Results of Class Meeting and Conversion Elections

RNS Number : 8107B

NB Distressed Debt Invest. Fd. Ltd

08 April 2013

 

8 April 2013

 

NB Distressed Debt Investment Fund Limited

(the “Company”)

 

Results of Class Meeting and Conversion Elections

 

 

The Company is pleased to announce that the resolution proposed at the Class Meeting held today was approved by Ordinary Shareholders by a majority of 284,746,804 shares (99.8%) to 553,308 (0.2%).

 

In addition, the Company announces that it received a total of 320,109,841conversion elections from Ordinary Shareholders to convert to Extended Life Shares, representing 72.1% of the issued share capital. Following Admission the Company will have 124,160,471 Ordinary Shares and 320,109,841 Extended Life Shares in issue.

 

Application has been made to the London Stock Exchange and the CISX for the Extended Life Shares to be admitted to trading on the Specialist Fund Market of the London Stock Exchange and trading on the Official List of the CISX and Admission is expected on 9 April 2013.

 

The Extended Life Shares will trade under the code “NBDX” and the Ordinary shares will continue to trade under the code “NBDD”.

 

Robin Monro-Davies, Chairman of the Company, commented:

 

“We are extremely pleased with the support for the proposals from both those shareholders electing to convert and those electing to remain in the existing share class. The Investment Manager has built a strong portfolio of distressed debt investments that we expect to generate attractive returns for shareholders and the high level of conversion elections demonstrates investors’continued support for the Company and the investment strategy.”

 

 

For further information, please contact:

  

Neuberger Berman Europe Limited Damian Holland Anji Stewart	[phone]
Oriel Securities Limited Joe Winkley Neil Langford	[phone]

 

 

 

END

 

 

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