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
8190
Submission date and time
29.07.2020 19:30:00
Content of announcement in Estonian
Title
Baltic Horizon Fondi võlakirjaomanikud kiitsid võlakirjatingimuste ajutise muudatuse heaks
Message
Baltic Horizon Fund taotles 6. juulil 2020 avaldatud kirjaliku
hääletusprotsessiga ajutist omakapitali suhtarvu puudutava finantskinnituse
alandamist võlakirjade tingimustes (Tingimused) seoses Baltic Horizon Fondi 50
miljoni euro väärtuses emiteeritud 5-aastase tähtajaga tagamata võlakirjadega,
mille lunastustähtaeg on 2023. aastal (ISIN EE3300111467; Võlakirjad).
Kirjalikus hääletusprotsessist olid õigustatud osa võtma investorid, kelle
nimele oli Nasdaq CSD SE poolt peetavas registris registreeritud Võlakirju 3.
juuli 2020 seisuga (Investorid). Vastava teate saatis Investoritele 6. juulil
2020 võlakirjaomanikke esindav agent Intertrust (Sweden) AB (Agent).
Kokku osalesid Tingimuste muutmise kirjalikus hääletusprotsessis Investorid,
kellele kuuluvate Võlakirjade nimiväärtus moodustas kokku 31,202 miljonit eurot,
mis on 62,40% kõigi hääleõiguslike Võlakirjade nimiväärtusest. Seega saavutati
otsuse kirjalikuks vastuvõtmiseks vajalik kvoorum.
Hääletuses osalenud Investorite hulgast hääletasid Investorid, kellele kuuluvate
Võlakirjade nimiväärtus moodustas kokku 21,33 miljonit eurot, mis moodustab
68,36 % kõigi hääletuses osalenud Võlakirjade nimiväärtusest, alljärgneva otsuse
poolt:
1. muuta Tingimuste punktis 11.3.1(a) sätestatud kohustust kuni
31.juulini 2021 ning sõnastada see järgmiselt:
a. Grupi Omakapitali suhtarv on kakskümmend viis (25) protsenti või kõrgem;
(Tingimustes inglise keeles: (a) the Equity Ratio of the Group is twenty five
(25) per cent. or greater;)
1. 1.augustil 2021 muutub punkti 11.3.1(a) sõnastus automaatselt ning
taastatakse selle algne sõnastus nagu sätestatud algsetes Tingimustes, s.o:
a. Grupi Omakapitali suhtarv on kolmkümmend viis (35) protsenti või kõrgem.
(Tingimustes inglise keeles: (a) the Equity Ratio of the Group is thirty
five (35) per cent. or greater.)
Seega saavutati kirjaliku menetluse teel otsuse vastuvõtmiseks vajalik
poolthäälte enamus ja Investorid võtsid otsuse vastu.
Vastuvõetud otsus on vastavalt Tingimuste punktile 14.12 siduv kõigile
Investoritele sõltumata sellest, kas nad osalesid hääletuses, hääletasid otsuse
vastu või jätsid hääletamata.
Lisainformatsiooni saamiseks palume kontakteeruda:
Tarmo Karotam
Baltic Horizon Fondi fondijuht
E-mail [email protected] (mailto:[email protected])
www.baltichorizon.com (http://www.baltichorizon.com)
Baltic Horizon Fond on registreeritud lepinguline avalik kinnine kinnisvarafond,
mida valitseb alternatiivfondivalitseja Northern Horizon Capital AS.
Avaldamine: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm,
www.baltichorizon.com
Content of announcement in English
Title
Bondholders of Baltic Horizon Fund approved the temporary amendment to the bond terms and conditions
Message
Baltic Horizon Fund applied for temporary reduction of equity covenant in the
terms and conditions of the Bonds (the Terms and Conditions) in relation to
Baltic Horizon Fund EUR 50 million 5-year unsecured bonds maturing in 2023 (ISIN
EE3300111467; the Bonds) by way of written procedure announced on 6 July 2020.
Bondholders who were entered in the registry of bond-holders maintained by
Nasdaq CSD SE on 3 July 2020 were entitled to vote in the written procedure (the
Bondholders). A notice by Intertrust (Sweden) AB acting as the agent for
Bondholders (the Agent) was sent to the Bondholders on 6 July 2020.
Altogether Bondholders, who hold in aggregate Bonds with the nominal value of
EUR 31.202 million which is 62.40% of the aggregate nominal value of all Bonds,
participated in the written procedure for amending the Terms and Conditions.
Therefore, the quorum for adopting the decision by way of written procedure was
reached.
Amongst the participating Bondholders, those who hold Bonds in aggregate with
the Nominal Value of EUR 21.33 million which constitutes 68.36% of the aggregate
nominal value the Bonds voting, voted in favour of the following decision:
1. to amend the undertaking set out in Clause 11.3.1(a) of the Terms and
Conditions for a period until 31 July 2021 in the following wording:
(a) the Equity Ratio of the Group is twenty five (25) per cent. or greater;
2. as of 1 August 2021 the wording of Clause 11.3.1(a) will automatically
be reinstated into its initial form and be considered as in the original Terms
and Conditions, i.e.:
(a) the Equity Ratio of the Group is thirty five (35) per cent. or greater.
Therefore, the required majority for adopting a decision by way of written
procedure was reached and the decision was adopted by the Bondholders.
In accordance with Clause 14.12 of the Terms and Conditions, the adopted
decision is binding to all Bondholders whether they participated in the voting,
voted against the request or refrained from voting.
For additional information, please contact:
Tarmo Karotam
Baltic Horizon Fund manager
E-mail [email protected]
(https://www.globenewswire.com/Tracker?data=3SY5wmvEyDU5aWahpQedlhCOpj79Tz2KmkOw
Iq9f2K9AyY5GasYwZs5J-PhpW383zy1vkGyS0LCMfImuD5x5XbH95nAQQRv5vcrMFjn44jw=)
(https://www.globenewswire.com/Tracker?data=iLs9TYGnMlZhrZLOrGggC15sFczbbaWyVEaH
V1jTRboZiutXl4FgoJxr_9rvcdVATIrkBElEHX2-bN3IO5y6Zg==)www.baltichorizon.com
(http://www.baltichorizon.com)
(https://www.globenewswire.com/Tracker?data=cZAKnbmA1vfQ_J7jZFpqnmg0RTrp86wqeC15
aHzFs3YTzfLlVgziHg7Yi3vUZHvdws33Adh6vKRgSA6WnOsbbl2WSZILQnHjpiPXNGdQHwY=)
Baltic Horizon Fund is a registered contractual public closed-end real estate
fund managed by Alternative Investment Fund Manager license holder Northern
Horizon Capital AS.
Distribution: Nasdaq Tallinn, Nasdaq Stockholm, GlobeNewswire,
www.baltichorizon.com