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NB Distressed Debt Investment Fund Limited announced on July 1, 2025, that all resolutions were duly passed at its Annual General Meeting held on June 30, 2025. Following the AGM, the Board stated its intention to discuss with its Investment Manager and advisors the timing for bringing forward liquidation proposals, noting current sale negotiations on three of the four remaining assets.
| Date | 1 Jul 2025 |
| Time | 17:00:00 |
| Category | AGMs and other meetings |
| ID | 2843P |
1 July 2025
NB Distressed Debt Investment Fund Limited
(the "Company")
Results of Annual General Meeting
At the Annual General Meeting (the "AGM") of the Company held at 3:00 p.m. yesterday all resolutions set out in the AGM Notice sent to shareholders were duly passed.
Details of the proxy voting results which should be read alongside the Notice sent to shareholders on 30 April 2025 are noted below. A vote withheld is not a vote in law and has not been counted in the votes for and against a resolution.
|
Ordinary Resolutions |
For |
Against |
Withheld |
|
1 |
40,066,566 |
0 |
0 |
|
2 |
39,984,794 |
81,772 |
0 |
|
3 |
20,072,952 |
19,993,614 |
0 |
|
4 |
34,653,112 |
5,413,454 |
0 |
|
5 |
33,080,644 |
6,985,922 |
0 |
|
6 |
40,066,566 |
0 |
0 |
|
7 |
33,080,644 |
6,985,922 |
0 |
|
8 |
40,066,566 |
0 |
0 |
|
9 |
40,066,566 |
0 |
0 |
|
|
|
|
|
The Board said that while disappointing, the votes against the Chairman were understandable both from the point of view of good governance and because of the failure to realise assets, and thus return capital, more speedily. The Chairman would like to take this opportunity to thank his fellow shareholders for their prior forbearance.
The Board had already been debating whether it could continue to add value for shareholders and now intends to discuss with the Investment Manager and other advisors the timing for bringing forward liquidation proposals in light of current sale negotiations on three of the four remaining assets.
Legal Identity Identifier (LEI): YRFO7WKOU3V511VFX790
Enquiries:
Suntera (Guernsey) Limited
Company Secretary
Tel: +44 (0) 1481 700300
Email: [email protected]
U.S. Bank Global Fund Services (Guernsey) Limited
Administrator
Tel: +44 (0) 1481 723450
Jefferies International Limited
Financial Adviser and Corporate Broker
Tel: +44 (0)20 7029 8000
Neuberger Berman Europe Limited
Manager
Tel: +44 20 7355 7229
Neuberger Berman Investment Advisers LLC
Alternative Investment Fund Manager
Tel: +1 (312) 325-7700
NB Distressed Debt Investment Fund Limited
The Company is a closed-ended investment company incorporated and registered in Guernsey on 20 April 2010 with registration number 51774. The Company is governed under the provisions of the Companies (Guernsey) Law, 2008 (as amended) (the "Law"), and the Registered Collective Investment Scheme Rules and Guidance 2021 issued by the Guernsey Financial Services Commission ("GFSC"). It is a non-cellular company limited by shares and has been declared by the GFSC to be a registered closed-ended collective investment scheme. The Company trades on the Specialist Fund Segment ("SFS") of the London Stock Exchange ("LSE"). The Company is a member of the Association of Investment Companies (the "AIC") and is classified within the Debt - Loans & Bonds Category