Conversion between share classes

RNS Number : 8884W

NB Global Floating Rate Income Fund

06 February 2012

 

6 February 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 31 January 2012 (and using spot currency exchange rates as appropriate, in each case as at 31 January 2012), the conversion ratios, calculated in accordance with the Company's articles of incorporation, are as follows: 

GBP to USD 1.56989469
USD to GBP 0.63698540 

On the basis of the aggregate level of conversion notices received by the Company, applications have been made for the admission of 1,484,063 Sterling Shares and 392,473 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 2,329,824US Dollar Shares and 250,000 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 February 2012.  Accordingly, the Company's issued share capital with effect from 9 February 2012 will be as follows:

358,604,220 Sterling Shares
142,033,326 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 February 2012) the total number of voting rights in the Company will be 715,800,078.  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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