22 October 2009
NB Private Equity Partners Limited ("NBPE" or "the Company"), a
closed-end private equity fund of funds investment company, today
announces the publication of a Circular (the "Circular") in relation
to its proposed issue of zero divided preference shares ("ZDP
Shares"). The indicative terms of the Company's ZDP Share issue were
announced on 7 October 2009.
In relation to the ZDP Share issue, the Company is required to seek
certain shareholder consents, including shareholder approval of
certain changes to the Company's Articles of Incorporation (the
"Articles") in order to establish the rights (summarised in the
Circular) which will attach to the new ZDP Shares. The adoption of
the Company's new Articles will require the approval of the Company
by special resolution (which will involve the passing of a written
resolution by the holder of the Company's Class B Shares) and of the
Company's Class A Shareholders by ordinary resolution at a class
meeting of the Class A Shareholders (the "Class Meeting").
The Class Meeting will take place at 10.30am on 13 November 2009 at
Heritage Hall, Le Marchant Street, St. Peter Port, Guernsey GY1 4HY,
and Forms of Proxy must be returned in the manner indicated thereon
by 10.30am on 11 November 2009.
It is expected that the final terms of the ZDP Shares and the target
size of the issue will be announced in due course. Capitalized terms
used but not defined in this announcement shall, unless the context
requires otherwise, have the same meaning as in the Circular.
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
Oriel Securities +44 20 7710 7600
Financial Dynamics +44 20 7269 7114
About NB Private Equity Partners Limited
NBPE is a closed-end private equity fund of funds investment company
admitted to trading on Euronext Amsterdam and the Specialist Fund
Market of the London Stock Exchange. NBPE holds a diversified
portfolio of private equity fund investments and direct
co-investments selected by the NB Alternatives group of Neuberger
Berman, diversified across private equity asset class, geography,
industry, vintage year and sponsor.
This press release appears as a matter of record only and does not
constitute an offer to sell or a solicitation of an offer to purchase
NBPE is established as a closed-end investment company domiciled in
Guernsey. NBPE has received the necessary consent of the Guernsey
Financial Services Commission and the States of Guernsey Policy
Council. NBPE is registered with the Dutch Authority for the
Financial Markets as a collective investment scheme which may offer
participations in The Netherlands pursuant to article 2:66 of the
Financial Markets Supervision Act (Wet op het financial toezicht).
All investments are subject to risk. Past performance is no guarantee
of future returns. The value of investments may fluctuate. Results
achieved in the past are no guarantee of future results. This
document is not intended to constitute legal, tax or accounting
advice or investment recommendations. Prospective investors are
advised to seek expert legal, financial, tax and other professional
advice before making any investment decision. Statements contained in
this document that are not historical facts are based on current
expectations, estimates, projections, opinions and beliefs of NBPE's
investment manager. Such statements involve known and unknown risks,
uncertainties and other factors, and undue reliance should not be
placed thereon. Additionally, this document contains "forward-looking
statements." Actual events or results or the actual performance of
NBPE may differ materially from those reflected or contemplated in
such targets or forward-looking statements.
Oriel Securities Limited ("Oriel") is acting for NBPE and no-one else
in connection with NBPE and will not be responsible to anyone other
than NBPE for providing the protections afforded to customers of
Oriel or for providing advice in relation to NBPE.
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solely responsible for the content of this announcement.