NB Distressed Debt Invest. Fd. Ltd Capital Distribution (1592W)
17 Agosto 2015 - 1:00AM
UK Regulatory
TIDMNBDD TIDMNBDX TIDMNBDG
RNS Number : 1592W
NB Distressed Debt Invest. Fd. Ltd
17 August 2015
17 August 2015
NB Distressed Debt Investment Fund Limited
Capital Distribution of $7 million for NBDD share class and
$17.5 million for NBDX share class
The Board of NB Distressed Debt Investment Fund Limited (the
"Company") is pleased to announce a further capital distribution
for both the Ordinary Share Class ("NBDD") and the Extended Life
Share Class ("NBDX").
The Company has resolved to return a total (before expenses) of
$7 million to NBDD shareholders (equivalent to approximately
$0.1143 per NBDD share) by way of a compulsory partial redemption
of NBDD shares at a price equal to $1.2276 per NBDD share (being
the last published NAV per NBDD share prior to this announcement).
The amount applied to the partial redemption of NBDD shares will be
after the deduction of costs and expenses of this partial
redemption, expected to be approximately $8,000.
The Company has further resolved to return a total (before
expenses) of $17.5 million to NBDX shareholders (equivalent to
approximately $0.0547 per NBDX share) by way of a compulsory
partial redemption of NBDX shares at a price equal to $1.1302 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.
The redemption of both the NBDD and NBDX shares (the
"Redemptions") will be effected pro rata to holdings of NBDD and
NDBX shares on the NBDD and NBDX registers at the close of business
on 27 August 2015 (the "Redemption Date"), being the record date
for the Redemptions. Approximately 9.31 per cent. of the NBDD
issued share capital and approximately 4.83 per cent. of the NBDX
issued share capital will be redeemed on the Redemption Date.
Fractions of shares produced by the NBDD Redemption Ratio or 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
11 September 2015. 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 61,146,214 NBDD and 319,888,967 NBDX
shares in issue. All of the NBDD and 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 GG00BX1BBW13 for the NBDD shares and
GG00BX1BC515 for the NBDX shares (the "Old ISINs") will expire. The
new ISIN number GG00BYRKJ926 for the NBDD shares and GG00BYRKJM58
for the NBDX shares (the "New ISINs") in respect of the remaining
shares which have not been redeemed will be enabled and available
for transactions after 27 August 2015. 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.
For further information, please contact:
Neustria Partners
Nick Henderson
Robert Bailhache
Charles Gorman +44 (0)20 3021 2580
Stifel Nicolaus Europe Limited
Neil Winward
Mark Bloomfield
Gaudi Le Roux +44 (0)20 7710 7600
Winterflood Investment Trusts
Joe Winkley
Neil Langford +44 (0)20 3100 0000
This information is provided by RNS
The company news service from the London Stock Exchange
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