Conversion of Securities - C Shares

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, £0.9924 per Sterling ordinary share, and £0.9819 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 C Share register closes	17 January 2014
Conversion time and dealings in New Shares commence	21 January 2014
Crediting of CREST accounts with New Shares	21 January 2014
Share Certificates in respect of New Shares despatched	Week commencing 27 January 2014

For further information, please contact:

BNP Paribas Securities Services S.C.A., Guernsey Branch

Sara Bourne

[phone]

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

 

END

 

 

CONQQLFBZFFEBBX