Shareholder Update

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

LEI: 549300ZOFF0Z2CM87C29

29 April 2021

Shareholder update

Further to the announcement on 12 April 2021 and today’s announcement by BH Global Limited (“BHGG”), the Company confirms that it is in discussions with BHGG regarding a possible combination of the two companies. 

The combined entity would retain the Company’s investment policy as a feeder fund into Brevan Howard Master Fund Limited and it is intended that the combination should be NAV accretive to continuing shareholders in the combined entity.

There can be no certainty at this stage whether or on what basis the combination will proceed.  A further announcement will be made in due course.

For the avoidance of doubt, neither the Company nor BHM regards their discussions as giving rise to any obligation or requirement under the Takeover Code, nor do they intend for any combination to take the form of a transaction to which the Takeover Code applies.

Enquiries
Richard Horlick
Chairman

William Simmonds
J.P. Morgan Cazenove
020 7742 4000

Edward Berry / Josh Sarson
FTI Consulting
07703 330 199 / 0755 499 1072