Northern Horizon Capital AS as the management company of Baltic Horizon Fund (the Fund) has approved a cash distribution of EUR 0.026 per unit to its unitholders. The cash distribution will be made to all current unitholders and new unitholders who subscribe units in the offering of new Baltic Horizon Fund units between 8 October 2020 and 22 October 2020.
The cash distribution equals to approx. 2.14% of the Fund‘s Q3 2020 weighted average net asset value based on the total amount of currently outstanding Fund units. Depending on the results of the offering, cash distribution might increase up to 2.79% of the Fund‘s Q3 2020 weighted average net asset value. The pay-out also represents a 7.5% rolling distribution yield for the past 12 months based on the closing unit price of the last day of Q3 2020 on Nasdaq Tallinn stock exchange.
In Q3 2020, the Fund generated an unaudited Generated Net Cash Flow from operations of approx. EUR 2.68 million and EUR 0.024 per outstanding unit. In total, the Fund‘s distributions from the operating results of the last twelve months would be equal to EUR 9.53 million based on the currently outstanding Fund units (EUR 3.18 million from Q4 2019, EUR 1.70 million from Q1 2020, EUR 1.70 million from Q2 2020 and EUR 2.95 million from Q3 2020).
Payments will be distributed from the Fund on 6 November 2020. Unitholders entitled to receive distributions will be determined according to a unitholders list as of 4 November 2020 end of the business day in T2S settlement system (Record date).