Conversion of Securities

RNS Number : 1040A

BH Macro Limited

29 July 2008

 



BH Macro Limited (the 'Company')

29 July 2008

Completion of 30 June 2008 Share Conversion

Following the publication on 25 July 2008 of the final month-end net asset values for June 2008, 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 2008 share conversion date:

2.0195688	US Dollar shares for each Sterling share
1.5645040	US Dollar shares for each Euro share
0.6391802	Euro shares for each US Dollar share
1.2908433	Euro shares for each Sterling share
0.4951552	Sterling shares for each US Dollar share
0.7746874	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: 

• 1,171,644 new Sterling shares of no par value,

• 870,145 new US dollar shares of no par value,

and the following shares will be cancelled: 

• 2,068,588 Euro Shares of no par value,

all with effect from 31 July 2008.

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 31 July 2008 and shareholder CREST accounts for converting shareholders are expected be updated at 8am on that date.

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

• 25,620,615 Euro Shares

• 53,899,253 US Dollar Shares; and

• 16,357,573 Sterling 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. From 31 July 2008, the total number voting rights in the Company is 90,678,376.71.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Harry Rouillard 44 (0)1481 745315

 

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