Conversion of Securities

RNS Number : 1454P

BH Macro Limited

28 September 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)

28 September 2011

Completion of 31 August 2011 Share Conversion

 

Following the publication on 23 September 2011 of the final month-end net asset values for 31 August 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 August 2011 share conversion date:

0.596214	Sterling shares for each US Dollar share
0.688075	Euro shares for each US Dollar share
1.677250	US Dollar shares for each Sterling share
1.154049	Euro shares for each Sterling share
1.453331	US Dollar shares for each Euro share
0.866515	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:

-     358,715 new Sterling shares of no par value

and the following shares will be cancelled:

-     53,139 US Dollar shares of no par value; and

-     377,413 Euro shares of no par value

all with effect from 27 September 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 30 September 2011. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 28 September 2011.

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

-               11,950,785 Euro Shares

-               1,222,013 Euro Treasury Shares

-               31,192,084 US Dollar Shares

-               3,058,476 US Dollar Treasury Shares

-               37,074,246 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 27 September 2011, the total number of voting rights in the Company (rounded down to the whole number) is 90,211,700.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Rose Toussaint [phone]

Website:    www.bhmacro.com

 

END

 

 

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