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RNS

Conversion of C Shares

Released 10:47 04-Jul-2013

RNS Number : 6101I
NB Global Floating Rate Income Fund
04 July 2013
 



NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO

U.S. PERSONS OR INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

 

4 July 2013

 

NB Global Floating Rate Income Fund Limited (the "Company")

 

Conversion of C Shares

 

Further to its announcement dated 28 June 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 28 June 2013, were $0.9859 per Dollar ordinary share, £0.9795 per Sterling ordinary share, and £0.9714 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 19 February 2013 (the "Prospectus"), is 0.99167089 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 991 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 C Share register closes

12 July 2013

Conversion time and dealings in New Shares commence

15 July 2013

Crediting of CREST accounts with New Shares

15 July 2013

Share Certificates in respect of New Shares despatched

Week commencing 22 July 2013

 

 

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 targets an annualised yield per share in the region of 5% (net of fees and expenses) whilst preserving the capital value of the investment portfolio. 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
 
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Conversion of C Shares - RNS