Conversion between share classes

RNS Number : 8417N

NB Global Floating Rate Income Fund

03 October 2012

 



3 October 2012

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 28 September 2012 (and using spot currency exchange rates as appropriate, in each case as at 28 September 2012), the conversion ratios, calculated in accordance with the Company's articles of incorporation, are as follows:

GBP to USD 1.60718227

USD to GBP 0.62220696

 On the basis of the aggregate level of conversion notices received by the Company, applications have been made for the admission of 24,888,278 Sterling Shares and 3,467,977 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 40,000,000US Dollar Shares and 2,157,800 Sterling Shares.  It is expected that such applications will become effective and that dealings in the new Sterling Shares and the US Dollar Shares will commence on 9 October 2012.  Accordingly, the Company's issued share capital with effect from 9 October 2012 will be as follows:

396,918,780 Sterling Shares

82,904,258 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 9 October 2012) the total number of voting rights in the Company will be 717,974,306.  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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