Estonia: Baltic Horizon planning buy-back program

• Published date: 17 May 2022
• Publication title: LETA

TALLINN, May 17, BNS - Fund manager Northern Horizon Capital AS is to propose that a general meeting of unitholders resolve to establish a buy-back program of Baltic Horizon Fund.

The purpose of the re-purchase program is to strengthen the capital structure of Baltic Horizon Fund by purchasing units at the price lower than the net asset value (NAV) of the unit at the time, Baltic Horizon told the stock exchange.

Re-purchases are made at the price level lower than NAV of Baltic Horizon Fund unit at the time. A maximum of 10,000,000 units may be repurchased during the period of 36 months starting from June 30, 2022 for the maximum amount of 10,000,000 euros.

The aggregate number of units purchased and held by Baltic Horizon Fund shall not exceed 10 percent of the total number of fund units at any time. Payment for the units shall be made in cash.

The units held by...