Conversion of Securities

RNS Number : 8776B

BH Macro Limited

25 February 2011

 



BH Macro Limited (the "Company")

(a closed-ended investment scheme established as a company with limited liability under the laws of Guernsey with registered number 46235)

24 February 2011

Completion of 31 January 2011 Share Conversion and Cancellation of Treasury Shares

Following the publication on 23 February 2011 of the final month-end net asset values for 31 January 2011, the following share conversion ratios have been determined in accordance with the articles of association of the Company for the purposes of the 31 January 2011 share conversion date:

0.833393	Sterling shares for each Euro share
0.606317	Sterling shares for each US Dollar share
1.199914	Euro shares for each Sterling share
0.727621	Euro shares for each US Dollar share
1.649302	US Dollar shares for each Sterling share
1.374342	US Dollar 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:

-     944,334 new Sterling shares of no par value

and the following shares will be cancelled:

-     972,669 new Euro shares of no par value; and

-     220,546 US Dollar shares of no par value

-     350,000 Euro Treasury Shares (cancellation of excess shares to comply with Guernsey Law limits)

all with effect from 24 February 2011.

Application has been made to the Financial Services Authority ("FSA") 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 2 March 2011. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 2 March 2011.

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

-               13,617,458 Euro Shares

-               1,222,013 Euro Treasury Shares

-               31,388,664 US Dollar Shares

-               3,438,476 US Dollar Treasury Shares

-               35,534,330 Sterling Shares; and

-               877,595 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 25 February 2011, the total number of voting rights in the Company (rounded down to the whole number) is 89,762,675.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Rose Toussaint [phone]

Website:    www.bhmacro.com

 

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