Conversion of Securities

RNS Number : 6901M

BH Macro Limited

28 August 2013

 



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)

28 August 2013

Completion of 31 July 2013 Share Conversion

Following the publication on 23 August 2013 of the final month-end net asset values for 31 July 2013, the following share conversion ratios have been determined in accordance with the articles of association of the Company for the purposes of the 31 July 2013 share conversion date:

0.636474	Sterling shares for each US Dollar share
0.747607	Euro shares for each US Dollar share
1.571156	US Dollar shares for each Sterling share
1.174514	Euro shares for each Sterling share
1.337601	US Dollar shares for each Euro share
0.851416	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:

-     507,067 Sterling shares of no par value; and

-     27,845 Euro shares of no par value

and the following shares will be cancelled:

-     833,928 US Dollar shares of no par value

all with effect from 28 August 2013.

Application has been made to the Financial Conduct Authority ("FCA") 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 September 2013. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 2 September 2013.

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

-               6,867,659 Euro Shares

-               522,013 Euro Treasury Shares

-               26,912,542 US Dollar Shares

-               2,208,476 US Dollar Treasury Shares

-               42,369,422 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 23 August 2013, the total number of voting rights in the Company (rounded down to the whole number) is 89,662,757.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Rose Toussaint [phone]

Website:    www.bhmacro.com

 

END

 

 

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