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
Dividends
Unique data record identifier
8765
Submission date and time
29.04.2021 19:30:00
Content of announcement in Estonian
Title
Baltic Horizon Fund teeb investoritele väljamakse summas ligikaudu 1,32 miljonit eurot
Message
Northern Horizon Capital AS kui Baltic Horizon fondi (Fond) fondivalitseja võttis vastu otsuse teha osakuomanikele rahaline väljamakse ligikaudu 0.96% ulatuses Fondi 2021.a. esimese kvartali kaalutud keskmisest puhasväärtusest. Väljamakse suurus kokku on ligikaudu 1,32 miljonit eurot, mis ühe osaku kohta on 0,011 eurot. Väljamakse viimase 12 kuu jooksev tootlus on 5.4%, mis põhineb Tallinna börsil oleva osaku esimese kvartali viimase päeva sulgemishinnal. 2021. aasta I kvartalis genereeris Fond tehingutest auditeerimata genereeritud netorahavoogu 2,03 miljonit eurot. Turul valitseva ebakindluse tõttu vähendatud väljamaksega 1,32 miljonit eurot, otsustas Fond säilitada 0,71 miljonit eurot jaotatavat rahavoogu. Viimase nelja kvartali jooksul on Fond suurendanud väljamaksete reservi 5,07 miljoni euroni. Fondi juhatus otsustas säilitada jaotussumma stabiilsena, et väljamakse suhe oleks kooskõlas varasema, COVID-19 pandeemia esimese laine jooksul tehtud väljamaksega aastal 2020. Fondivalitseja usub, et väljamakse summa vähendamine on kõigi osakuomanike ja seotud osapoolte huvides. Vähenenud väljamakse jaotamine parandab Fondi likviidsust, mis peaks pakkuma täiendavat suutlikkust majanduse stabiliseerumisel turul erinevaid võimalusi kasutada. Fond on viimase 12 kuu renditulust kokku teinud väljamakseid 7,45 miljoni euro eest (1,70 miljonit eurot II kvartalist, 3,11 miljonit eurot III kvartalist ja 1,32 miljonit eurot 2020.a. neljandast kvartalist ning 1,32 miljonit eurot 2021.a. esimesest kvartalist). Väljamaksed Fondi arvelt tehakse 18. mail 2021.a. Ex-kuupäev on 13. mai 2021. Väljamakseid on õigus saada osakuomanikel, kes on registrisse kantud kui osakuomanikud 14. mai 2021.a. T2S arveldussüsteemi tööpäeva lõpu seisuga (Fikseerimispäev). Lisainformatsiooni saamiseks palume kontakteeruda: Tarmo Karotam Baltic Horizon Fond, fondijuht E-mail [email protected] www.baltichorizon.com (https://www.globenewswire.com/Tracker?data=b3m46blAgVW1c08stUiNJ6CEYuP0f4V4PfDu NZbSU1_VmtWCOFJIkx0_tYXdUGjpErQuPjdm4rBdC5mah0zM_wQU6OWhvnZOiWzS8cve8OWVnv- MTBmLUZDbHTI_I4vau1o5ofaZkXgSJzHWK3Jtss377E3Tn_uMLH4R-P4dvAAZq2ADpfaCEoFHM4zuO- iTRaIQ3AhaHdrgEoLjfz0jcNg2W7xusrIxfdoWjUBehcPlC8X2- 9Ob70PmHAy4rsfHWloIbBR3qYSup_nAfCfqig==) 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 (https://www.globenewswire.com/Tracker?data=b3m46blAgVW1c08stUiNJ6CEYuP0f4V4PfDu NZbSU19TpeQ2pn6- 7wvrn7oUSeA8K9EdxhZu1qHQTTrFcIO6CoDqUWpdYNpYZGfAW3Ej7mqoMTdjZX8lJ6TsqDDfpCmvZfl- q8UzYJgP0O3nYOqPPnJ2Mr9HQAZCSjzFnJtwERG3YFlx3RCv9rKccS5D8lNpkfYeGtgDu_9YNd2MnoF2 K1aNCTl3GPo5bDTWVdhmdddsUiHGxsJStEZg69Xaint06vFIGPdF6Xdq_RsRYsbZVw==) Käesolev teade sisaldab informatsiooni, mille Fondivalitseja on kohustatud avaldama Euroopa Liidu turukurvitarvituse määruse kohaselt. Informatsioon esitati avaldamiseks 29.04.2021 kell 18:30 Eesti aja järgi ülalmainitud avaldamiskanalite esindajatele.
Content of announcement in English
Title
Baltic Horizon Fund declares quarterly cash distribution of approx. EUR 1.32 million to investors
Message
Northern Horizon Capital AS as the management company of Baltic Horizon Fund (the Fund) has approved a cash distribution of approx. 0.96% of the Fund's Q1 2021 weighted average net asset value to its unitholders. This equals approx. EUR 1.32 million in total and EUR 0.011 per unit. The pay-out also represents a 5.4% rolling distribution yield for the past 12 months based on the closing unit price of the last day of Q1 2021 on the Nasdaq Tallinn stock exchange. In Q1 2021, the Fund generated an unaudited Generated Net Cash Flow (GNCF) from operations of approx. EUR 2.03 million. With a reduced payout of EUR 1.32 million in light of prevailing market uncertainty, the Fund has opted to retain EUR 0.71 million of distributable cash flow. Over the past four quarters, the Fund has increased its dividend reserve to EUR 5.07 million. The Fund's Management Board decided to maintain a stable distribution amount to keep pay-out ratio in line with distribution levels during the first wave of the COVID-19 pandemic in 2020. The management company believes that it is in the best interest of all unitholders and other stakeholders to reduce cash distribution during the second wave of the COVID-19 pandemic. The reduced cash distribution will improve the Fund's liquidity which should offer additional capability to seize opportunities in the market when the economy stabilizes. In total, the Fund has paid out EUR 7.45 million from the operating results of the last twelve months (EUR 1.70 million from Q2 2020, EUR 3.11 million from Q3 2020, EUR 1.32 million from Q4 2020 and EUR 1.32 million from Q1 2021). Payments will be distributed from the Fund on 18 May 2021. The ex-date is on 13 May 2021. Unitholders entitled to receive distributions will be determined according to a unitholders list as of 14 May 2021 end of the business day in T2S settlement system (Record date). For additional information please contact: Tarmo Karotam Baltic Horizon Fund manager E-mail [email protected] (https://www.globenewswire.com/Tracker?data=AlWmqb- vS8wwTu7sVX9kB9wyRefK_1bM1fBVupeSItdrWnwG8aESPNPlQsMM70fYBFWunfiyDaUZFDMQWp5n20- EwkSXgSV-JCdxqO7eo5Q=) www.baltichorizon.com (https://www.globenewswire.com/Tracker?data=1jegeeeOqfAgyyV8B56w6trwSwgVQnQDdvJN 0zZBKv0TUNzwEVUM5aDSFdipkiXlN4cI8xj_bQGi2UGnLuWal2PSMy4hEjo8ciW9xO__hQE=) 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 (https://www.globenewswire.com/Tracker?data=1jegeeeOqfAgyyV8B56w6trwSwgVQnQDdvJN 0zZBKv0TUNzwEVUM5aDSFdipkiXlN4cI8xj_bQGi2UGnLuWal2PSMy4hEjo8ciW9xO__hQE=) This announcement contains information that the Management Company is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above distributors, at 18:30 EET on the 29th of April 2021.