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Capital Distribution
RNS Number : 3891K
NB Distressed Debt Invest. Fd. Ltd
25 August 2023
 

25 August 2023

 

NB Distressed Debt Investment Fund Limited

(the "Company")

 

 

Capital Distributions of $3.7 million for NBDX Shares

 

 

Further to the announcement released on 21 August 2023, the Board of NB Distressed Debt Investment Fund Limited (the "Company") is pleased to announce a $3.7 million capital distribution for the Extended Life ("NBDX") Share Class.

 

NBDX

 

The Company has resolved to make a capital distribution totalling (before expenses) $3.7 million to NBDX shareholders (equivalent to approximately $0.0786 per NBDX share) by way of a compulsory partial redemption of NBDX shares at a price equal to $1.0314 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 respectively on the register at the close of business on 11 September 2023 (the "Redemption Date"), being the record date for the Redemptions. Approximately 7.60 per cent of the NBDX issued share capital will be redeemed on the Redemption Date. Fractions of shares produced by the 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 25 September 2023. Any certificates currently in circulation will be superseded by a new certificate which will be distributed to shareholders by 25 September 2023.

 

The Company has 47,875,446 NBDX shares in issue as at 25 August 2023. 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, GG00BRZRVJ00 for the NBDX shares (the "old ISIN") will expire. The new ISIN will be released shortly.

 

The new ISIN 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 12 September 2023. 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

Charles Gorman

 

+44 (0)20 3603 2803

[email protected]

Jefferies International Limited

Gaudi Le Roux

+44 (0)20 7029 8000

[email protected]

 

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