Share Buyback Update - Global Shares

RNS Number : 5092L

NB Distressed Debt Invest. Fd. Ltd

12 January 2016

 

12 January 2016

NB Distressed Debt Investment Fund Limited

NBDG share buyback update

On 15 December 2015, NB Distressed Debt Investment Fund Limited (the "Company") announced that, in light of challenging market conditions and potential year end purchasing opportunities, it was reviewing its buyback programme during which time it did not intend to undertake further market purchases of New Global Shares. The Board notes that the discount to net asset value on the New Global Shares has widened since this date.

The Company has now concluded its review and, with the opportunity to acquire assets prior to year end having now passed, the Board announces that it intends to resume market purchases of New Global Shares at its discretion. The Board will continue to monitor the market conditions in the distressed debt sector and is also mindful of the opportunities that such conditions may present for the Company. The investment period for the New Global Shares has approximately 15 months remaining and during this time the Company intends to use available cash resources to reach a balance between taking advantage of attractive market opportunities and undertaking share buybacks, to address any imbalance between the supply of and demand for such shares.

For further information, please contact:

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

 

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