result of conversion

Result of conversion

Boussard & Gavaudan Holding Limited ("B&G Holding" or the  "Company")
today announces  the  result  of the  facility  to  convert  existing
holdings (the  "Conversion") of  Euro shares  in the  Company  ("Euro
Shares") into Sterling shares in the Company (the "Sterling  Shares")
and, of Sterling Shares  into Euro Shares in  the Company for the  30
June  2009  conversion   calculation  date   (the  "June   Conversion
Calculation Date").

Conversion

The aggregate number  of Shares  for which  conversion request  forms
were received for the June Conversion Calculation Date was:

                         40,500  Euro shares
                      189,784  Sterling shares

The Company intends to announce the conversion ratio when it  becomes
available following the publication of  the final net asset value  of
the Euro  and  Sterling  Shares  referable  to  the  June  Conversion
Calculation Date.

Anticipated timetable for Conversion

Completion of  the  Conversion  is  expected to  take  place  on  the
following indicative timetable:

Announcement                                                       of

            Around 27 July 2009
conversion
ratio


Conversion
                                               Around 29 July 2009


26 June 2009


B&G Asset Management                       [phone]
Emmanuel Gavaudan

The Company  is  established  as a  closed-ended  investment  company
domiciled  in  Guernsey.  The  Company  has  received  the  necessary
approval of the Guernsey Financial Services Commission and the States
of Guernsey Policy Council. The Company is  registered with the Dutch
Authority for the Financial Markets as a collective investment scheme
pursuant to  article  2:73 in  conjunction  with 2:66  of  the  Dutch
Financial Supervision  Act  (Wet  op het  financieel  toezicht).  The
company is  listed on  Euronext  Amsterdam and  on the  London  Stock
Exchange ("LSE").

This announcement  is for  information purposes  only and  is not  an
offer  to  invest.  All  investments   are  subject  to  risk.   Past
performance is no guarantee of future returns. Prospective  investors
are  advised  to  seek  expert   legal,  financial,  tax  and   other
professional advice before making any investment decision. The  value
of investments may  fluctuate. Results  achieved in the  past are  no
guarantee of future results.

This is not an offer  to sell or a solicitation  of any offer to  buy
any securities in  the United  States or in  any other  jurisdiction.
This announcement is not intended to and does not constitute, or form
part of, any offer  or invitation to purchase  any securities or  the
solicitation of any vote or  approval in any jurisdiction, nor  shall
there be any sale, issuance or transfer of the securities referred to
in  this  announcement  in  any  jurisdiction  in  contravention   of
applicable law.

Neither the Company nor Sark Fund Limited have been, and neither will
be, registered  under  the US  Investment  Company Act  of  1940,  as
amended (the "Investment Company  Act").  In addition the  securities
referenced in  this  announcement  have  not been  and  will  not  be
registered under  the US  Securities  Act of  1933, as  amended  (the
"Securities Act").  Consequently  any  such  securities  may  not  be
offered, sold or  otherwise transferred within  the United States  or
to, or for the account or benefit of, US persons except in accordance
with  the  Securities  Act  or  an  exemption  therefrom  and   under
circumstances which ill not require the issuer of such securities  to
register under the Investment Company Act. No public offering of  any
securities will be made in the United States.




http://hugin.info/139013/R/1325468/311737.pdf


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.