BOUSSARD AND GAVAUDAN HOLDING LIMITED (GBP) - B...

Boussard & Gavaudan Holding Limited
a closed-ended investment company incorporated with limited liability under the
                laws of Guernsey with registration number 45582




                              Result of conversion

   Boussard & Gavaudan Holding Limited ("B&G Holding" or the "Company") today
     announces the result of the facility to convert existing holdings of:

  * Euro Shares in the Company ("Euro Shares") into Sterling Shares in the
    Company (the "Sterling Shares"); and
  * Sterling Shares into Euro Shares,


(together,  the  "Conversion")  for  the 30 November 2011 conversion calculation
date (the " November Conversion Calculation Date").

Conversion requests

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

                               2,157 Euro Shares
                            437,821 Sterling Shares

Conversion ratios

+--------------------------+--------------------------+------------------------+
| The net asset values per |    The spot currency     |  On the basis of the   |
| share as at the November |conversion rates as at the| above, the conversion  |
|  Conversion Calculation  |   November Conversion    | ratios are as follows: |
|        Date were:        |  Calculation Date were:  |                        |
+--------------------------+--------------------------+------------------------+
|Euro Shares: € 13.4944    |Euro GBP: 0.856210        |0.9406450 Sterling      |
|                          |                          |Shares for every one    |
|                          |                          |Euro Share              |
+--------------------------+--------------------------+------------------------+
|Sterling Shares: £ 12.2831|Euro GBP: 0.856210        |1.0631000 Euro Shares   |
|                          |                          |for every one Sterling  |
|                          |                          |Share                   |
+--------------------------+--------------------------+------------------------+

As  a result of the  Conversion, the number of  Euro Shares will be increased by
463,290 shares.
As  a result of the Conversion, the number of Sterling Shares will be reduced by
435,793 shares.

Results of conversion

With  effect from Conversion, the issued share capital of B&G Holding was on 30
November 2011.

                             42,280,977 Euro Shares
                           1,496,750 Sterling Shares

Next conversion

The  next conversion  calculation date  will be  30 November 2012 (the "November
Conversion  Calculation Date").   Shareholders wishing  to convert between share
classes  should  complete  the  appropriate  conversion  request  form, which is
available from the Company's website www.bgholdingltd.com.

14 December 2011


B&G Asset Management   [phone]
Emmanuel Gavaudan (London) [phone]
Manuel Kalbreier (London) [phone]



Final result of conversion: 


http://hugin.info/139558/R/1571416/488783.pdf




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Source: BOUSSARD AND GAVAUDAN HOLDING LIMITED (GBP) via Thomson Reuters ONE

[HUG#1571416]