Tender Offer - Excess of Basi

RNS Number : 8530P

BH Macro Limited

31 March 2009

 

31 March 2009

Not for release, publication or distribution, in whole or in part, in or into the United States, Canada, Australia or Japan

BH Macro Limited (the 'Company')

Tender Offer - acceptance of tender elections in excess of Basic Entitlement 

Further to the announcement made yesterday with respect to the results of the extraordinary general meeting of the Company and the tender offer and matching purchase facility, the Company announces the following:

Shareholders tendering Euro shares in excess of their basic entitlement will have approximately 11.95 per cent of the excess satisfied. 

Shareholders tendering US dollar shares in excess of their basic entitlement will have approximately 5.67 per cent of the excess satisfied. 

Shareholders tendering Sterling shares in excess of their basic entitlement will have approximately 100 per cent of the excess satisfied. 

The tender price for each class of share will be determined by reference to the net asset value of that class of share as at 31 March 2009 and is expected to be announced on 30 April 2009.  

Enquiries:  

Brevan Howard:

Stephen Stonberg / Paul Dentskevich                      0207 022 6200  

JPMorgan Cazenove:

Angus Gordon Lennox / William Simmonds             0207 588 2828

Important notices

JPMorgan Cazenove Limited, which is regulated by the Financial Services Authority, is acting for the Company and no-one else in connection with the tender offer and the matching purchase facility and will not be responsible to anyone other than the Company for providing the protections afforded to clients of JPMorgan Cazenove Limited or for providing advice in relation to the arrangements described in this announcement.  

This announcement does not constitute an offer or solicitation to acquire or sell any securities in the Company.  The tender offer and matching purchase facility are not being extended into any jurisdiction where to do so may be unlawful or which may otherwise subject the Company or any other person to any unduly onerous obligation. 

This announcement is not for distribution in or into the United States, Canada, Australia or Japan or any other jurisdiction in which its distribution may be unlawful. This announcement is not an offer of securities for sale in the United States or elsewhere.  The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'Securities Act'), and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration.  The Company has not been and will not be registered under the US Investment Company Act of 1940, as amended, and investors are not entitled to the benefits of that Act.  There has not been and there will be no public offering of the Company's securities in the United States.

In respect of the tender offer and the matching purchase facility, the Company is not required to obtain a licence as a collective investment scheme pursuant to the Dutch Financial Supervision Act (Wet Financieel Toezicht) and the Company is not subject to supervision by the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten).

 

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