Announcement of Tender Price

RNS Number : 4601R

BH Macro Limited

30 April 2009

 



30 April 2009

Not for release, publication or distribution, in whole or in part, in or into the United States, Canada, Australia or Japan

BH Macro Limited (the 'Company')

Tender Offer - Announcement of Tender Price 

The Company announces that the tender price (the 'Tender Price') for each of the Company's sterling, euro and US dollar share classes for the tender offer and accompanying matching purchase facility described in the circular of the Company dated 9 March 2009 (the 'Tender Offer' and the 'Matching Purchase Facility') are as follows:  

Euro shares - €15.2256 per share

US dollar shares - US$15.1776 per share

Sterling shares - £15.6288 per share

The Tender Price for each class of shares is 96 per cent. of the net asset value per share of the relevant class as at 31 March 2009.  

Enquiries:  

Brevan Howard:

Stephen Stonberg / Paul Dentskevich                      0207 022 6200  

J.P. Morgan Cazenove:

Angus Gordon Lennox / William Simmonds             0207 588 2828

Important notices

J.P. Morgan Cazenove Limited, which is regulated by the Financial Services Authority, is acting for the Company and no-one else in connection with the Tender Offer and the Matching Purchase Facility and will not be responsible to anyone other than the Company for providing the protections afforded to clients of J.P. Morgan Cazenove Limited or for providing advice in relation to the proposals described in this announcement.  

This announcement does not constitute an offer or solicitation to acquire or sell any securities in the Company. The Tender Offer and Matching Purchase Facility are not being extended into any jurisdiction where to do so may be unlawful or which may otherwise subject the Company or any other person to any unduly onerous obligation.  

This announcement is not for distribution in or into the United States, Canada, Australia or Japan or any other jurisdiction in which its distribution may be unlawful. This announcement is not an offer of securities for sale in the United States or elsewhere. The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'Securities Act'), and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration.  The Company has not been and will not be registered under the US Investment Company Act of 1940, as amended, and investors are not entitled to the benefits of that Act. There has not been and there will be no public offering of the Company's securities in the United States.

In respect of the Tender Offer and the Matching Purchase Facility, the Company is not required to obtain a licence as a collective investment scheme pursuant to the Dutch Financial Supervision Act (Wet Financieel Toezicht) and the Company is not subject to supervision by the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten).

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