NB Private Equity Partners Announces Share Buyback
Recently, NB Private Equity Partners (LSE: NBPE) unveiled significant details regarding the buyback of its own shares, an initiative that showcases its commitment to maximizing shareholder value. This strategic move follows a general authority granted by its shareholders, reinforcing the trust placed in the company's management.
Details of the Recent Transaction
The company provided an update on a recent transaction involving Class A Shares, executed under a buyback agreement with Jefferies International Limited. These shares were bought back as part of a series of authorized actions aimed at supporting the market position of NBPE.
Transaction Summary
On October 24, a total of 9,352 Class A Shares were purchased at prices ranging from £15.08 to £15.02. This carefully timed acquisition reflects the company’s strategies and market insights. The details of the transaction are outlined as follows:
- Date of Purchase: October 24
- Shares Acquired: 9,352 Class A Shares
- Price Range: £15.08 (highest) / £15.02 (lowest)
- ISIN: GG00B1ZBD492
Impact of Share Buyback
With the completion of this share repurchase, all acquired Class A Shares will be cancelled. Consequently, the outstanding number of Class A Shares will total 44,726,202. Additionally, the company maintains 3,150,408 Class A Shares in treasury. Under the regulations established by the FCA’s Disclosure Guidance and Transparency Rules, stakeholders should consider the figure of 44,726,202 when assessing voting rights related to NBPE.
Contact Information for Enquiries
For more detailed inquiries, stakeholders are encouraged to connect with NBPE’s investor relations team. The company is prepared to engage and facilitate discussions regarding this recent activity.
NBPE Investor Relations: +44 20 3214 9002
Contact: Luke Mason
Email: NBPrivateMarketsIR@nb.com
Kaso Legg Communications: +44 (0)20 3882 6644
Contact: Charles Gorman
Email: nbpe@kl-communications.com
About NB Private Equity Partners Limited
NB Private Equity Partners Limited stands out as a key player in the private equity field, engaging in direct investments aligned with leading private equity firms across the globe. The company is managed by NB Alternatives Advisers LLC, a wholly-owned subsidiary of Neuberger Berman Group LLC. NBPE's unique approach involves a commitment to efficiency, refraining from charging management fees or carried interest to third-party general partners, thereby providing better value for its investors. Its goal is not only to achieve capital appreciation through asset value growth but also to distribute bi-annual dividends to its shareholders.
About Neuberger Berman
As a long-standing entity in the investment management sphere since its formation in 1939, Neuberger Berman has grown to manage an impressive $558 billion across various asset classes including equity, fixed income, and private equity. The company prides itself on an employee-owned model, emphasizing active management and thorough market research. Neuberger Berman has consistently been recognized as a top workplace in the industry, indicating its commitment to employee and client satisfaction.
Frequently Asked Questions
What is the purpose of a share buyback?
A share buyback occurs when a company purchases its own shares from the marketplace, often to reduce the number of outstanding shares, which can lead to increased earnings per share and return of capital to shareholders.
How does a buyback affect shareholders?
Share buybacks can enhance shareholder value by potentially increasing share prices and distributing earnings more efficiently among fewer remaining shares.
Who manages NB Private Equity Partners?
NB Private Equity Partners is managed by NB Alternatives Advisers LLC, which is a subsidiary of Neuberger Berman Group LLC.
What are the benefits of investing in private equity?
Investing in private equity can offer diversification, potential high returns, and exposure to private-owned companies not available through public markets.
How many Class A Shares are currently outstanding after the buyback?
After the recent buyback, the outstanding number of Class A Shares is 44,726,202.
