According to the rules of Nasdaq Tallinn alternative market the company whose securities are traded on First North must inform about the transactions that are larger than 10% of its owners’ equity. OÜ Finora Capital had in May such transactions in total amount of 136 000 EUR.
New mortgage loans that are larger than the 10% threshold were issued in total value of 100 000 EUR and invoices for factoring were acquired for 15 000 EUR. These transactions will increase interest income of Finora Capital in the future. In total Finora Capital will receive from these transactions in next 13 years through loan repayments and interest payments 172 000 EUR, from which 20 000 EUR will be received in 2015.
In May company received early repayments of loans in the amount of 21 000 EUR. That can temporarily reduce the value of interest baring loan portfolio but will not have noticeable impact on total financial performance of the company.
Starting from June 1st, 2015 OÜ Finora Capital will be located at Pärnu mnt. 10, Tallinn.
OÜ Finora Capital is an Estonian capital based financing company that was launched in July 2014 when the company started with offering one product - mortgage backed loans - to its customers in Estonia. Its next products, hire-purchase for private customers and factoring for SMEs were introduced in the end of 2014 and in the beginning of 2015 respectively.
Andrus Alber
Phone: +372 658 1300
E-mail: andrus.alber@finoracapital.eu