Conversion of Securities - Replacement

RNS Number : 3831L

BH Macro Limited

29 July 2011

 



BH Macro Limited (the "Company")

(a closed-ended investment scheme established as a company with limited liability under the laws of Guernsey with registered number 46235)

29 July 2011

Completion of 30 June 2011 Share Conversion

 

The following amendment has been made to the 'Share Conversion' announcement released on 28 July 2011 at 16:00 hrs under RNS No 3035L.

 

The month in which the shares will be issued and cancelled is "22 July 2011".  The announcement released yesterday stated 22 June 2011.  All other details remain unchanged.

Following the publication on 22 July 2011 of the final month-end net asset values for 30 June 2011, the following share conversion ratios have been determined in accordance with the articles of association of the Company for the purposes of the 30 June 2011 share conversion date:

0.604448	Sterling shares for each US Dollar share
0.684831	Euro shares for each US Dollar share
1.654403	US Dollar shares for each Sterling share
1.132776	Euro shares for each Sterling share
1.460214	US Dollar shares for each Euro share
0.882787	Sterling shares for each Euro share

On the basis of aggregate applications received and using the conversion ratios listed above, the following shares will be issued:

-     84,712 new Sterling shares of no par value

and the following shares will be cancelled:

-     5,510 US Dollar shares of no par value; and

-     92,188 Euro shares of no par value

all with effect from 22 July 2011.

Application has been made to the Financial Services Authority ("FSA") for the new shares to be admitted to the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange's main market for listed securities.

Admission is expected to occur on 2 August 2011. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 29 July 2011.

Following issue and cancellation of the relevant shares, the total number of shares in issue in each class will be as follows:

-               12,675,497 Euro Shares

-               1,222,013 Euro Treasury Shares

-               31,250,176 US Dollar Shares

-               3,438,476 US Dollar Treasury Shares

-               36,415,307 Sterling Shares; and

-               877,595 Sterling Treasury Shares

The number of votes each share in the Company is entitled to on a poll at any general meeting of the Company was published by the Company on 9 March 2007 and will not change as a result of the conversions. These are:

Euro Share             1

US Dollar Share    0.7606    

Sterling Share       1.4710

From 28 July 2011, the total number of voting rights in the Company (rounded down to the whole number) is 90,011,297.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Rose Toussaint [phone]

Website:    www.bhmacro.com

 

END

 

 

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