NB Global Monthly Income details fourth compulsory redemption in wind-up process

investmentweek.co.uk:

It will be effected at 79.31 pence per share, which is equal to the company’s NAV per share as at 22 August.

The trust will distribute an aggregate amount of £20m to shareholders by way of a partial compulsory redemption next month.

This distribution represents approximately 26.12% of existing shares of registered shareholders as at 11 September 2023, ahead of the redemption date on 26 September.

NB Global Monthly Income begins distribution following trust closure

It will be effected at 79.31 pence per share, which is equal to the company's net asset value per share, as at 22 August.

The number of shares to be redeemed for each investor will be rounded down to the nearest whole number, while any shares traded on or before the redemption date that have not settled, will also be included.

This follows resolutions made at NB Global Monthly Income's AGM on 27 January 2023, where the company's investment objective was changed to realise all existing assets in its portfolio in an orderly manner.

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In the period from 27 January to-date, there have been three compulsory redemptions amounting to more than £100m distributed to shareholders.

This fourth compulsory redemption of £20m will mean the trust will have distributed approximately 66.7% of the NAV as of 27 January 2023.

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