Partial Return of Capital

RNS Number : 5575X

BH Macro Limited

16 February 2012

 



BH MACRO LIMITED (the "Company")
(a closed-ended investment company incorporated in Guernsey with registration number 46235)

Partial Return of Capital

In 2011 the Net Asset Value of the Company's USD share class appreciated 12.04%, the Euro class appreciated 12.84% and the Sterling class appreciated 12.34%. The Company announces that it intends to offer a partial return of capital to the shareholders of each class of approximately 40% of these 2011 NAV returns.

The return of capital will be offered pursuant to the annual redemption offer powers set out in the Company's Articles of Association. Shareholders may elect to redeem any amount of shares held. However elections will be satisfied on a pro rata basis if the offer is oversubscribed. The capital returned in each class is expected to be offered at a price that is at approximately a 4% discount to the NAV per share of the relevant class as at the record date of the offer.

The return of capital will occur in conjunction with the Company's Annual General Meeting which is expected to occur in June 2012. Shareholders will be able to decide at that time whether to elect to participate in the capital return on the basis of the prevailing market conditions.  Currently, the Company's shares are trading at a premium to NAV. Further details will be sent to shareholders with the Company's Annual General Meeting papers.

 

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