Share Buyback Update - Global Shares

RNS Number : 0340J

NB Distressed Debt Invest. Fd. Ltd

15 December 2015

 



15 December 2015

NB Distressed Debt Investment Fund Limited

NBDG share buyback update

In implementing its discount control policy for the New Global Shares, NB Distressed Debt Investment Fund Limited (the "Company") has repurchased 4,065,000 New Global Shares since June 2015. Despite this the Company has seen the discount to net asset value narrow only marginally from approximately 9.8% to 9.7% during the buyback period.

The discount control policy in relation to the New Global Shares states that if the New Global Shares trade, on average over the last three calendar months, at a price which is a discount of more than 5 per cent. to the most recently published net asset value per New Global Share, the Company intends, subject to normal market conditions and available cash resources, to repurchase New Global Shares, with a view to reducing the discount.

In light of ongoing market conditions in the distressed debt sector and potential year end purchasing opportunities, the board of the Company (the "Board") is reviewing its buyback programme, during which time the Company does not intend to undertake further market purchases of New Global Shares until further notice. The Board will continue to review the buyback programme as market conditions develop.   

For further information, please contact:

Carey Group Sara Bourne Claire McSwiggan	01481 737245
Stifel Nicolaus Europe Limited Neil Winward Mark Bloomfield Gaudi Le Roux	020 7710 7600
Winterflood Investment Trusts Joe Winkley Neil Langford	020 3100 0000

 

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