Conversion between share classes

RNS Number : 7575L

NB Global Floating Rate Income Fund

04 August 2011

 

4 August 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 and Sterling Shares into U.S. Dollar Shares (the "Conversion"). On the basis of the net asset values of the Company's shares as at 29 July 2011 (and using spot currency exchange rates as appropriate, in each case as at 29 July 2011), the conversion ratios, calculated in accordance with the Company's articles of incorporation, are as follows:

GBP to USD 1.6413

USD to GBP 0.6093

On the basis of the aggregate level of conversion notices received by the Company, applications have been made for the admission of 112,893 Sterling Shares and 4,676,060 U.S. 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 has also been made for the cancellation of the listing on the Official List and admission to the Main Market of 185,292US Dollar Shares and 2,849,000 Sterling Shares.  It is expected that such applications will become effective and that dealings in the new Sterling Shares will commence on 11 August 2011.  Accordingly, the Company's issued share capital with effect from 10 August 2011 will be as follows: 

234,516,675 Sterling Shares

137,754,580 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 10 August 2011) the total number of voting rights in the Company will be 512,981,260.  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.

ENDS

BNP Paribas Fund Services (Guernsey) Limited

Sara Bourne

[phone]

 

END

 

 

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