Conversion of Securities

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)

LEI: 549300ZOFF0Z2CM87C29
Completion of 30 November 2023 Share Conversion
3 January 2024

Classified Regulated Information, under DTR 6 Annex 1 section 2.5

Following the publication on 27 December 2023 of the final month-end net asset values for 30 November  2023, the following share conversion ratios have been determined in accordance with the articles of incorporation of the Company for the purposes of the 30 November 2023 share conversion date:

0.823807	Sterling shares for each US Dollar share
1.213876	US Dollar shares for each Sterling share

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

• 1,481 Sterling Shares of no par value

and the following shares will be cancelled:

• 1,800 US Dollar Shares of no par value

all with effect from 3 January 2024.

Application will be 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 or about 11 January 2024. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on or about 11 January 2024.

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

-              29,854,672           US Dollar Shares

-              0                            US Dollar Treasury Shares

-              371,771,829         Sterling Shares

-              1,758,078             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:

US Dollar Share  0.7606  

Sterling Share      1.4710

From 3 January 2024, the total number of voting rights in the Company (rounded up to the whole number) is 569,583,824.

Website:    www.bhmacro.com

Enquiries:

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

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