Intention to hold Tender Offer

RNS Number : 4477N

NB Global Monthly Income Fund Ltd

01 June 2022

 

1 June 2022

NB Global Monthly Income Fund Limited

(the "Company")

Intention to hold a tender offer under the cash exit facility

The Board announces that it intends to exercise its discretion to implement the first tender offer under the Cash Exit Facility described in the shareholder circular published by the Company on 17 August 2020 (the "Circular") and approved by Shareholders at the EGM of the Company held on 8 September 2020.

As stated in the Circular, "pursuant to the Cash Exit Facility, the Company may, at the Board's absolute discretion, offer to eligible Shareholders the opportunity to tender up to 25 per cent. of their holdings (a "Cash Exit Facility Offer") at a price equal to the prevailing Net Asset Value per Share, less two per cent. If the Board resolves to exercise its discretion (as they expect to do if the Company is trading at a discount to NAV per Ordinary Share of greater than 2 per cent. as at the date of any Cash Exit Facility Offer), the first Cash Exit Facility Offer is expected to close on 30 June 2022."  The Board have monitored the discount through the month of May and given the discount believe that it is appropriate to implement the first Cash Exit Facility Offer.

Further details and the terms and conditions applicable to the Cash Exit Facility Offer will be contained in a Shareholder circular which is expected to be published on or around 16 June 2022.

Enquiries:

Neuberger Berman Europe Limited (Manager) Elizabeth Papadopoulos	[phone]
Numis Securities Limited (Broker) Hugh Jonathan Matt Goss	[phone]
KL Communications (PR) Charles Gorman	[phone]
Sanne Fund Services (Guernsey) Limited (Company Secretary) Matt Falla/Gemma Woods	[phone]

LEI: 549300P4FSBHZFALLG04

 

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