Cancellation of listing on the CISE

RNS Number : 7941E

NB Distressed Debt Invest. Fd. Ltd

20 July 2016

 

20 July 2016

NB Distressed Debt Investment Fund Limited

(the "Company")

Cancellation of the listing of Shares on the CISE

The Company announces that it has today posted to Shareholders a Circular giving notice of its intention to cancel its Channel Islands Securities Exchange ("CISE") Listing. The Circular will be made available on the Company's website at www.nbddif.com. 

The Company's Shares are currently admitted to the SFS and listed on the CISE. The Board, in consultation with its advisers, has evaluated the benefit of continuing to list the Company's Shares on the CISE. The Board notes that one of the key benefits of the CISE listing at the Company's launch was to ensure ISA eligibility of the Company's Shares. This benefit has since fallen away in light of certain amendments to the ISA Regulations which provide that the Company's Shares are eligible to being held in an ISA by virtue of the Company's admission to the SFS.

Having considered all aspects of the matter, the Board believes that it is in the interests of the Company and its Shareholders to cancel the Company's CISE listing.

Accordingly the Board hereby gives notice to the Shareholders that in accordance with rule 3.5.9 of the Listing Rules of the CISEA, the Company has made an application for the cancellation of the listing of the Company's Shares on the CISE. The Board anticipates that the listing of the Shares on the CISE shall be cancelled on 30 August 2016. Following the cancellation of the Company's listing on the CISE, the Company's shares will no longer be quoted on the CISE. This action has no impact on the Company's admission to the SFS.

Capitalised terms in this announcement shall have the meanings ascribed to them in the Articles of Incorporation of the Company and the Circular giving notice of the Company's intention to cancel its CISE listing, unless the context requires otherwise.

Enquiries:

Carey Group

Claire McSwiggan           

01481 737281

 

END

 

 

MSCSESFMSFMSEDW