Published: 2019-02-06 14:27:00 CET
UPP Olaines
Quarterly report

UPP Olaines OÜ 4th quarter 2018 unaudited financial results

Listing of UPP Olaines OÜ bonds on Nasdaq Tallinn bond list

Nasdaq (NDAQ) announced in November 29, 2018 that the bonds of UPP Olaines OÜ were listed on Nasdaq Tallinn bond list. The listing follows a non-public offering of the bonds to Baltic institutional investors and high-net-worth individuals.

“United Partners, the owner of UPP Olaines, entered the public market a year ago by listing bonds on First North market. It’s great to witness that they’ve seen the value in bringing their securities to the public market and are now listing their bonds on the regulated market, meaning the Baltic Bond List“ said Kaarel Ots, the CEO of Nasdaq Tallinn.

“We’re happy that through offering UPP Olaines bonds we’ve been able to provide investors an investment instrument with a decent yield, especially taking into account the low-interest rate environment we’re in today,” said Siim Sild, Director of United Partners.

Maintenance of property

Asphalt repairing works at the ramps and truck parking areas were finished by the end of 2018. Deformed parking area street light pole was refurbished. UPP Olaines OÜ team has created a list of the findings from technical audit which was conducted by Cityservice in the 3rd quarter of 2018. The list includes the regular technical maintenance works and regulates the lessor’s and tenants' obligations in commencing the maintenance works. The list has been sent to the tenants as of December 2018. A meeting between UPP Olaines OÜ and the tenants will be held in February, 2019, where the parties will discuss further the procedure and timeline regarding commencing the maintenance works. Majority of the deficiencies discovered are caused by a small impact with a truck or a forklift and are easily repairable. In general, the premises are in good technical condition and we are continuing regular maintenance works to uphold the high standards.

Operations

No other significant events occurred in Q4 2018 and all regular operations of the premise are running smoothly, including duly and timely collection of rental and utilities payments from the tenants.

As of the end of Q4 2018, there is no vacancy in the premises.

Investor desk service

Silver Kalmus is the new person responsible for the investor desk service at United Partners Advisory OÜ (subsidiary of the United Partners Group OÜ, the ultimate parent company of UPP Olaines OÜ). Investor desk was established in 2017 with the aim to further improve investor relations. Silver can be contacted on all matters regarding UPP Olaines OÜ. Silver Kalmus +372 56206 450, Investor Relations.

Siim Sild

Direktor

+372 5626 0107

siim.sild@unitedpartners.ee

 


UPP Olaines OÜ Q4 2018 Interim Report ENG.pdf