Conversion of Securities

RNS Number : 7830Y

BH Macro Limited

29 January 2014

 



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)

Completion of 31 December 2013 Share Conversion

29 January 2014

 

Following the publication on 24 January 2014 of the final month-end net asset values for 31 December 2013, the following share conversion ratios have been determined in accordance with the articles of incorporation of the Company for the purposes of the 31 December 2013 share conversion date:

0.584432	Sterling shares for each US Dollar share
0.719642	Euro shares for each US Dollar share
1.711062	US Dollar shares for each Sterling share
1.231283	Euro shares for each Sterling share
1.389580	US Dollar shares for each Euro share
0.812161	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:

-     333,998 Sterling shares of no par value

and the following shares will be cancelled:

-     198,190 Euro shares of no par value; and

-     296,077 US Dollar shares of no par value

all with effect from 29 January 2014.

Application has been 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 4 February 2014. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 4 February 2014.

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

-               6,594,451 Euro Shares

-               522,013 Euro Treasury Shares

-               24,671,684 US Dollar Shares

-               2,208,476 US Dollar Treasury Shares

-               43,936,669 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 29 January 2014, the total number of voting rights in the Company (rounded down to the whole number) is 89,990,574.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Andrew Maiden

Tel:  [phone]

Website:    www.bhmacro.com

 

END

 

 

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