NB Distressed Debt to cancel CISE listing

NB Distressed Debt has announced its intention to cancel the listing of it shares on the Channel Islands Stock Exchange (CISE). The Company’s Shares are currently admitted to the SFS (Specialist Fund Section) of the London Stock Exchange’s Main Market and are also listed on the CISE. The Board says that one of the key benefits of the CISE listing, at the Company’s launch, was to ensure ISA eligibility of the Company’s Shares. However, they say that this benefit has since fallen away in light of certain amendments to the ISA Regulations, which provide that the Company’s Shares are eligible to being held in an ISA by virtue of the Company’s admission to the SFS. The board say that, having considered all aspects of the matter, it believes that it is in the interests of the Company and its Shareholders to cancel the Company’s CISE listing. The company say that it has posted a circular to shareholders giving notice of its intention to cancel its CISE Listing and that the Circular will be made available on the Company’s website (www.nbddif.com). The board say that it anticipates the CISE listing will be cancelled on 30 August 2016 but that this action has no impact on the Company’s admission to the SFS.

NB Distressed Debt to cancel CISE listing : NBDD