Conversion of Securities

RNS Number : 0290M

NB Global Floating Rate Income Fund

05 May 2020

 

5 May 2020

NB Global Floating Rate Income Fund Limited

(the "Company")

Conversion between Share Classes

The Company today announces the conversion of a number of Sterling Shares into US Dollar Shares and US Dollar Shares into Sterling Shares (the "Conversion"). On the basis of the net asset values of the Company's shares as at 30 April 2020 (and also spot currency exchange rates as appropriate, in each case as at 30 April 2020), the conversion ratio, calculated in accordance with the Company's articles of incorporation, is as follows:

GBP to USD  1.20826561

USD to GBP   0.82763259

On the basis of the aggregate level of conversion notices received by the Company, application will be made for the admission of 1,318,821 Sterling Shares and 1,772 US Dollar Shares to the Official List of the UK Listing Authority (the "Official List") and the main market for listed securities of the London Stock Exchange plc (the "Main Market"). Application will also be made for the cancellation of the listing on the Official List and the Main Market of 1,468 Sterling Shares and 1,593,488 US Dollar Shares. It is expected that such application will become effective and that dealing in the US Dollar Shares will commence on 13 May 2020. Accordingly, the Company's issued share capital with effect from 13 May 2020 will be as follows:

471,900,831 Sterling Shares (75,000,000 are held in Treasury as at 5 May 2020)

25,937,806 US Dollar Shares (1,342,627 are held in Treasury as at 5 May 2020)

Sterling Shares have 1.6 votes per share and US Dollar Shares have 1 vote per share. Following Conversion (which is expected to take place on 13 May 2020) the total number of voting rights in the Company will be 659,636,508. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interests in the Company under the FCA's Disclosure and Transparency Rules.

Unless otherwise defined, capitalised terms shall have the meaning given to them in the prospectus of the Company dated 30 September 2013.

Note: The issued share capital and total voting rights with effect from 13 May 2020 may be subject to change due to the current on-going transactions in own shares of the Company.

The conversion dates for 2020 are set out below. In accordance with the Prospectus, Shareholders wishing to convert their Shares must give the Company 10 Business Days' notice in advance of the first Business Day of each calendar month.

Conversion Date   Dates by which elections for conversion must be received  

10 June 2020  15 May 2020

10 July 2020  17 June 2020

12 August 2020  20 July 2020

10 September 2020  17 August 2020

12 October 2020  17 September 2020

11 November 2020  19 October 2020

10 December 2020   17 November 2020

12 January 2021   16 December 2020

Praxis Fund Services Limited

Company Secretary 

Matt Falla/Gemma Woods

[phone]

 

END

 

 

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