NB Private Equity Partners Limited Nb Private Equity: Extension Of Share Buyback Agreement

 
TIDMNBPE 
 
 
   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 
 
   NB Private Equity Partners Announces Extension of Share Buyback 
Agreement 
 
   6 January 2020 
 
   NB Private Equity Partners Limited (the "Company" or "NBPE") announces 
an extension of its share buyback agreement with Jefferies International 
Limited ("Jefferies"). This will allow Jefferies at its discretion, 
based on criteria set by the board, to continue to repurchase NBPE Class 
A Shares on behalf of NBPE based on multiple factors, including the 
absolute level of discount, NBPE's discount compared with peers and 
broader equity market movements, among other factors. The board believes 
that under the criteria it has set, any share buybacks will be an 
optimal use of NBPE's capital for the benefit of shareholders, as well 
as being immediately accretive to net asset value. 
 
   Purchases of Class A Shares may be made only in accordance with the 
authority granted by Shareholders at the Company's Annual General 
Meeting on 23 September 2019.  Under the FCA Listing Rules, the maximum 
price that may be paid by the Company on the repurchase of any Class A 
Shares pursuant to a general authority is 105 per cent. of the average 
of the middle market quotations for the Class A Shares for the five 
business days immediately preceding the date of purchase or, if higher, 
that stipulated by regulatory technical standards adopted by the 
European Commission pursuant to Article 5(6) of the Market Abuse 
Regulation (EU) No. 596/2014. 
 
   A buy-back of Class A Shares pursuant to the buyback policy on any 
trading day may represent a significant proportion of the daily trading 
volume in the Class A Shares on the Main Market of the London Stock 
Exchange plc (and could exceed the 25% limit of the average daily 
trading volume of the preceding 20 business days as referred to in the 
Commission Delegated Regulation (EU) No. 2016/1052 on buy-back 
programmes). 
 
   Any purchase of Class A Shares by the Company will be notified by an 
announcement through a Regulatory Information Service by no later than 
7.30 a.m. on the following business day. Class A Shares repurchased by 
the Company will be cancelled. 
 
   Shareholders should note that the purchase of Class A Shares by the 
Company is based on a number of factors and subject to the satisfaction 
of certain conditions set out in the buyback policy. Accordingly, no 
expectation or reliance should be placed on Jefferies exercising such 
discretion on any one or more occasions. 
 
   For further information, please contact: 
 
   NBPE Investor Relations           [phone] 
 
   Kaso Legg Communications      [phone] 
 
   Charles Gorman 
https://www.globenewswire.com/Tracker?data=BiziZOnF-tBFPWQD6xPeET96gKaN2GWI-OrtlsEcniJEZtVn6TnnUkryrR4dz5XIC-P1-F_kaaJvA_iSUhyYu7jpH1oQBcBbfQHkQWziLj3bBghQNNpYO_LqWF9Sh0OP 
[e-mail] 
 
   About NB Private Equity Partners Limited 
 
   NBPE invests in direct private equity investments alongside market 
leading private equity firms globally. NB Alternatives Advisers LLC (the 
"Investment Manager"), an indirect wholly owned subsidiary of Neuberger 
Berman Group LLC, is responsible for sourcing, execution and management 
of NBPE. The vast majority of direct investments are made with no 
management fee / no carried interest payable to third-party GPs, 
offering greater fee efficiency than other listed private equity 
companies. NBPE seeks capital appreciation through growth in net asset 
value over time while paying a bi-annual dividend. 
 
   LEI number: 213800UJH93NH8IOFQ77 
 
   About Neuberger Berman 
 
   Neuberger Berman, founded in 1939, is a private, independent, 
employee-owned investment manager. The firm manages a range of 
strategies--including equity, fixed income, quantitative and multi-asset 
class, private equity, real estate and hedge funds--on behalf of 
institutions, advisors and individual investors globally. With offices 
in 23 countries, Neuberger Berman's diverse team has 2,100 
professionals. For six consecutive years, the company has been named 
first or second in Pensions & Investments Best Places to Work in Money 
Management survey (among those with 1,000 employees or more). The firm 
was awarded an A+ in every category in the latest 2019 PRI report for 
our approach to ESG integration across asset classes. The firm manages 
$339 billion in client assets as of September 30, 2019. For more 
information, please visit our website at www.nb.com. 
 
 
 
 

(END) Dow Jones Newswires

January 06, 2020 02:00 ET (07:00 GMT)

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