Conversion of Securities

RNS Number : 4371H

BH Macro Limited

27 May 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)

27 May 2011

Completion of 28 April 2011 Share Conversion

Following the publication on 25 May 2011 of the final month-end net asset values for 28 April 2011, the following share conversion ratios have been determined in accordance with the articles of association of the Company for the purposes of the 28 April 2011 share conversion date:

0.867942	Sterling shares for each Euro share
0.584088	Sterling shares for each US Dollar share
1.152150	Euro shares for each Sterling share
0.672894	Euro shares for each US Dollar share
1.712069	US Dollar shares for each Sterling share
1.486119	US Dollar 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:

-     165,472 new Sterling shares of no par value

and the following shares will be cancelled:

-     111,761 US Dollar shares of no par value; and

-     115,442 Euro shares of no par value

all with effect from 27 May 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 June 2011. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 28 May 2011.

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

-               13,075,333 Euro Shares

-               1,222,013 Euro Treasury Shares

-               31,469,594 US Dollar Shares

-               3,438,476 US Dollar Treasury Shares

-               35,941,433 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 27 May 2011, the total number of voting rights in the Company (rounded down to the whole number) is 89,880,954.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Rose Toussaint [phone]

Website:    www.bhmacro.com

 

END

 

 

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