NB Distressed Debt Invest. Fd. Ltd Capital Distribution (6241I)
August 12 2019 - 2:00AM
UK Regulatory
TIDMNBDD TIDMNBDX TIDMNBDG
RNS Number : 6241I
NB Distressed Debt Invest. Fd. Ltd
12 August 2019
12 August 2019
NB Distressed Debt Investment Fund Limited
Capital Distributions of $5 million for NBDX
and GBP2.5 million for NBDG Shares
The Board of NB Distressed Debt Investment Fund Limited (the
"Company") is pleased to announce $5 million in further capital
distributions for the Extended Life ("NBDX") and GBP2.5 million for
the New Global ("NBDG") Share Classes.
Over the course of the past few months, the Company's
investments have generated cash in various ways: distributions from
private equity positions, repayment of principal on private debt,
dividends from equity positions and interest income from credit
investments. The cash from this portfolio activity continues to
fund distributions to shareholders.
Further details of Q2 2019 portfolio performance for each share
class will be provided in the quarterly factsheets, to be published
shortly.
NBDX
The Company has resolved to make a capital distribution
totalling (before expenses) $5 million to NBDX shareholders
(equivalent to approximately $0.0378 per NBDX share) by way of a
compulsory partial redemption of NBDX shares at a price equal to
$0.9213 per NBDX share (being the last published NAV per NBDX share
prior to this announcement). The amount applied to the partial
redemption of NBDX shares will be after the deduction of costs and
expenses of this partial redemption, expected to be approximately
$8,000.
NBDG
The Company has resolved to make a capital distribution
totalling (before expenses) GBP2.5 million to NBDG shareholders
(equivalent to approximately GBP0.0332 per NBDG share) by way of a
compulsory partial redemption of NBDG shares at a price equal to
GBP0.8800 per NBDG share (being the last published NAV per NBDG
share prior to this announcement). The amount applied to the
partial redemption of NBDG shares will be after the deduction of
costs and expenses of this partial redemption, expected to be
approximately GBP6,500.
Shareholder information
The redemption of both the NBDX and NBDG shares (the
"Redemptions") will be effected pro rata to holdings of NBDX and
NBDG shares on the NBDX and NBDG registers at the close of business
on 27 August 2019 (the "Redemption Date"), being the record date
for the Redemptions. Approximately 4.09 per cent. of the NBDX
issued share capital and approximately 3.77 per cent. of the NBDG
issued share capital will be redeemed on the Redemption Date.
Fractions of shares produced by the NBDX Redemption ratio or the
NBDG Redemption ratio will not be redeemed and so the number of
shares of the relevant class to be redeemed from each shareholder
will be rounded down to the nearest whole number of shares.
Payments of redemption monies are expected to be effected either
through CREST (in the case of shares held in uncertificated form)
or by cheque (in the case of shares held in certificated form) by
10 September 2019. It is requested that certificated shareholders
send all of their share certificates to the Company's Registrar.
Any share certificates for the balance of the holding will be
distributed to shareholders with their redemption monies.
The Company currently has 15,382,770 NBDD, 132,090,522 NBDX and
75,201,400 NBDG shares in issue.* All of the NBDX & NBDG shares
redeemed on the Redemption Date will be cancelled.
The shares will be disabled in CREST on the Redemption Date and
the existing ISIN number GG00BDFZ6C48 for the NBDX shares and
GG00BDFZ6D54 for the NBDG shares (the "Old ISINs") will expire. The
new ISIN GG00BFZ5JL85 for the NBDX shares and GG00BFZ5JM92 for the
NBDG shares (the "New ISINs") in respect of the remaining shares
which have not been redeemed will be enabled and available for
transactions after 28 August 2019. For the period up to and
including the Redemption Date, shares will be traded under the Old
ISINs and as such, a purchaser of such shares may have a market
claim for a proportion of the redemption proceeds following the
activation of the New ISINs. CREST will automatically transfer any
open transactions as at the Redemption Date to the New ISINs.
*As at 9 August 2019
LEI: YRFO7WKOU3V511VFX790
For further information, please contact:
KL Communications +44 (0)20 3603 2803
Charles Gorman nbdd@kl-communications.com
Stifel Nicolaus Europe Limited
Neil Winward
Mark Bloomfield
Gaudi Le Roux +44 (0)20 7710 7600
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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