NB Distressed Debt Invest. Fd. Ltd Capital Distributions (3327W)
17 Abril 2023 - 1:00AM
UK Regulatory
TIDMNBDD TIDMNBDX TIDMNBDG
RNS Number : 3327W
NB Distressed Debt Invest. Fd. Ltd
17 April 2023
17 April 2023
NB Distressed Debt Investment Fund Limited
Capital Distributions of $8.15 million for NBDX
and GBP2.17 million for NBDG Shares
The Board of NB Distressed Debt Investment Fund Limited (the
"Company") is pleased to announce $8.15 million in further capital
distributions for the Extended Life ("NBDX") and GBP2.17 million
for the New Global ("NBDG") Share Classes.
The distributions announced today result from the successful
finalisation of the Buffalo Thunder notes restructuring which
generated cash proceeds that are available for distribution.
NBDX
The Company has resolved to make a capital distribution
totalling (before expenses) $8.15 million to NBDX shareholders
(equivalent to approximately $0.1356 per NBDX share) by way of a
compulsory partial redemption of NBDX shares at a price equal to
$0.9602 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) GBP2.17 million to NBDG shareholders
(equivalent to approximately GBP0.0698 per NBDG share) by way of a
compulsory partial redemption of NBDG shares at a price equal to
GBP0.6762 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 2 May 2023 (the "Redemption Date"), being the record date for
the Redemptions. Approximately 14.12 per cent. of the NBDX issued
share capital and approximately 10.32 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
17 May 2023. Any certificates currently in circulation will be
superseded by a new certificate which will be distributed to
shareholders by 16 May 2023.
The Company currently has 15,382,770 NBDD, 60,116,016 NBDX and
31,023,609 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 GG00BQWN6441 for the NBDX shares and
GG00BQWN6334 for the NBDG shares (the "Old ISINs") will expire. The
new ISIN GG00BNTXRC15 for the NBDX shares and GG00BNTXRB08 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 on 3 May 2023. 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 14 June 2023
LEI: YRFO7WKOU3V511VFX790
For further information, please contact:
KL Communications +44 (0) 20 3603 2803
Charles Gorman nbdd@kl-communications.com
Jefferies International Limited +44 (0)20 7029 8000
Gaudi Le Roux gleroux@jefferies.com
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