NB Distressed Debt Invest. Fd. Ltd Close period buy-back programme (7542R)
30 Giugno 2015 - 7:05PM
UK Regulatory
TIDMNBDD TIDMNBDX TIDMNBDG
RNS Number : 7542R
NB Distressed Debt Invest. Fd. Ltd
30 June 2015
30 June 2015
NB Distressed Debt Investment Fund Limited
(the "Company")
Close period buy-back programme
Effective from 1 July 2015, the Company will enter into a close
period in respect of the publication of its interim results for the
six month period ended 30 June 2015. The Company announces that
effective from 1 July 2015, it will enter into an irrevocable and
non-discretionary arrangement with its broker, Stifel Nicolaus
Europe Limited ("Stifel"), to repurchase shares on its behalf (the
"Programme"). The Programme will pertain to both the New Global
ordinary share class ("New Global Shares") and the Extended Life
ordinary share class (the "Extended Life Shares") (together the
"Shares"). The Shares will be cancelled in the case of the Extended
Life Shares or held in Treasury in the case of the New Global
Shares. The Programme will commence on 1 July 2015 and continue
until the publication of the Company's interim results for the half
year ended 30 June 2015.
Pursuant to and during the term of the Programme, Stifel may
independently of, and without influence by the Company, purchase
Shares from time to time at its absolute discretion provided
that:
-- the maximum price (exclusive of expenses) which may be paid
for a Share is not more than an amount equal to the higher of (i)
five per cent. above the average of the mid-market value of the
Shares of the relevant class on the regulated market where the
purchase is made for the five business days before the day the
purchase is made and (ii) the higher of (a) the price of the last
independent trade and (b) the highest independent bid for the
Shares of the relevant class, on the regulated market when the
purchase is made; and
-- the aggregate number of Shares which may be acquired on
behalf of the Company (excluding any Shares already repurchased by
the Company prior to the date of this announcement) shall not
exceed 16,056,789 New Global Shares and 47,976,306 Extended Life
Shares up until the Company's next AGM (representing 14.49 per
cent. and 14.98 per cent. of the New Global Share class' and the
Extended Life Share class' issued share capital at the date of this
announcement respectively). This is in accordance with the
Company's general buyback authority as approved at the Company's
AGM on 4 June 2015 which permits market acquisitions of the Shares
subject to the maximum number of Shares acquired not exceeding
14.99 per cent. of the aggregate number of Shares of such class in
issue at the date the resolution was passed.
The Company confirms it currently has no unpublished price
sensitive information.
Due to the limited liquidity in the Shares, a buy-back of Shares
pursuant to the Programme on any trading day is likely to represent
a significant proportion of the daily trading volume in the Shares
(and may materially exceed the 25% and 50% limits of the average
daily trading volume, limits as referred to in the Commission
Regulation (EC) No. 2273/2003 on buy-back programmes).
The Company will continue to make a public announcement of any
market repurchase of Shares on the business day following the
calendar day on which the repurchase occurred.
Enquiries:
Carey Group
Claire McSwiggan
01481 737281
This information is provided by RNS
The company news service from the London Stock Exchange
END
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