Baltic Horizon Fund plans to establish a unit buyback program to repurchase a maximum of 5 million units for up to €5 million during the 12-month period commencing May 15.
The fund's management company will cancel the units within three months after the repurchase. Payment for the units will be made in cash.
The aggregate number of units acquired and held by Baltic Horizon Fund will not eclipse 10% of the fund's total number of units at any given time.
The buyback program aims to boost the capital structure of the company by acquiring the units at a lower price than the company's net asset value.