NBPE: Second 2017 Semi-Annual Dividend
July 20 2017 - 1:00AM
NB Private Equity Partners
Announces its Second 2017 Semi-Annual Dividend
20 July 2017
Second 2017
Semi-Annual Dividend
NB Private Equity Partners Limited
("NBPE" or the "Company"), a closed-end private equity investment
company, today declared the second 2017 semi-annual dividend
payment on the Company's class A Ordinary Shares ("Shares") of
$0.25 per Share, to be paid on 31 August 2017.1 The
total dividend for 2017 is therefore $0.50 per Share. On an
annualised basis, this dividend payment represents a dividend yield
of 3.1% based on the estimated May 2017 NAV of $16.04 and 3.8%
based on the London Stock Exchange closing price of £10.16 ($13.27
at GBP/USD exchange rate of $1.306) on 17 July 2017.
As part of its long-term policy of
paying regular dividends, NBPE intends to make semi-annual payments
to its shareholders. As of 31 May 2017, the dividend is 57% covered
by the run rate cash yield from the income investments in the
portfolio and approximately 4x covered based on total 2017 YTD cash
distributions of approximately $104 million. NBPE continues to see
a steady flow of new equity and income investment opportunities as
well as strong distribution activity from investment
realisations.2
Change to Default
Dividend Currency Election
Following the Company's listing on
the Premium Segment of the Main Market of the London Stock Exchange
and the redenomination of the Company's trading currency into
Sterling, an election for a Sterling dividend payment will no
longer be necessary and shareholders who wish to continue to
receive their dividend in Sterling need to take no additional
action and will receive Sterling at the prevailing rate. However,
shareholders who wish to receive dividends in US Dollars will need
to make the appropriate election on forms which will be available
on NBPE's website in the coming days. If you're electing for the
dividend re-investment plan you should note that the shares will
now be purchased in GBP so any residue balance or partial cash
dividend will be paid in Sterling, though as per the terms and
conditions, dividend re-investment plan elections continue to be
evergreen and pending termination or withdrawal from the plan,
residuals will be carried forward and added to future dividends.
There will be no changes to the reporting currency or the currency
in which NBPE declares dividends (which will remain US
Dollars).
Dividend
Timetable
Distribution amount: |
$0.25 cents per Share |
Ex-dividend date: |
27 July 2017 |
Dividend record date: |
28 July 2017 |
Final day for Currency Election: |
4 August 2017 |
Final day for Dividend Re-investment Plan
Election3: |
11 August 2017 |
Payment date: |
31 August 2017 |
-
This dividend as well as future
dividends shall be conditional on the passing of the solvency test
under Guernsey law. The Board of Directors will continue to
evaluate the Company's financial position, annual dividend amounts
and the timing of future dividends. Future dividend payments will
be announced by NBPE after the Board of Directors have completed
such evaluation.
-
The above distribution guidance
regarding investment portfolio performance is not a profit
forecast. There can be no assurance that this distribution level
will be sustained or that the Company will make any distributions
whatsoever. The times and dates in this announcement are expected
times and dates only and are subject to change. Any such changes
will be notified to shareholders through a regulatory information
service.
-
Anyone acting for the account
or benefit of a U.S. person who elects to receive additional shares
through the dividend re-investment plan would need to sign a
Qualified Purchaser certification, which is available from the
Company's Investor Relations upon request by contacting +1 214 647
9593 or IR_NBPE@nb.com.
For further
information, please contact:
NBPE Investor
Relations +1
214 647 9593
Neustria
Partners
+44 (0)20 3021 2583
Nick Henderson
Nick.Henderson@neustriapartners.com
Robert Bailhache
Robert.Bailhache@neustriapartners.com
Charles Gorman
Charles.Gorman@neustriapartners.com
ABOUT NB PRIVATE
EQUITY PARTNERS LIMITED
NBPE is a closed-end private
equity investment company with class A ordinary shares admitted to
trading on Euronext Amsterdam and the Premium Segment of the Main
Market of the London Stock Exchange. NBPE has 2022 ZDP Shares
admitted to trading on the Specialist Fund Segment of the Main
Market of the London Stock Exchange. NBPE holds a diversified
portfolio of direct equity investments, direct income investments
and fund investments selected by the NB Alternatives group of
Neuberger Berman, diversified across private equity asset class,
geography, industry, vintage year, and sponsor.
ABOUT NEUBERGER
BERMAN
Neuberger Berman, founded in 1939,
is a private, independent, employee-owned investment manager. The
firm manages equities, fixed income, private equity and hedge fund
portfolios for institutions and advisors worldwide. With offices in
19 countries, Neuberger Berman's team is approximately 1,900
professionals, as of June 30, 2017. The company was named the #1
firm in Pensions & Investments 2016 Best Places to Work in
Money Management survey (among those with 1,000 employees or more).
Tenured, stable and long-term in focus, the firm fosters an
investment culture of fundamental research and independent
thinking. It manages $271 billion in client assets as of June 30,
2017. For more information, please visit our website at
www.nb.com.
THE INFORMATION CONTAINED HEREIN IS NOT FOR
RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA,
ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF
SUCH JURISDICTIONS
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 any
security.
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
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: NB Private Equity Partners Limited via
Globenewswire
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