Capital Distribution

NB Distressed Debt Invest. Fd. Ltd

16 June 2023

 

16 June 2023

NB Distressed Debt Investment Fund Limited

Capital Distribution of $3.36 million for NBDX

The Board of NB Distressed Debt Investment Fund Limited (the "Company") is pleased to announce a $3.36 million capital distribution for the Extended Life ("NBDX) Share Class.

The distribution announced today results from the successful sale of the Mashantucket Pequot (Foxwoods) loan, which has generated cash proceeds that are available for distribution.

NBDX

The Company has resolved to make a capital distribution totalling (before expenses) $3.36 million to NBDX shareholders (equivalent to approximately $0.0651 per NBDX share) by way of a compulsory partial redemption of NBDX shares at a price equal to $0.8934 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.

Shareholder information

The redemption of the NBDX shares (the "Redemption") will be effected pro rata to holdings of NBDX shares on the NBDX register at the close of business on 29 June 2023 (the "Redemption Date"), being the record date for the Redemption. Approximately 7.26 per cent. of the NBDX issued share capital will be redeemed on the Redemption Date. Fractions of shares produced by the NBDX 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 13 July 2023. Any certificates currently in circulation will be superseded by a new certificate which will be distributed to shareholders by 12 July 2023.

As at 15 June 2023, the Company currently has 15,382,770 NBDD, 51,628,502 NBDX and 27,821,698 NBDG shares in issue. All of the NBDX shares redeemed on the Redemption Date will be cancelled.

The shares will be disabled in CREST on the Redemption Date and the existing ISIN number GG00BNTXRC15 for the NBDX shares (the "Old ISINs") will expire. The new ISIN GG00BRZRVJ00 for the NBDX shares (the "New ISINs") in respect of the remaining shares which have not been redeemed will be enabled and available for transactions on 30 June 2023. For the period up to and including the Redemption Date, shares will be traded under the Old ISINs 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:

KL Communications Charles Gorman	[phone] [e-mail]
Jefferies International Limited Gaudi Le Roux	[phone] [e-mail]

 

END