NB Distressed Debt Invest. Fd. Ltd Capital Distribution (0352T)
November 12 2019 - 2:00AM
UK Regulatory
TIDMNBDD TIDMNBDX TIDMNBDG
RNS Number : 0352T
NB Distressed Debt Invest. Fd. Ltd
12 November 2019
12 November 2019
NB Distressed Debt Investment Fund Limited
Capital Distributions of $10.5 million for NBDX Shares
The Board of NB Distressed Debt Investment Fund Limited (the
"Company") is pleased to announce $10.5 million in further capital
distributions for the Extended Life ("NBDX") Share Class.
Details of the Q3 2019 portfolio performance for each share
class will be provided in the quarterly factsheets, to be published
shortly.
The Company has resolved to make a capital distribution
totalling (before expenses) $10.5 million to NBDX shareholders
(equivalent to approximately $0.0833 per NBDX share) by way of a
compulsory partial redemption of NBDX shares at a price equal to
$0.9155 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.
Shareholder information
The redemption of the NBDX shares (the "Redemption") will be
effected pro rata to holdings of NBDX shares on the NBDX register
at the close of business on 25 November 2019 (the "Redemption
Date"), being the record date for the Redemption. Approximately
9.10 per cent. of the NBDX issued share capital will be redeemed on
the Redemption Date. Fractions of shares produced by the NBDX
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 5
December 2019. Any certificates currently in circulation will be
superseded by a new certificate which will be distributed to
shareholders by 5 December 2019. Any share certificates for the
balance of the holding will be distributed to shareholders with
their redemption monies.
The Company, as at 11 November 2019, which is the latest
practical date prior to the announcement has 15,382,770 NBDD,
125,922,143 NBDX and 72,017,915 NBDG shares in issue. All of the
NBDX 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 GG00BFZ5JL85 for the NBDX shares (the "Old
ISIN") will expire. The new ISIN GG00BKP4Y710 for the NBDX shares
(the "New ISIN") in respect of the remaining shares which have not
been redeemed will be enabled and available for transactions after
25 November 2019. For the period up to and including the Redemption
Date, shares will be traded under the Old ISIN 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
ISIN. CREST will automatically transfer any open transactions as at
the Redemption Date to the New ISIN.
LEI: YRFO7WKOU3V511VFX790
For further information, please contact:
KL Communications +44 (0)20 3603 2803
Charles Gorman nbdd@kl-communications.com
Stifel Nicolaus Europe Limited
Mark Bloomfield +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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