NB Global Monthly Income Fund Ltd Return of Capital (0651R)
27 2월 2023 - 4:00PM
UK Regulatory
TIDMNBMI
RNS Number : 0651R
NB Global Monthly Income Fund Ltd
27 February 2023
27 February 2023
NB GLOBAL MONTHLY INCOME FUND LIMITED
(the "Company")
(LSE: NBMI, LEI: 549300P4FSBHZFALLG04)
Return of Capital by a Partial Compulsory Redemption of
Shares
The Company (Legal Entity Identifier: 549300P4FSBHZFALLG04)
advises that it intends to distribute to Shareholders an aggregate
amount of GBP35 million (the "Distribution") by way of a partial
compulsory redemption of Shares in the capital of the Company (the
"Compulsory Redemption") on 13 March 2023 (the "Compulsory
Redemption Date").
Pursuant to the Compulsory Redemption, the Company will redeem
19.49% of existing Shares of Shareholders on the register of
members as at close of business on 13 March 2023 (the "Redemption
Record Date"). The Redemption will be effected at 81.00 pence per
Share (the "Compulsory Redemption Price"), which is equal to the
Company's net asset value per share on 23 February 2023. No
fractions of Shares will be redeemed and the number of Shares to be
redeemed for each Shareholder will be rounded down to the nearest
whole number of Shares, as appropriate. Any Shares which have
traded on or before the Redemption Record Date, but have not
settled, will be included in the Redemption.
Background
Following the passing of the Shareholder resolutions tabled at
the Company's Extraordinary General Meeting held on 27 January
2023, the Company's investment objective is to realise all existing
assets in the Company's portfolio in an orderly manner. The Company
is pursuing its investment objective by effecting an orderly
realisation of its assets and making timely returns of capital to
Shareholders, by way of several capital distributions. Any cash
received by the Company as part of the realisation process, but
prior to its distribution to Shareholders, will be held by the
Company as cash on deposit and/or as cash equivalents. The table
below provides an overview of the Company's portfolio composition
as of 23 February 2023, including applicable asset rating, time to
maturity and the approximate percentage of total portfolio market
value that each asset comprises [1] :
Asset Class Breakdown as of 23 February 2023 [2] :
The following table further shows a percentage breakdown of the
market value as of 23 February 2023 of the Company's portfolio by
currency, including a pro forma overview assuming the Distribution
is made from existing cash balances on 23 February 2023 [3] :
Terms of the Redemption
It is estimated that all proceeds of the Redemption will be
effected either through CREST (in the case of Shares held in
uncertificated form) or paid by cheque (in the case of Shares held
in certificated form) in pounds Sterling within fourteen business
days of the Compulsory Redemption Date, or as soon as practicable
thereafter (the "Redemption Payment Date"). The amount to be
applied in the partial redemption of Shares comprises monies from
the Company's existing cash balances.
The existing Shares will be disabled in CREST after close of
business on the Redemption Record Date and the existing ISIN number
GG00B3KX4Q34 (the "Old ISIN") will be disabled.
A new ISIN number GG00BP0XL116 (the "New ISIN"), in respect of
the remaining Shares which have not been redeemed, will be enabled
and available for transactions on 14 March 2023 . CREST will
automatically transform any open transactions as at the Redemption
Date into the New ISIN.
Shareholders should note that the Board retains absolute
discretion as to the execution, extent and timing of any further
returns of capital.
All Shares that are redeemed will be cancelled with effect from
the Compulsory Redemption Date. Accordingly, once redeemed, Shares
will be incapable of transfer.
Expected timetable:
Compulsory Redemption Record 13 March 2023
Date
Compulsory Redemption Date 13 March 2023
--------------
Ex-Date 14 March 2023
--------------
Date that the New ISIN is 14 March 2023
enabled
--------------
Estimated latest date for 31 March 2023
the Redemption Payment Date
--------------
For further information, please contact:
Neuberger Berman Europe Limited (Manager)
Elizabeth Papadopoulos +44 (0) 20 3214 9078
Numis Securities Limited (Broker)
Hugh Jonathan
Matt Goss +44 (0) 20 7260 1000
KL Communications (PR)
Charles Gorman +44 (0) 20 7995 6673
Sanne Fund Services (Guernsey) Limited
(Company Secretary)
Matt Falla
Gemma Woods +44 (0) 1481 737 600
[1] Excludes cash, FX and equity positions.
[2] Excludes cash, FX and equity positions.
[3] Excludes equity positions.
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