unitholder is a legal
person, documentation in Estonian or English language certifying the
representation right of the unitholder's representative or the signatory of the
power of attorney shall be also requested.
The data collected by the Management Company from powers of attorney, the
unitholders registry maintained by Nasdaq CSD SE and the list of holders of
units registered in the Euroclear Sweden AB, Sweden system will be used by the
Management Company for registration and preparation of the voting list for the
AGM.
The Management Company's proposals on the AGM items
2. Interpretation of Section 15.4.1(r) of the Fund Rules
Section 15.4.1(r) of the Fund rules provides that all other operational and
financial expenses attributable to investments of the Fund, including but not
limited to capital expenditures are payable on account of the Fund for the
functioning of the Fund. For the avoidance of doubt, the Management Company
hereby informs and clarifies for all stakeholders that the accounting costs of
the Fund are considered operational expenses attributable to investments of the
Fund and are to be borne on account of the Fund.
3. Resolution on units buy-back program.
The Management Company proposes that the AGM resolves to establish a buy-back
program of Fund and authorises the Management Company (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 the Fund by purchasing units at the price lower than the NAV
of the Fund unit at the time;
iii. Re-purchases are made at the price level lower than NAV of the Fund unit
at the time;
iv. Maximum of 5,000,000 units may be repurchased during the period of 12
months starting from 15(th) May 2018 for the maximum amount of EUR
5,000,000;
v. The aggregate number of units purchased and held by the 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 the Fund shall not grant any unitholder rights to the
Fund or to the Management Company;
viii. the Management Company shall cancel the Units within 3 months after the
re-purchase.
ix. The Management Company has received confirmation from the Estonian
Financial Supervision Authority and the Swedish Financial Supervisory
Authority that the buy-back program of the Fund on the above terms falls
under the safe harbours of the Market Abuse Regulation No 596/2014/EU.
The Fund currently does not own any own units.
Annex 1:
1. Form of power of attorney to appoint a representative for the general
meeting (in Estonian)
2. Form of power of attorney to appoint a representative for the general
meeting (in English)
Additional information:
Tarmo Karotam
Baltic Horizon Fund manager
E-mail [email protected]
(https://www.globenewswire.com/Tracker?data=PnhAWhLS5t8I_h_9Y6TvDc5yFmjZKzunx8dZ
XMFosm6rBeW70bUYVP2zRjxTe6Zow7JVirYD7jP8quf9wyRFcJ-T405sbLnZjC1H-_O1i44=)
www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=wU5drFVgpbnf0RYA7nC3a5NLY8ABY6z_LeUQ
PSZObGnJvLqPW0-6KFl7H1rJETw1Jpi1Jgl2LoFMzHDRopEPT2r7n4CDLosSYszSgf7Fvh0=)
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
Attachments
* Annex 1- poa - General Meeting of Unitholders EST (https://prlibrary-
eu.nasdaq.com/Resource/Download/917cbe7e-0894-4a99-a8e3-a38657a1e184)
* Annex 1- poa - General Meeting of Unitholders ENG (https://prlibrary-
eu.nasdaq.com/Resource/Download/1663dfc5-7c80-445b-9697-d2e3dde7fccd)