Conversion of Securities

RNS Number : 1273J

BH Macro Limited

24 March 2010

 

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 March 2010

Cancellation of Treasury Shares and Completion of 28 February 2010 Share Conversion

The Company announces that it has cancelled 120,000 Euro treasury shares.

Following the publication on 22 March 2010 of the final month-end net asset values for 28 February 2010, the following share conversion ratios have been determined in accordance with the articles of association of the Company for the purposes of the 28 February 2010 share conversion date:

0.871105	Sterling shares for each Euro share
0.638828	Sterling shares for each US Dollar share
1.147967	Euro shares for each Sterling share
0.733438	Euro shares for each US Dollar share
1.565367	US Dollar shares for each Sterling share
1.363442	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:

-     833,185 new Sterling shares of no par value

and the following shares will be cancelled:

-     608,102 US Dollar shares of no par value

-     510,518 Euro shares of no par value

all with effect from 24 March 2010.

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 30 March 2010. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 25 March 2010.

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

-               16,294,495 Euro Shares

-               1,572,013 Euro Treasury Shares

-               39,621,842 US Dollar Shares

-               3,438,476 US Dollar Treasury Shares

-               28,051,974 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 24 March 2010, the total number of voting rights in the Company (rounded down to the whole number) is 87,695,322.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Andrew Maiden [phone]

Website:    www.bhmacro.com

 

END

 

 

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