TIDMNBNK
RNS Number : 3156V
NBNK Investments PLC
11 January 2013
NBNK Investments plc
('NBNK' or the 'Company')
Admission of Subscription Shares to Trading on AIM
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR
INDIRECTLY IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD VIOLATE
THE LAW OF THAT JURISDICTION
Following the announcement by NBNK confirming the results of the
General Meeting and the Warrantholders' Meeting on 8 January 2013,
NBNK announces that 16,077,597 Ordinary Shares of 10 pence each in
the capital of the Company have been issued to the WLR Funds and
were admitted to trading on AIM at 8.00 a.m. on 11 January
2013.
The WLR Funds have also been issued with Placee Warrants
entitled to subscribe for Ordinary Shares representing 2.4092 per
cent of the Fully Diluted Share Capital and Founder Warrants
entitling them to subscribe for 0.4859 per cent of the Fully
Diluted Share Capital of the Company.
Following Admission, the Company's issued share capital consists
of 53,771,229 Ordinary Shares. This figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, NBNK under the FSA's Disclosure and
Transparency Rules.
Board changes:
Further to Admission, the following board changes previously
referenced in the shareholder circular of the Company dated 13
December 2012 (the "Circular") have now become effective:
-- Wilbur L. Ross, Jr. has been appointed as a non-executive
Director and Chairman of the Company (further details regarding
Wilbur L. Ross, Jr. are set out in the Appendix);
-- Lord Levene has resigned as a non-executive Director and
Chairman of the Company;
-- Gary Hoffman has resigned as a Director and CEO of the
Company; and
-- Lord Forsyth has resigned as a non-executive Director of the
Company.
Terms used in this announcement that are defined in the Circular
have the same meaning as given to them in the Circular.
- Ends -
For further information contact:
Cenkos Securities plc (Nominated
adviser and broker)
Ian Soanes
Ivonne Cantu +44 20 7397 8900
Kinmont
James Local +44 20 7087 9100
APPENDIX
WILBUR L. ROSS JR.
In addition to the proposed directorship of the Company, Wilbur
L. Ross, Jr. (aged 75) holds, or has held, the following
directorships and is or has been a member of the following
partnerships within the past five years:
Current directorships/ partnerships Previous directorships/ partnerships
-------------------------------------- --------------------------------------
781 Associates LLC AH Mortgage Acquisition Co. Inc.
Absolute Recovery Advisors, L.P. Blue Ocean Re Holdings Ltd.
Absolute Recovery Capital Partners BST US Holdings, Inc.
LLC Circle Star Investors LLC
Absolute Recovery Hedge Fund Circle Star Manager LLC
LTD. Circle Star Member LLC
Absolute Recovery Hedge Fund, Clarent Hospital Corporation
L.P. Greenbrier Companies, Inc.
Absolute Recovery (TALF) Investments Insuratex, Ltd.
LLC IPE Expansion Fund LP
Absolute Recovery Master Fund IPE-Ross Management LTD
LTD International Coal Group, Inc.
Absolute Recovery SUB LLC International North America Investor
Air Lease Corporation LLC
Apparel Fabrics Properties, Inc. Invesco Legacy Securities Master
Arcelor Mittal Fund, LP
Asia Recovery Associates L.P. Japan Real Estate Associates
Asia Recovery Co-Investment Partners LLC
L.P. Japan Real Estate Recovery Fund
Asia Recovery Fund L.P. L.P.
Assured Guaranty Ltd. Montpellier Re Holdings Ltd.
BankUnited, Inc. Nikko Electric Industry Co. Ltd
BriarCliffe, Inc. Nippon Investment Partners LP
Briarcliffe Condominium Apartment Nippon Sawayaka Associates, LLC
Building Association Panther Re Holdings Ltd.
Brickell Bayview Investors LLC Spice Jet Limited
Brookings Economic Studies Council The Sago Mine Fund
Broomfield Hotel Investor LLC Wagon plc
Broomfield Hotel Manager, LLC Whitney Museum of American Art
Broomfield Hotel Owner JV, LLC WLR Coal Holdings LLC
Burlington Industries LLC WLR CoalQuest Holding Corp
Carlisle Finishing LLC WLR IV Loans AIV Feeder (Cayman)
Compagnie Européenne des LP
Wagons S.à r.l. WLR Panther (Offshore) Co-Invest,
Cone Foreign Trading LLC L.P.
DSS Holdings L.P. WLR Panther Co-Invest, L.P.
DSS Holding GP LTD WLR Recovery Fund L.P.
El Vedado LLC
Euro Wagon II L.P.
Euro Wagon L.P.
Euro Wagon II LTD
Euro Wagon LTD
EXCO Resources, Inc.
Fifth Street Towers Investors
LLC
Global Investment Partners I,
L.P.
Global Investment Partners II,
L.P.
Global Investment Partners III,
L.P.
Global Investment Management,
LLC
GS/WLR Master Co-Investment SLP,
L.P.
Harvard Business School, Dean's
Advisory Board
Harvard Business School Club
of New York, Inc.
Huaneng Invesco WLR Investment
Consulting Company Ltd.
IMRF Fifth Street Manager LLC
IMRF Fifth Street Member, LLC
IMRF Hotel Member, LLC
IMRF Loan Portfolio Member LLC
India Asset Recovery Associates
LLC
India Asset Recovery Fund Limited
India Asset Recovery Fund LP
India Asset Recovery GP LTD
India Asset Recovery Management
Limited
Indiana Retail Manager LLC
Indiana Retail Member LLC
International Automotive Components
Group Brazil, LLC
International Automotive Components
Group North America, LLC
International Textile Group,
Inc.
International Textile Holdings,
Inc.
Invesco Legacy Securities Feeder
Fund, LP
Invesco Legacy Securities Offshore
Feeder Fund LP (Cayman)
Invesco Mortgage Recovery Feeder
Fund, LP
Invesco Mortgage Recovery Loans
AIV LP
Invesco Mortgage Recovery Loans
Feeder Fund (Cayman) LP
Invesco Mortgage Recovery Loans
Feeder Fund LP
Invesco Mortgage Recovery Master
Fund, LP
Invesco Mortgage Recovery Master
Loans AIV LP
Invesco Mortgage Recovery Offshore
Feeder Fund, LP (Cayman)
Invesco Mortgage Recovery Master
Associates, LLC
Invesco Private Capital, Inc.
Invesco Private Capital Investments,
Inc.
Invesco SPPIF (GP) Feeder Fund
LLC
Invesco WLR IV Associates LLC
Invesco WLR Limited
Invesco WLR V Associates LLC
IPE Euro Wagon L.P.
Market Square Investors LLC
Market Square Manager LLC
Market Square Member LLC
Nano-Tex, Inc.
Navigator Holdings Ltd.
Newcoal LLC
New Textile Co.
New Textile Holdings Co.
NT Holdings I LLC
OCM, Limited
Ohizumi Manufacturing, Inc
Palm Beach Civic Association
Pan-Ross L.P.
Plascar Industry Comps. Plasticos
LTDA
Plascar Participacoes Industrials
S.A
Resi Whole Loan II LLC
Resi Whole Loan III LLC
Resi Whole Loan IV LLC
Resi Whole Loan V LLC
Resi Whole Loan VI LLC
Ross CG Associates L.P.
Ross CG Cypress Associates LLC
Ross CG GP LLC
Ross CG Management LP
Ross CG Pearl Associates, LLC
Ross Expansion Associates L.P.
Ross Expansion FLP LP
Ross Expansion GP LLC
Ross FOF LLC
Shackleford Crossings Investors,
LLC
Shackleford Crossings Member,
LLC
Sun Bancorp, Inc.
Taiyo Fund GP LLC
Taiyo Fund Management LLC
Taiyo Fund, L.P.
Talmer Bancorp, Inc.
The Committee on Capital Market
Regulation, Inc.
The Governor and Company of the
Bank of Ireland
The Japan Society, Inc.
Wilbur Ross LLC
WL Ross & Co. (India) LLC
WL Ross & Co., LLC
WL Ross (India) Private Limited
WL Ross DIP Management LLC
WL Ross GP LLC
WL Ross Group (Cayman) LTD
WL Ross Group, LP
WL Ross M&T LLC
WL Ross-Greenbrier Rail Holdings
I LLC
WL Ross-Greenbrier Rail Holdings
II LLC
WL Ross-Greenbrier Rail I LLC
WL Ross-Greenbrier Rail II LLC
WLR Acquisition Corp.
WLR AGO Co-Invest, L.P.
WLR AHM Co-Invest, L.P.
WLR Apparel Fabric Properties,
Inc.
WLR Burlington Acquisition, LLC
WLR Burlington Finance Acquisition
LLC
WLR Burlington House Acquisition,
LLC
WLR Capital Partners LLC
WLR Carlisle LLC
WLR CB AcquisitionCo, LLC
WLR China Energy Associates Ltd.
WLR China Energy CV, L.P.
WLR China Energy Infrastructure
Fund, LP
WLR Cliffside Denim LLC
WLR CLO Acquisition LLC
WLR Cone Administrative Sales
LLC
WLR Cone Foreign Trading LLC
WLR Cone Mills LLC
WLR Cone Mills Acquisition LLC
WLR Cone Mills Denim LLC
WLR Cone Mills IP Inc.
WLR Cone Mills IP LLC
WLR Cone Mills Mexico LLC
WLR Cone Mills Surplus LLC
WLR Cone Mills Real Estate LLC
WLR Denim Acquisition, LLC
WLR Euro Wagon Management Ltd
WLR GS Master Co-Investment LP
WLR IV CLPG LP (Cayman)
WLR IV Loans AIV Feeder (Cayman)
LP
WLR IV Loans AIV Feeder (Cayman)
Ltd.
WLR IV Loans AIV Feeder LP
WLR IV Loans AIV LP
WLR IV Parallel ESC LP
WLR IV PPIP AIV Feeder, LP (Cayman)
WLR IV PPIP AIV, LP
WLR IV PPIP Co-Invest Loans AIV
LP
WLR IV PPIP Co-Invest Loans Feeder
Fund (Cayman) LP
WLR IV PPIP Co-Invest Loans Feeder
Fund LP
WLR IV PPIP Co-Invest Offshore
Feeder Fund LP (Cayman)
WLR IV PPIP Co-Invest, LP
WLR IV RRH AIV, L.P.
WLR IV RRH Blocked AIV, L.P.
WLR IV RRH Feeder AIV LLC
WLR IV VM II LLC
WLR IV VM LLC
WLR Jacquard LLC
WLR LCC Holdings LLC
WLR Lefrak (Northwest) LLC
WLR Master Co-Investment GP,
LLC
WLR Master Co-Investment SLP
Associates, L.P.
WLR Master Co-Investment SLP
GP, Ltd.
WLR Nanotechnology GP LLC
WLR Nanotechnology LP LLC
WLR Recovery Associates II LLC
WLR Recovery Associates III LLC
WLR Recovery Associates IV DSS
AIV GP, Ltd.
WLR Recovery Associates IV DSS
AIV, L.P.
WLR Recovery Associates IV LLC
WLR Recovery Associates LLC
(formerly RRA)
WLR Recovery Associates V DSS
AIV GP, Ltd.
WLR Recovery Associates V DSS
AIV, L.P.
WLR Recovery Associates V LLC
WLR Recovery Fund II, L.P.
WLR Recovery Fund III AIV (Offshore)
L.P.
WLR Recovery Fund III AIV, L.P.
WLR Recovery Fund III, L.P.
WLR Recovery Fund IV DSS AIV,
L.P.
WLR Recovery Fund IV XCO AIV
I, L.P.
WLR Recovery Fund IV XCO AIV
II, L.P.
WLR Recovery Fund IV XCO AIV
III, L.P.
WLR Recovery Fund IV XCO Feeder
I, L.P.
WLR Recovery Fund IV XCO Feeder
II, L.P.
WLR Recovery Fund IV XCO Feeder
III, L.P.
WLR Recovery Fund IV, L.P.
WLR Recovery Fund L.P.
WLR Recovery Fund V DSS AIV,
L.P.
WLR Recovery Fund V, L.P.
WLR Recovery III (India) Ltd.
WLR Recovery IV/ESC (India) Limited
WLR Ross & Co. (India) LLC
WLR SBI Acquisition Co, LLC
WLR Select Associates DSS GP,
Ltd.
WLR Select Associates DSS, L.P.
WLR Select Associates LLC
WLR Select Co-Investment LP
WLR Select Co-Investment XCO
AIV LP
WLR V Parallel ESC, L.P.
WLR V RRH AIV, L.P.
WLR V RRH Blocked AIV, L.P.
WLR V RRH Feeder AIV LLC
WLR White Oak LLC
WLR Whole Loan Fund LP
WLR/GS (India) Limited
WLR/GS Master Co-Investment XCO
AIV, L.P.
WLR/IVZ Mortgage Recovery Associates
LLC
WLR/IVZ Resi NPL LLC
WLR-Greenbrier Rail Inc.
ZCS Investments LLC
Terms of appointment
The letter of appointment for Wilbur L. Ross, Jr. makes
provision for a nominal one-off appointment fee of GBP1 to be paid
on appointment. The letter contains standard provisions allowing
the Company to terminate summarily for cause, such as a serious
breach of the terms of the letter of appointment. The letter does
not contain any provision for compensation upon early termination
or any commission or profit sharing arrangements.
As at the date of this announcement and save as disclosed below,
there are no further disclosures relating to Wilbur L. Ross, Jr.
required under the AIM Rules for Companies.
The nature of Wilbur L. Ross, Jr.'s business involves investing
in distressed companies. Over many years, funds managed by WL Ross
& Co. have purchased debt and securities issued by companies
that either have or are expected to file for bankruptcy or engage
in out-of-court restructurings. Wilbur L. Ross, Jr. and WL Ross
& Co. are typically involved in the recapitalization and
recovery of these distressed companies and are not actively
involved at the time they file for bankruptcy or default on their
obligations. On two occasions, Wilbur L. Ross, Jr. was a director
of a company when it defaulted or filed for creditor
protection:
Wagon PLC ("Wagon")
Wilbur L. Ross, Jr. became a director of Wagon at the time of WL
Ross & Co.'s investment in the company in April 2006. Wagon
filed for administration in December 2008. Wagon's administration
was brought on by the global decline in car sales and the
unwillingness of certain of its investors (other than WL Ross &
Co.) to lend the company additional amounts of capital. While
Wilbur L. Ross, Jr. served as a director and Chairman of Wagon, he
was not an executive or employee of Wagon and was not involved in
day-to-day operations of the company.
Global Safety Textiles Holdings LLC ("GST")
Wilbur L. Ross, Jr. became a director of International Textile
Group at the time of WL Ross & Co.'s investment in the company
in August 2004. In 2006, International Textile Group formed Global
Safety Textiles Holdings LLC as a wholly owned subsidiary. Wilbur
L. Ross, Jr. previously served on an advisory board of GST, but he
was never an executive or employee of GST and was not involved in
day-to-day operations of GST. GST filed for bankruptcy protection
in June 2009. GST's bankruptcy was brought on by the severe
downturn in the automotive industry at the end of 2008 and
beginning of 2009. GST had the support of its biggest customer and
continued to run normally. WL Ross & Co. tried to propose a new
investment to recapitalize GST, but it was ultimately acquired by
its lenders. All debts owed by GST to any FDIC-insured depository
institution were repaid in full. International Textile Group, the
parent company, did not declare bankruptcy and remains in
operation.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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