REG-NB Private Equity Partners Limited : NB Private Equity Partners Ltd Announce Extension to Share Buyback Programme to 31 May 2016

NB Private Equity PartnersAnnouncement

31/03/2016 12:50

31 March 2016 
 
 NB Private Equity Partners Limited (" NBPE " or the " Company "), a
closed-end private equity investment company, announces the extension of its
share buy-back programme (the " Programme ") that was implemented with effect
from 22 October 2010.  The Programme was due to expire on 31 March 2016. The
Board believes that it is in the interests of shareholders in the Company to
extend the term of the Programme to 31 May 2016. The other previously
announced terms and conditions of the Programme will not be amended in any
way.  
 
 NBPE has appointed Jefferies International Limited (" Jefferies ") to manage
the Programme and authorised Jefferies to effect on-market repurchases of
class A ordinary shares (" Shares ") on behalf of the Company on Euronext
Amsterdam and/or the Specialist Fund Market of the London Stock Exchange plc
(each an " Exchange "). 
 
 Pursuant to and during the term of the Programme, Jefferies may independently
of, and without influence by NBPE, purchase Shares from time to time at its
absolute discretion provided that: 
 
 2 the maximum price payable for a Share on an Exchange may not exceed the
higher of: (i) the price of the last independent trade; and (ii) the highest
current independent bid, in each case with respect to the Shares on the
relevant Exchange; and 4 the aggregate number of Shares which may be acquired
on behalf of the Company in connection with the Programme (inclusive of any
Shares repurchased by the Company prior to the date of this announcement)
shall not exceed 6,776,250 (representing 13% of the Company's issued share
capital as at the date of this announcement). 
 
 As at the date of this announcement, 2,269,028 Shares have been bought back
by the Company pursuant to the Programme and have been cancelled. Prior to the
start of the Programme, 3,150,408 Shares have been repurchased by the Company
and are held as treasury stock.  As such, the Company is permitted to
purchase up to 1,356,814 more Shares under the terms of the Programme. 
 
 Share buy-backs under the Programme will be made pursuant to the shareholder
authority granted to the Company at the Annual General Meeting held on 12 May
2015, as detailed in the announcement made by the Company on 13 May 2015. 
 
 Due to the limited liquidity in the Shares, a buy-back of Shares pursuant to
the Programme on any trading day is likely to represent a significant
proportion of the daily trading volume in the Shares on the relevant Exchange
(and is likely to materially exceed the 25% and 50% limits of the average
daily trading volume during September 2010 as referred to in the Commission
Regulation (EC) No. 2273/2003 on buy-back programmes). 
 
 NBPE will continue to make a public announcement of any market repurchase of
Shares no later than 7:30a.m. (London time)/8:30a.m. (Amsterdam time) on the
business day following the calendar day on which the repurchase occurred. 
Shares bought back under the Programme will be cancelled. 
 
 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 Specialist Fund
Market of the London Stock Exchange. NBPE has ZDP shares admitted to trading
on the Specialist Fund Market of the London Stock Exchange and the Daily
Official List of The Channel Islands Securities Exchange Authority Limited.
NBPE holds a diversified portfolio of direct-yielding investments,
co-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 18 countries, Neuberger Berman's team is more than 2,100
professionals and the company was named by Pensions & Investments as a 2013
and 2014 Best Place to Work in Money Management. Tenured, stable and long-term
in focus, the firm fosters an investment culture of fundamental research and
independent thinking. It manages $240 billion in client assets as of 31
December 2015. For more information, please visit our website at www.nb.com . 
 
 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. 
 
 Jefferies is acting for NBPE and no one else in connection with the
repurchase of Shares pursuant to the Programme and will not be responsible to
anyone other than NBPE for providing the protections afforded to clients of
Jefferies or for providing advice in relation to such repurchases, or to the
matters referred to in this announcement. 
 

 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX 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 
 HUG#1999351