Conversion of Securities

RNS Number : 7332N

NB Global Floating Rate Income Fund

06 September 2011

 



6 September 2011

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

Conversion between Share Classes

The Company today announces the conversion of a number of U.S. Dollar Shares into Sterling Shares (the "Conversion"). On the basis of the net asset values of the Company's shares as at 31 August 2011 (and using spot currency exchange rates as appropriate, in each case as at 31 August 2011), the conversion ratios, calculated in accordance with the Company's articles of incorporation, are as follows:

USD to GBP 0.61545058

On the basis of the aggregate level of conversion notices received by the Company, applications have been made for the admission of 48,467 Sterling 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 has also been made for the cancellation of the listing on the Official List and admission to the Main Market of 78,752US Dollar Shares.  It is expected that such applications will become effective and that dealings in the new Sterling Shares will commence on 13 September 2011.  Accordingly, the Company's issued share capital with effect from 12 September 2011 will be:

234,765,142 Sterling Shares

137,675,828 U.S. Dollar Shares

U.S. Dollar Shares have 1 vote per share, and Sterling Shares have 1.6 votes per share.  Following Conversion (which is expected to take place on 12 September 2011) the total number of voting rights in the Company will be 513,300,055.  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 interest in the Company under the FSA's Disclosure and Transparency Rules.

Unless otherwise defined, capitalised terms shall have the meaning given to them in the prospectus of the Company dated 18 March 2011.

Shareholders should note that the Directors reserve the right to reject conversion requests at their absolute discretion.  The Company is required to satisfy the ongoing requirements of the Listing Rules and, in so doing, the Directors may be obliged to reject certain conversion requests.  The Directors will endeavour to approve all conversion requests possible but are unable to guarantee that all conversion requests will be facilitated. 

ENDS

BNP Paribas Fund Services (Guernsey) Limited

Sara Bourne

[phone]

 

END

 

 

CONLLFIEALIRIIL