Market announcement

Title

Notice on Public Offering, Listing and Admission to Trading of Shares of EfTEN Real Estate Fund III AS

Message

EfTEN  Real  Estate  Fund  III  AS  (registry code 128640036, address A. Lauteri
5, 10114 Tallinn)  hereby announces  a public  offering of  shares of EfTEN Real
Estate  Fund III AS and informs about  the contemplated listing and admission to
trading  of the new shares on the regulated market operated by Nasdaq Tallinn AS
(register  code 10359206). The Public  Offering is based  on the decision of the
general meeting of shareholders on 17 April 2019.

Public Offering of Shares
EfTEN  Real Estate Fund III  AS offers up to  1 000 000 new ordinary shares, for
all  natural and legal persons in Estonia in accordance with the Public Offering
Prospectus.  An  investor  may  subscribe  to  any amount of shares offered. The
minimum  and maximum number of shares offered that can be subscribed for has not
been  established. Existing shareholders of the  fund, i.e. the persons who have
been  entered in the  list of shareholders  of the fund  as of 7 May 2019 COB of
Nasdaq  CSD, have a pre-emptive right to  subscribe for new shares in proportion
to  the sum of the nominal values of  their shares. The above, however, does not
preclude  the existing  shareholders' right  to subscribe  more or  less for the
shares  offered or not to subscribe for  the shares offered. Existing shares are
not sold in the Offer.

The  offering price of one  share offered is 16 euros,  of which 10 euros is the
nominal value of the share offered and 6 is the issue premium.

The  subscription of the  shares offered is  carried out in  Estonia through the
account  managers of Nasdaq CSD SE Estonian branch. The subscription order shall
include the following information:

 Securities account holder:               Name of the investor

                                          Securities   account  number  of  the
 Securities account:                      investor

                                          Name  of  the  investor's  securities
 Securities account manager:              account manager

                                          EfTEN  Real  Estate  Fund  III aktsia
 Security:                                additional 5

 ISIN:                                    EE3800046817

                                          The  number of  shares offered, which
 Quantity of securities:                  the investor wishes to subscribe

 Price (per share):                       16,00 EUR

                                          Number  of shares  offered, which the
                                          investor    wishes    to   subscribe,
                                          multiplied   by   the  price  of  the
 Transaction price:                       offered shares

 Counterparty of transaction:             EfTEN Real Estate Fund III AS

 Counterparty's securities account:       99102006845

 Counterparty's     securities    account
 manager:                                 Swedbank AS

 Settlement date:                         10.06.2019

 Type of transaction:                     ?Purchase"

 Settlement type:                         ?Delivery versus payment "

Subscription  orders to participate in the offer  can only be presented in euros
and  the participant in the offer covers all the costs related to presenting the
subscription order and fees payable.

The time schedule of the offering of the shares is as follows:

 16.05.2019 at 09:00    Start of the subscription period of the shares

 31.05.2019 at 16.00    End of the subscription period of the shares

 On or about 05.06.2019 Approval of the distribution of shares

                        Transfer   of   the  shares  to  investors'  securities
 On or about 10.06.2019 accounts

                        The   increase  of  the  share  capital  is  presumably
 On or about 18.06.2019 registered in the Commercial Register

                        Expected listing of the shares and admission to trading
                        on  the regulated market operated  by Nasdaq Tallinn AS
 On or about 20.06.2019 (on Baltic Main List)

Listing and Admission to Trading of Shares
EfTEN  Real Estate Fund III  AS has applied for  listing and trading all offered
shares  of the fund on the Nasdaq  Tallinn Stock Exchange Main List. While every
effort  will be made and due  care will be taken in  order to ensure the listing
and the admission to trading of the shares, EfTEN Real Estate Fund III AS cannot
ensure that the shares are listed and admitted to trading.

Availability of Prospectus
The  public offering, listing  and admission to  trading prospectus of shares of
EfTEN  Real Estate Fund III  AS can be obtained  at the office EfTEN Real Estate
Fund  III AS at A. Lauteri 5, Tallinn  (III floor) and in electronic format from
fund's  website www.eref.ee  (https://eref.ee/)  and  from  the  website  of the
Financial Supervision Authority www.fi.ee (http://www.fi.ee).
Additionally,  the prospectus  is attached  to this  notice on  public offering,
listing and admission to trading of shares of EfTEN Real Estate Fund III AS.

Before  investing into  shares of  EfTEN Real  Estate Fund  III AS we ask you to
acquaint yourself with the whole prospectus.




Viljar Arakas
Member of the Management Board
Phone: 655 9515
E-mail: [email protected]