Conversion of Securities (revised)

This announcement is a replacement for one released at 15.30hrs on 28 April 2017. 

The only item changed relate to the expected date of admission of the shares which has changed from 4 May to 5 May 2017
 

BH Macro Limited (the "Company")
(a closed-ended collective investment scheme established as a company with limited liability under the laws of Guernsey with registered number 46235)

Completion of 31 March 2017 Share Conversion
4 May 2017

Following the publication on 21 April 2017 of the final month-end net asset values for 31 March 2017, the following share conversion ratios have been determined in accordance with the articles of incorporation of the Company for the purposes of the 31 March 2017 share conversion date:

0.771487	Sterling shares for each US Dollar share
0.934575	Euro shares for each US Dollar share
1.296198	US Dollar shares for each Sterling share
1.211002	Euro shares for each Sterling share
1.070005	US Dollar shares for each Euro share
0.825763	Sterling shares for each Euro share

On the basis of aggregate applications received and using the conversion ratios listed above, the following shares will be issued:

-        38,441 GBP Shares of no par value

and the following shares will be cancelled:

-       41,184 US Dollar Shares of no par value
-        8,077 Euro Shares of no par value

all with effect from 28 April 2017

Application has been made to the Financial Conduct Authority (“FCA”) for the new shares to be admitted to the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange’s main market for listed securities.

Admission is expected to occur on 5 May 2017 Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 5 May 2017.

Following issue and cancellation of the relevant shares, the total number of shares in issue in each class will be as follows:

-                   934,609        Euro Shares
-                   91,854          Euro Treasury Shares
-                   3,301,629     US Dollar Shares
-                   331,228        US Dollar Treasury Shares
-                   14,638,752   Sterling Shares
-                   1,450,652     Sterling Treasury Shares

The number of votes each share in the Company is entitled to on a poll at any general meeting of the Company was published by the Company on 9 March 2007 and will not change as a result of the conversions. These are:

Euro Share 1
US Dollar Share             0.7606        
Sterling Share                1.4710

From 28 April 2017, the total number of voting rights in the Company (rounded down to the whole number) is 22,501,737

Enquiries:
Website:   www.bhmacro.com

Northern Trust International Fund Administration Services (Guernsey) Limited
Sharon A Williams
Tel:  [phone]