Conversion of Securities

RNS Number : 1566I

BH Macro Limited

27 May 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 30 April 2014 Share Conversion

27 May 2014

 

Following the publication on 22 May 2014 of the final month-end net asset values for 30 April 2014, the following share conversion ratios have been determined in accordance with the articles of incorporation of the Company for the purposes of the 30 April 2014 share conversion date:

0.572252	Sterling shares for each US Dollar share
0.716042	Euro shares for each US Dollar share
1.747481	US Dollar shares for each Sterling share
1.251206	Euro shares for each Sterling share
1.396567	US Dollar shares for each Euro share
0.799229	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:

-     43,007 Sterling shares of no par value;

and the following shares will be cancelled:

-     75,155 US Dollar shares of no par value

all with effect from 27 May 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 2 June 2014. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 2 June 2014.

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

-               5,947,425 Euro Shares

-               577,330 Euro Treasury Shares

-               22,524,813 US Dollar Shares

-               2,108,029 US Dollar Treasury Shares

-               42,628,349 Sterling Shares; and

-               2,654,466 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 May 2014, the total number of voting rights in the Company (rounded down to the whole number) is 85,786,099.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Andrew Maiden

Tel:  [phone]

Website:    www.bhmacro.com

 

END

 

 

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