Northern Horizon Capital AS as the management company of Baltic Horizon Fund (the Fund) has approved a cash distribution of approx. 1.63% of the Fund’s Q3 2021 weighted average net asset value to its unitholders. This equals approx. EUR 2.03 million in total and EUR 0.017 per unit.
In Q3 2021, the Fund generated an unaudited Generated Net Cash Flow (GNCF) from operations of approx. EUR 2.51 million (EUR 0.021 per unit). Cash flow from operations was approx. 14% higher compared to previous quarter. Due to improved results, the Fund’s Management Board decided to increase the distribution amount compared to last three quarters (EUR 0.011 per unit) and such distribution level equals to approx. 80% of the GNCF of Q3.
With the increased payout of EUR 2.03 million, the Fund has opted to retain EUR 0.48 million of distributable cash flow. The Fund’s total dividend reserve is EUR 6.43 million (EUR 0,054 per unit).
In total, the Fund has paid out EUR 5.99 million from the operating results of the last twelve months (EUR 1.32 million from Q4 2020, EUR 1.32 million from Q1 2021, EUR 1.32 million from Q2 2021 and EUR 2.03 million from Q3 2021).
Payments will be distributed from the Fund on 16 November 2021. The ex-date is on 11 November 2021. Unitholders entitled to receive distributions will be determined according to a unitholders list as of 12 November 2021 end of the business day in T2S settlement system (Record date).
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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.
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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 17:00 EET on the 28th of October 2021.