8 November 2024
NB Distressed Debt Investment
Fund Limited
(the
"Company")
Capital Distributions of $5.5
million for NBDX Shares and £1.5 million for NBDG
Shares
The Board of NB Distressed Debt
Investment Fund Limited (the "Company") is pleased to announce a
$5.5 million capital distribution for the Extended Life ("NBDX")
Share Class and £1.5 million capital distribution for the Global
("NBDG") Share Class.
NBDX
The Company has resolved to make a
capital distribution totalling (before expenses) $5.5 million to
NBDX shareholders (equivalent to approximately $0.1243 per NBDX
share) by way of a compulsory partial redemption of NBDX shares at
a price equal to $0.9980 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) £1.5 million to
NBDG shareholders (equivalent to approximately £0.0539 per NBDG
share) by way of a compulsory partial redemption of NBDG shares at
a price equal to £0.5535 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 £6,500.
Shareholder information
The redemption of the NBDX and NBDG
shares (the "Redemption") will be effected pro rata to holdings of
NBDX and NBDG shares respectively on the register at the close of
business on 26 November 2024 (the "Redemption Date"), being the
record date for the Redemptions. Approximately 12.44 per cent of
the NBDX and 9.70% of the NBDG 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 10 December 2024. Any certificates
currently in circulation will be superseded by a new certificate
which will be distributed to shareholders by 10 December
2024.
The Company has 44,234,790 NBDX
shares and 27,821,698 NBDG shares in issue as at 8 November 2024.
All of the NBDX and 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 numbers,
GG00BR88RQ95 for the NBDX
shares and GG00BNTXRB08 for the NBDG shares (the "old ISINs") will
expire. The new ISINs will be released shortly.
The new ISINs for the NBDX and NBDG
shares (the "new ISINs") in respect of the remaining shares which
have not been redeemed will be enabled and available for
transactions after 26 November 2024. For the period up to and
including the Redemption Date, shares will be traded under the old
ISIN's 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.
LEI: YRFO7WKOU3V511VFX790
For further information, please
contact:
Suntera (Guernsey) Limited
Company Secretary
Tel: +44 (0) 1481 700300
Email: NB.Distressed@suntera.com
U.S.
Bank Global Fund Services (Guernsey) Limited
Administrator
Tel: +44 (0) 1481 723450
Jefferies International Limited
Financial Adviser and Corporate
Broker
Tel: +44 (0)20 7029 8000
Neuberger Berman Europe Limited
Manager
Tel: +44 20 7355 7229
Neuberger Berman Investment Advisers LLC
Alternative Investment Fund
Manager
Tel: +1 (312) 325-7700
KL
Communications
Tel: +44 (0)20 3603 2803,
nbdd@kl-communications.com
NB
Distressed Debt Investment Fund Limited
The Company is a closed-ended
investment company incorporated and registered in Guernsey on 20
April 2010 with registration number 51774. The Company is governed
under the provisions of the Companies (Guernsey) Law, 2008 (as
amended) (the "Law"), and the Registered Collective Investment
Scheme Rules and Guidance 2021 issued by the Guernsey Financial
Services Commission ("GFSC"). It is a non-cellular company limited
by shares and has been declared by the GFSC to be a registered
closed-ended collective investment scheme. The Company trades on
the Specialist Fund Segment ("SFS") of the London Stock Exchange
("LSE"). The Company is a member of the Association of Investment
Companies (the "AIC") and is classified within the Debt - Loans
& Bonds Category