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
Other corporate action
Unique data record identifier
6730
Attachments
Submission date and time
19.06.2018 22:55:00
Content of announcement in Estonian
Title
Baltic Horizon Fondi osakuomanike korduskoosoleku otsus
Message
Täna, 19. juunil 2018 toimus Tallinnas, Eestis Baltic Horizon Fondi
(edaspidi: Fond) osakuomanike 15. mai 2018 üldkoosoleku korduskoosolek
(edaspidi: Koosolek).
Koosolek kutsuti kokku juhindudes Fondi reeglite punktidest 10.4, 10.6, 10.11 ja
8.12 ja investeerimisfondide seaduse paragrahvi 47 lõikest 1.
Koosolekule registreeriti 11 osakuomanikku, kellele kuulus 11 628 181 osakut,
mis esindavad 14,69% kõikidest Fondi osakutest ja nendega esindatud häältest.
Kuna tegemist oli 15. mai 2018 toimunud osakuomanike üldkoosoleku
korduskoosolekuga, siis oli kooskõlas Fondi reeglite punktiga 10.11 Koosolekul
kvoorum otsuse vastuvõtmiseks.
Koosoleku päevakord oli 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.
Fondijuht Tarmo Karotam selgitas Fondi reeglite punkti 15.4.1(r) tõlgendust.
Koosolekul osalenud investorid tunnustasid ning jagasid arusaama, et Fondi
raamatupidamise kulud kuuluvad tasumisele Fondi arvelt.
Koosolekul otsustati:
Otsustati luua Fondi osakute tagasiostuprogramm ning volitati Fondivalitsejat
(või tema 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 19. juunist 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.
Otsuse poolt hääletas 99,99% koosolekul esindatud häältest (11 627 381 häält),
erapooletuks jäi 0,0069% koosolekul esindatud häältest (800 häält). Otsusele
vastuhääli ei antud. Seega oli otsus vastuvõetud.
Koosoleku ettekanne on lisatud käesolevale teatele manusena. Koosoleku protokoll
tehakse kättesaadavaks 7 päeva jooksul Fondi kodulehekülje vahendusel.
Lisainformatsioon:
Tarmo Karotam
Baltic Horizon Fund, fondijuht
E-mail [email protected]
www.baltichorizon.com (http://www.baltichorizon.com/)
Fond on registreeritud lepinguline avalik kinnine kinnisvarafond, mida valitseb
alternatiivfondivalitseja Northern Horizon Capital AS. Nii Fondi kui ka
fondivalitseja üle teostab järelevalvet Finantsinspektsioon.
Avaldamine: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm,
www.baltichorizon.com (http://www.baltichorizon.com)
Manus
* 2018 05 15 AGM Baltic Horizon presentation (https://prlibrary-
eu.nasdaq.com/Resource/Download/8317046a-1996-4eae-8f5d-d76620cdaef5)
Content of announcement in English
Title
Decision of the repeated general meeting of unitholders of Baltic Horizon Fund
Message
The repeated meeting of the 15(th) May 2018 general meeting of unitholders of
Baltic Horizon Fund (the Fund) took place today, on the 19(th) June 2018 in
Tallinn, Estonia (the Meeting).
The Meeting was assembled based on sections 10.4, 10.6, 10.11 and 8.12 of the
Fund Rules and section 47-1 of the Estonian Investment Funds Act.
11 unitholders were registered as attending to the Meeting, holding 11 628 181
Fund units which represent 14,69% of the total number of units and votes of the
Fund. As the Meeting was a repeated meeting of the 15(th) May 2018 general
meeting of unitholders, the Meeting had a quorum to adopt resolutions pursuant
to section 10.11 of the Fund Rules.
The agenda of the Meeting was 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.
Fund manager Tarmo Karotam explained the interpretation of Section 15.4.1(r) of
the Fund Rules. The investors participating at the meeting recognised and shared
the understanding that accounting costs of the Fund are borne on account of the
Fund.
The Meeting resolved:
To establish a buy-back program of Fund units and to authorise 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 19(th) June 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.
99,99% of the votes present at the Meeting voted in favour of the resolution
(11 627 381 votes), 0,0069% of the votes present at the Meeting remained
impartial (800 votes). There were no votes against the resolution. Therefore,
the resolution was adopted.
Presentation of the Meeting is attached to the announcement. The minutes of the
Meeting will be made available via website of the Fund within 7 days.
Additional information:
Tarmo Karotam
Baltic Horizon Fund manager
E-mail [email protected]
www.baltichorizon.com
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: Nasdaq Tallinn, Nasdaq Stockholm, GlobeNewswire,
www.baltichorizon.com (http://www.baltichorizon.com)
Attachment
* 2018 05 15 AGM Baltic Horizon presentation (https://prlibrary-
eu.nasdaq.com/Resource/Download/8317046a-1996-4eae-8f5d-d76620cdaef5)