Conversion of Securities

RNS Number : 6989F

BH Macro Limited

28 April 2014

 



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)

Completion of 31 March 2014 Share Conversion

28 April 2014

 

Following the publication on 24 April 2014 of the final month-end net asset values for 31 March 2014, the following share conversion ratios have been determined in accordance with the articles of incorporation of the Company for the purposes of the 31 March 2014 share conversion date:

0.578259	Sterling shares for each US Dollar share
0.721400	Euro shares for each US Dollar share
1.729330	US Dollar shares for each Sterling share
1.247204	Euro shares for each Sterling share
1.386193	US Dollar shares for each Euro share
0.801794	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:

-     58,008 Sterling shares of no par value; and

-     79,002 Euro shares of no par value

and the following shares will be cancelled:

-     209,860 US Dollar shares of no par value

all with effect from 28 April 2014.

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 May 2014. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 2 May 2014.

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

-               6,136,365 Euro Shares

-               638,390 Euro Treasury Shares

-               23,072,191 US Dollar Shares

-               2,135,806 US Dollar Treasury Shares

-               43,116,121 Sterling Shares; and

-               2,123,687 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 April 2014, the total number of voting rights in the Company (rounded down to the whole number) is 89,108,887.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Andrew Maiden

Tel:  [phone]

Website:    www.bhmacro.com

 

END

 

 

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