Market announcement
EfTEN Real Estate Fund AS
LEI code
4851000008JBI71L7643
Size of the entity
Medium group
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
6894
Submission date and time
25.09.2018 19:50:10
Content of announcement in Estonian
Title
EfTEN Real Estate Fund III AS lükkab plaanitud aktsiaemissiooni edasi
Message
Seoses EfTEN Real Estate Fund III AS oportunistliku ja väärtust lisava investeerimisstrateegiaga sobivate kinnisvaraobjektide pakkumise madalseisuga Balti riikides otsustas Fondi juhatus mitte kutsuda kokku aktsionäride üldkoosolekut käesoleva aasta oktoobris ja lükata edasi plaanitud täiendav aktsiaemissioon 2019. aasta kevadeni. Eelmisel nädalal teatas fond Tähesaju kaubanduspargis Hortese aianduskeskuse ehitamisega alustamises. Hortese uue aianduskeskuse ehitamiseks on fondil vajalikud omavahendid olemas ning lisakapitali kaasata ei ole vaja. Juhul kui 2018. aasta lõpus või 2019. aasta alguses sobivaid investeerimisobjekte peaks siiski leiduma, on fondil võimalus kaasata ajutist sildfinantseeringut, mis hilisema aktsiaemissiooni käigus omakapitalina refinantseeritakse. Fond plaanib täiendava aktsiaemissiooni läbi viia 2019. aasta II kvartalis. Viljar Arakas juhatuse liige Tel. 655 9515 E-post: [email protected]
Content of announcement in English
Title
EfTEN Real Estate Fund III AS postpones the planned new share emission
Message
In connection with the low supply of suitable real estate properties with an appropriate opportunistic and value-added investment strategy for EfTEN Real Estate Fund III in the Baltic States, the Fund management board has decided not to convene a general meeting of shareholders in October this year and postpone its planned new share emission until the spring of 2019. Last week, the Fund announced the start of the construction works of the Hortes gardening center at Tähesaju commercial district in Tallinn. For the construction of a Hortes new gardening center, the Fund has the necessary equity and no additional capital is needed. If, however, at the end of 2018 or early 2019, suitable investment objects should be available, the Fund has an option to agree a temporary bridge financing which will be refinanced with equity in the later new share issue. The Fund intends to proceed with an additional share issue in the 2nd quarter of 2019. Viljar Arakas Member of the Management Board Phone: 655 9515 E-mail: [email protected]