Conversion of Securities

RNS Number : 7712K

BH Macro Limited

24 December 2008

 

BH Macro Limited (the 'Company')

24 December 2008

Completion of 28 November 2008 Share Conversion

Following the publication on 23 December 2008 of the final month-end net asset values for November 2008, the following share conversion ratios have been determined in accordance with the articles of association of the Company for the purposes of the 28 November 2008 share conversion date:

1.238474	Euro shares for each Sterling share
1.572312	US Dollar shares for each Sterling share
0.636006	Sterling shares for each US Dollar share
0.807445	Sterling shares for each Euro share
1.269581	USD 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: 

    -   1,171,787 new Sterling shares of no par value,
        and the following shares will be cancelled: 

    -   878,761 Euro Shares of no par value,

    -   726,765 new US dollar shares of no par value,

all with effect from 31 December 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 December 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:

-    21,470,815 Euro Shares

-    54,992,632 US Dollar Shares; and

-    19,075,361 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. These are:

Euro Share	1
US Dollar Share	0.7606
Sterling Share	1.4710

On the basis of these ratios, from 31 December 2008, the total number of voting rights in the Company (rounded down to the nearest whole number) is 91,358,066.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Andrew Maiden:               [phone]

 

END

 

 

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