NB Global Floating Rate Income Fund Conversion of Securities - C Shares (0177X)
January 06 2014 - 11:54AM
UK Regulatory
TIDMNBLS TIDMNBCS TIDMNBLU
RNS Number : 0177X
NB Global Floating Rate Income Fund
06 January 2014
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, TO
U.S. PERSONS OR INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA
OR JAPAN.
6 January 2014
NB Global Floating Rate Income Fund Limited (the "Company")
Conversion of C Shares
Further to its announcement dated 6 December 2013, the Company
is pleased to announce the following information in relation to the
conversion of its C Shares.
Conversion Ratio for C Shares
The Net Asset Values attributable to the Ordinary Shares and the
C Shares as at the Calculation Time, being 31 December 2013, were
$1.0008 per Dollar ordinary share, GBP0.9924 per Sterling ordinary
share, and GBP0.9819 per Sterling C share. The Net Asset Values
have been calculated net of the dividend attributable to each class
of share.
The Conversion Ratio for conversion of the C Shares, as
calculated in accordance with the Company's prospectus dated 30
September 2013 (the "Prospectus"), is 0.98950222 Sterling Ordinary
Shares for every one Sterling C Share held.
On the basis of the Conversion Ratio, a holder of 1,000 Sterling
C Shares will receive 989 new Sterling Ordinary Shares upon
Conversion.
Entitlements will be rounded down to the nearest whole
share.
The Ordinary Shares arising on Conversion will rank pari passu
with, and will have the same rights as, the Ordinary Shares of the
Company already in issue.
Further details of the Conversion and rights attaching to the C
Shares are set out in the Prospectus. Terms defined in the
Prospectus have the same meaning in this announcement unless
otherwise defined.
The expected timetable for Conversion is as follows:
Record date for Conversion and 17 January 2014
C Share register closes
--------------------------------- --------------------------------
Conversion time and dealings in 21 January 2014
New Shares commence
--------------------------------- --------------------------------
Crediting of CREST accounts with 21 January 2014
New Shares
--------------------------------- --------------------------------
Share Certificates in respect Week commencing 27 January 2014
of New Shares despatched
--------------------------------- --------------------------------
For further information, please contact:
BNP Paribas Securities Services S.C.A., Guernsey Branch
Sara Bourne
+44 (0)1481 750858
www.nbgfrif.com
Background Information
The Company is a closed-ended investment company limited by
shares incorporated under the laws of Guernsey on 10 March 2011,
with registration number 53155. The Company's investment objective
is to provide its shareholders with regular dividends, at levels
that are sustainable whilst preserving the capital value of its
investment portfolio, utilising the investment skills of the
Investment Managers. The Company is managed by three experienced
portfolio managers backed by an experienced credit team of over 30
investment professionals.
The Company is managed by Neuberger Berman Europe Limited, an
indirect wholly-owned subsidiary of Neuberger Berman Group LLC. The
Investment Manager has delegated certain of its responsibilities
and functions to the sub-investment manager, Neuberger Berman Fixed
Income LLC, also an indirect wholly-owned subsidiary of Neuberger
Berman Group LLC. To find out more about the Company and Neuberger
Berman Group LLC, please visit www.nbgfrif.com.
This document has been prepared by NB Global Floating Rate
Income Fund Limited ("NBGFRIF") and is the sole responsibility of
NBGFRIF. This document is not intended to be an investment
advertisement or sales instrument and does not constitute an offer
or an attempt to solicit offers for any securities in NBGFRIF in
any jurisdiction. This document was prepared using the financial
information available to NBGFRIF prior to the date of this
announcement. This information is believed to be accurate but has
not been audited by a third party. NBGFRIF does not accept any
liability for actions taken on the basis of the information
provided herein. Prospective investors are advised to seek expert
legal, financial, tax and other professional advice before making
any investment decision.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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