Baltic Horizon: Notice on public offering of Swedish Depository Receipts of Baltic Horizon Fund in Sweden

Baltic Horizon FundNorthern Horizon Capital AS hereby announces the offering of up to 119,635,429 of Baltic Horizon Fund’s („Fund“) Swedish Depository Receipts (the “SDR”) in Sweden (the „SDR Offering“). Northern Horizon Capital has appointed Nordic Issuing AB (“Nordic Issuing”), a Swedish licenced investment firm, as the issuer of SDRs. The SDR Offering is conducted on the basis of the prospectus approved by the Swedish Financial Supervisory Authority (the „Swedish FSA“) on 30 September 2022, which has been published on the date of this notice on the website of Baltic Horizon Fund (https://www.baltichorizon.com/conversion-of-swedish-traded-baltic-horizon-fund-units-into-sdrs/) and will be published on the website of the Swedish FSA (https://www.fi.se/en/) („Prospectus“). The SDR Offering is carried out only in Sweden and not in any other jurisdiction. The SDR Offering is directed to the unitholders holding the units of Baltic Horizon Fund (the „Units“) trading on Nasdaq Stockholm (the „Swedish Investors“).

The reason for the SDR Offering is to enable the Swedish Investors to convert respective Units into the SDRs. The aforementioned is a response to Euroclear Sweden AB’s decision to terminate the affiliation agreement with the Fund for keeping Units registered with its book entry system in Sweden that is taking place due to a strategic decision by Nordea Bank Abp to exit its Nordic sub-custody business. Since the issue of the SDRs are made through conversion of Units only, there will be no new proceeds for the Baltic Horizon Fund to utilise by way of this SDR issue.

Northern Horizon Capital AS plans to list the SDRs on Nasdaq Stockholm.

OVERVIEW OF THE KEY TERMS OF THE SDR OFFERING

The offer period, during which it is possible to submit conversion order for converting Units into SDRs, commences at 10:00 CEST on 3 October 2022 and ends at 12:00 CEST on 17 October 2022. Northern Horizon Capital AS has a right to prolong the offer period before the end of the SDR offer period up until 28 October 2022 by announcing new timetable on Fund’s website and through stock exchange announcement.
In order to submit conversion order, the Swedish Investor should contact Nordic Issuing and register a transaction instruction for the conversion of Units into SDRs in the form set out by Nordic Issuing.
Each one (1) Unit gives the Swedish Investor a right to convert it into one (1) SDR.
This announcement is not a prospectus. For a more detailed overview of Baltic Horizon Fund and terms of the offering, please refer to the Prospectus.

KEY DATES

The timetable below lists key dates related to the offering:

3 October 2022 Commencement of the SDRs offer period
13 October 2022 Last day of trading the Units on Nasdaq Stockholm
17 October 2022 End of the SDR offer period
17 October 2022 De-listing of the Units on Nasdaq Stockholm
19 October 2022 Settlement date and delivery of the SDRs to the Swedish Investors
19 October 2022 First day of trading SDRs on Nasdaq Stockholm

CONSEQUENCES OF NOT PARTICIPATING IN THE CONVERSION

If a Swedish Investor remains passive and does not instruct the Units to be converted into the SDRs during the SDR Offering period, or alternatively to be transferred to Nasdaq CSD (Estonia) prior to 4 November 2022, Euroclear Sweden will appoint a sales agent to sell such Units and pay out the proceeds (less sales costs and any applicable taxes) to the cash account connected with the respective Swedish Investor’s securities account.

If a Swedish Investor has already transferred its Units to Nasdaq CSD (Estonia) but wishes to participate in the SDR structure then please contact your account operator for the purposes of exploring the possibility of re-transferring the Units back to Nasdaq Stockholm and converting them into the SDRs.

Kas soovid värsket kinnisvarainfot meilile?

Sisesta e-posti aadress ja ole kursis kinnisvaraturu liikumistega!

Kinnisvarakoolis järgmisena:

17.-19.01.2023 Kinnisvara ABC