NBMI - Proposed Managed Wind-Down

[88V8]

RNS yesterday, somewhat belated.

NAV now said to be 80.5p, but the SP is sitting at 73p so there's money on the table. Provided the NAV actually pans out.

V8

[Gan020]

I could easily spend the redemption money today. Will these prices be availalbe in a couple of weeks?

[88V8]

I could easily spend the redemption money today. Will these prices be available in a couple of weeks?

VSL still sitting at a 20% discount.
If Credit Suisse finally go under, much better prices will be available in two weeks, so keeping powder dry.

Also, was a bit taken aback yesterday to notice that we have c38% in Financials so I really should lay off.

V8

[Gan020]

I could easily spend the redemption money today. Will these prices be available in a couple of weeks?

VSL still sitting at a 20% discount.
If Credit Suisse finally go under, much better prices will be available in two weeks, so keeping powder dry.

Also, was a bit taken aback yesterday to notice that we have c38% in Financials so I really should lay off.

V8

Credit Suisse backstopped today which really is a good thing. It's kind of giving the banks time to get their house in order.

I have 39% in financials and I consider that too much. I'm going to set myself a target on this. I'm not sure what it should be and I shall have to think on that.

[terminal7]

The Company (Legal Entity Identifier: 549300P4FSBHZFALLG04) advises that it intends to distribute to Shareholders an aggregate amount of £37 million (the "Distribution") by way of a partial compulsory redemption of Shares in the capital of the Company (the "Compulsory Redemption") on 16 May2023(the "CompulsoryRedemption Date").

the Company will redeem approximately 25.8% of existing Shares of Shareholders on the register of members as at close of business on 16 May 2023 (the "Redemption Record Date"). The Redemption will be effected at 80.22 pence per Share

Slowly slowly

T7

[terminal7]

NB Global Monthly Income Fund Limited has announced the compulsory partial redemption of approximately 25.8% of the remaining Ordinary shares in issue, at a price of GBP0.8022 per redeemed share. The redemption date is 16th May 2023 and accounts are expected to be credited around 31st May 2023.

Well here is the confirmation of the pay-out - who knows how long the rest will take.

Interesting to note that one's shareholding has been diminished by 25.7% on opening without obviously the compensatory cash credit - therefore maybe giving a bit of a shock to unaware holders whose total portfolio value may have dipped as a result.

T7

[terminal7]

Arrived on time. Now the big wait for the large residual.

T7

[88V8]

Arrived on time. Now the big wait for the large residual.

Hope it's large.
The SP now is 75 and the NAV 78.6. Ongoing rate rises may not be helpful.

V8

[Happy33]

Can you please help me with this wind down issue.
I bought 4000 pieces of this fund at the beginning of 2022.
THen came this wind-down thing and my bank gave a notice of exchange 779 pcs to C 779 NB GLOBAL MONTHLY RED (QQ00BNHVRZ02)
ANother exchange D 3.221 NB GLOBAL MONTHLY INCOME FUND LIMITED RED ORD SHS NPV IE (GG00B3KX4Q34) to D 3.221 NB GLOBAL MONTHLY INCOME FUND LIMITED RED ORD SHS NPV IE (GG00B3KX4Q34) and
a third exchange D 3.220 NB GLOBAL MONTHLY (GG00BP0XL116) to C 2.389 NB Global Monthly Income Fund Ltd (GG00BRJTP891)
What to think of this information. I have not seen a singel pound for these transactions.
Is there somebody there to shine some light on this. It is in Belgium with Keytradebank. They give no answer yet.
Happy33

[Happy33]

I see that i must add some information from the notices.
with the 779 number it said Partial liq Cash pymt So this is the cash payment notice of 779 pieces that were taken from the 4000 to pay out in cash as return of capital, right?

[88V8]

I see that i must add some information from the notices.
with the 779 number it said Partial liq Cash pymt So this is the cash payment notice of 779 pieces that were taken from the 4000 to pay out in cash as return of capital, right?

Yes.
You're getting your own money back.
In instalments.
And hopefully a little more, when you include the dividends.

V8

[Happy33]

Thank you for responding to my question
What I should expect now is the following>
first paying back these 779 pces, at what price may I expect this paying back? And when must NB pay out, so that I can see this.
I do not understand the (ex)change from 3221 to 3220 to 2389 as it is now, in my case.
I am completely new to this subject.
Looking for a monthly paying out fund, I cam across this one that was available on Keytradebank in Belgium, but had no idea that this could happen.
Thank you for helping me out in this matter

[Gan020]

You started with 4000 shares.

The first return of capital was for 19.5% of the shares at 81p
https://www.londonstockexchange.com/new ... n/15873609
Note the 19.5% has many more decimal places so 4000*0.195 gets rounded down to 779 shares. I expect if you look closely through the transaction history on your account it is likely you will have received cash of £630.99
Or your broker has decided 779 was the wrong number and later changed it to 780

The second return of capital was for 25.8% of your remaining shares at 80.22p
https://www.londonstockexchange.com/new ... n/15873609

[Happy33]

That helps a lot and clearifies the 779 pieces. Now I can ask the Keytradebankoffice to look after it more clearely, and with numbers. I had not seen any money of them yet, but that may change now. Probably not familiar with these winding-down issues.
Thank you for the moment for helping me and I better understand what is happening.

[Happy33]

So for the 831 pcs I can expect 831 x 80.22 = 666,63 Gbp, right? Keytradebank looks dead at the moment, no answers on my mails.

[Happy33]

Yesterday, Keytradebank returned the second wind-down outcome, in my case the 666 gbp. Very strange that the first round of 780 x 80,22 did not yet come. After a long telephoneconversation, something happened at last.

[Happy33]

The other payment was done also, so thank you all that took time to look at my case. I am grateful for the answers.

[terminal7]

Another redemption - so where we at:

Paid March - 19.49% @ 0.81p
Paid May - 25.88% @ 0.8022p
Paid July - 27.1% @ 0.7935p

72.47% redeemed - so some way to go in this process that started in January.

T7

[Gan020]

Another redemption - so where we at:

Paid March - 19.49% @ 0.81p
Paid May - 25.88% @ 0.8022p
Paid July - 27.1% @ 0.7935p

72.47% redeemed - so some way to go in this process that started in January.

T7

It's 25.88% of the remainder redeemed and 27.1% of the even lower amount redeemed.

So, around 56.5% redeemed to date

[terminal7]

Another redemption - so where we at:

Paid March - 19.49% @ 0.81p
Paid May - 25.88% @ 0.8022p
Paid July - 27.1% @ 0.7935p

72.47% redeemed - so some way to go in this process that started in January.

T7

It's 25.88% of the remainder redeemed and 27.1% of the even lower amount redeemed.

So, around 56.5% redeemed to date

Thanks Gan for correcting me - so a lot more way to go in this process that started in January!

T7