Nb Distressed Debt Inves... Share Discussion Threads

[eeza] 05/9/2016 07:28

A few more bought back.

"The Company announces that pursuant to the general authority granted by shareholders of the Company on 24 August 2016 to make market purchases of its own New Global ordinary share capital ("New Global Shares") it repurchased 25,000 New Global Shares at a price of 72.50 pence per New Global Share, to be held in treasury, on 2 September 2016. This represents approximately 0.023 per cent of the Company's current issued New Global Shares.



Following this transaction, the Company has 110,785,785 New Global Shares in issue of which 8,687,500 are held in treasury."

[tiltonboy] 02/9/2016 21:53

£ strength doesn't help!

[skyship] 02/9/2016 19:30

NAV strangely skittish as it closes out the week on a disappointing low:
========================================================================

02 Sep 2016

Net Asset Value Per Share

NB Distressed Debt Investment Fund Limited announces the following unaudited, estimated net asset values per share as at 01 Sep 2016:

Extended Life Share USD 1.0094
Ordinary Share USD 1.1439
New Global Share GBP 0.8454

[luckymouse] 02/9/2016 19:14

nice LT d.btm - with the name I thght wld be a high yielder

[eeza] 02/9/2016 07:17

01 Sep 2016
Net Asset Value Per Share
New Global Share GBP 0.8613

repurchased 25,000 New Global Shares at a price of 72.00 pence per New Global Share, to be held in treasury, on 1 September 2016. This represents approximately 0.023 per cent of the Company's current issued New Global Shares.
Following this transaction, the Company has 110,785,785 New Global Shares in issue of which 8,662,500 are held in treasury.

[eeza] 01/9/2016 16:27

50k at 72p - buyback for investors, or management?

[eeza] 31/8/2016 20:06

And like the proverbial woman's knickers.

NB Distressed Debt Investment Fund Limited announces the following unaudited, estimated net asset values per share as at 30 Aug 2016:
Extended Life Share
USD 1.0209
Ordinary Share
USD 1.1454
New Global Share
GBP 0.8655

[digger61] 31/8/2016 16:44

record my thanks to SKYSHIP who recommended buying these on 9 July. Keep the tips coming!

[my retirement fund] 31/8/2016 10:58

Took a slug :)

[skyship] 31/8/2016 10:49

Chart looks great too:


free stock charts from uk.advfn.com

[gbill11] 31/8/2016 10:22

I bought some more because with this NAV increase the shares are cheaper at 72p than they were when I first bought at 69.75p at the end of last week.

I hope the manager is buying back loads. rgds Gary

[courant] 31/8/2016 08:59

SKYSHIP,

The NAV returns here are always going to be lumpy, because they're the result of binary events (e.g. a restructuring, an asset sale). So it's not surprising: a) that the NAV hasn't followed quoted HY indices or funds investing in that sector; b) you'll get NAV jumps like this on positive event outcomes.

Bottom line for me is that I'd expect a positive NAV return from par, albeit not huge - in other words, I'm not convinced that this is a good investment to make from launch. (E.g. look at NBDD's performance for one of their mature portfolios). But it's the discount to the future e.g. ~120p expected return that makes this attractive for me. Maybe I'll be proved wrong and things will be more positive, either way with a low mid 60s average purchase price, there's significant margin of safety.

Courant

[tiltonboy] 31/8/2016 08:05

Picked some up at 70.49

[skyship] 31/8/2016 07:53

Absolutely:

70p - discount = 19.7%
71p - discount = 18.6%
72p - discount = 17.4%
73p - discount = 16.3%

Now kicking myself for not adding more than the token 5k I actually bought @ 69.5p; but at 14% allocation I'm already well over my 10% maximum. From time to time I allow exceptions - RLSZ, ACD....& now here.

Question has to be - just how did they compute that c5% NAV rise in just 3days!?

[eeza] 31/8/2016 07:27

Discount 20%.

[skyship] 31/8/2016 07:17

WOW – NAV rises c4% in a day; and at the same time NED Sarah Evans buys 40k @ 69.75p:

30 Aug 2016

Net Asset Value Per Share

NB Distressed Debt Investment Fund Limited announces the following unaudited, estimated net asset values per share as at 26 Aug 2016:

Extended Life Share USD 1.0276
Ordinary Share USD 1.1474
New Global Share GBP 0.8721

[eeza] 30/8/2016 21:58

30 August 2016



NB Distressed Debt Investment Fund Limited

(the "Company")





Transaction in Own Shares





The Company announces that pursuant to the general authority granted by shareholders of the Company on 24 August 2016 to make market purchases of its own New Global ordinary share capital ("New Global Shares") it repurchased 50,000 New Global Shares at a price of 69.50 pence per Global Share, to be held in treasury, on 26 August 2016. This represents approximately 0.045 per cent of the Company's current issued New Global Shares.



Following this transaction, the Company has 110,785,785 New Global Shares in issue of which 8,637,500 are held in treasury. The Company also has 228,530,809 Extended Life Shares and 35,218,587 Ordinary Shares in issue of which none are held in treasury. All shares have 1 vote per share.

[eeza] 30/8/2016 21:55

Sarah Evans 40k buy at 59.75p, on 26 August.

NB Distressed Debt Investment Fund Limited
30 Aug 2016
Net Asset Value Per Share
NB Distressed Debt Investment Fund Limited announces the following unaudited, estimated net asset values per share as at 26 Aug 2016:
Extended Life Share
USD 1.0276
Ordinary Share
USD 1.1474
New Global Share
GBP 0.8721

[tiltonboy] 30/8/2016 21:32

No wonder there is director buying when the NAV is north of 87p!

Time for the company to be a bit more aggressive.

[eeza] 27/8/2016 10:37

NB Distressed Debt Investment Fund Limited - 26 Aug 2016


Net Asset Value Per Share

NB Distressed Debt Investment Fund Limited announces the following unaudited, estimated net asset values per share as at 25 Aug 2016:

Extended Life Share

USD 1.0083

Ordinary Share

USD 1.1426

New Global Share

GBP 0.8406

[skyship] 26/8/2016 11:59

Thnx Tilts. Notionally they have carte blanche to make the buybacks as they see fit; and it is certainly fit to do so at a 16% NAV discount! They should take it through steps:

# Bid up to 72p for a 13% discount

# then up to 75p for a 10% discount

That level is stil double the propectus aim for a 5% discount...

[digger61] 26/8/2016 10:48

Good work Tiltonboy/Skyship.

[tiltonboy] 26/8/2016 10:45

I have had some very strong words with the brokers, and hopefully that message will get through.

[skyship] 26/8/2016 10:26

No sooner said than done!:
=========================


26 August 2016

NB Distressed Debt Investment Fund Limited

Transaction in Own Shares

The Company announces that pursuant to the general authority granted by shareholders of the Company on 24 August 2016 to make market purchases of its own New Global ordinary share capital ("New Global Shares") it repurchased 50,000 New Global Shares at a price of 69.50 pence per Global Share, to be held in treasury, on 25 August 2016. This represents approximately 0.045 per cent of the Company's current issued Extended Life Shares.

[tiltonboy] 25/8/2016 19:43

The results are immaterial, as we get daily NAV's, but the lack of a detailed statement shows the contempt with which shareholders have been treated.

The toothless board should have called a halt to any further investments, and brought forward the returns to shareholders. With the shares trading on a 15% discount to NAV, they should be buying back their own stock!