NB Distressed Debt Invest. Fd. Ltd Capital Distribution (7586E)
March 03 2020 - 2:00AM
UK Regulatory
TIDMNBDD TIDMNBDX TIDMNBDG
RNS Number : 7586E
NB Distressed Debt Invest. Fd. Ltd
03 March 2020
3 March 2020
NB Distressed Debt Investment Fund Limited
Capital Distribution of US$5.0 million for NBDX Shares
The Board of NB Distressed Debt Investment Fund Limited (the
"Company") is pleased to announce US$5.0 million in further capital
distributions for the Extended Life ("NBDX") Share Class.
Details of the Q4 2019 portfolio performance for each share
class has been provided in the quarterly factsheets, published on 4
February 2020.
The Company has resolved to make a capital distribution
totalling (before expenses) US$5 million to NBDX shareholders
(equivalent to approximately $0.0438 per NBDX share) by way of a
compulsory partial redemption of NBDX shares at a price equal to
$0.9176 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 19 March 2020 (the "Redemption Date"),
being the record date for the Redemption. Approximately 4.78 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
31 March 2020. Any certificates currently in circulation will be
superseded by a new certificate which will be distributed to
shareholders by 31 March 2020.
The Company, as at 2 March 2020, which is the latest practical
date prior to the announcement has 15,382,770 NBDD, 113,931,794
NBDX and 71,512,915 NBDG shares in issue. All 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 for the GG00BKP4Y710 NBDX shares (the "Old
ISIN") will expire. The new ISIN GG00BKVDG878 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
19 March 2020. 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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