BH Macro Limited May Share Conversion & Closure of Euro Share Class
June 23 2017 - 11:23AM
UK Regulatory
TIDMBHMG TIDMBHME TIDMBHMU
BH Macro Limited (the "Company")
(a closed-ended collective investment scheme established as a company with
limited liability under the laws of Guernsey with registered number 46235)
Completion of 31 May 2017 Share Conversion
& Closure of Euro Share Class
23 June 2017
Following the publication on 15 June 2017 of the final month-end net asset
values for 31 May 2017, the following share conversion ratios have been
determined in accordance with the articles of incorporation of the Company for
the purposes of the 31 May 2017 share conversion date:
0.775984 Sterling shares for each US
Dollar share
1.288687 US Dollar shares for each
Sterling share
1.091766 US Dollar shares for each Euro
share
0.847184 Sterling shares for each Euro
share
On the basis of the 31 May 2017 Net Asset Values, the net asset value of the
Euro share class is lower than US$25 million (on the basis of the prevailing US
Dollar/Euro exchange rate as at 31 May 2017). Accordingly, as previously
announced by the Company on 3 May 2017, the Company has determined that all
remaining shares in the Euro share class will be converted into Sterling shares
as the Sterling/Euro share conversion ratio with effect from 29 June 2017 and
all Euro shares held by the Company in treasury will be cancelled on that
date. The Euro share class will then close and its listing will be cancelled.
On the basis of aggregate applications received, and the conversion of the Euro
Shares, and using the conversion ratios listed above, the following shares will
be issued:
* 757,968 GBP Shares of no par value
and the following shares will be cancelled:
* 57,829 US Dollar Shares of no par value
* 841,725 Euro Shares of no par value
* 91,854 Euro Shares held in treasury
all with effect from 29 June 2017
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 or about 28 June 2017 Shareholder CREST
accounts for converting shareholders are expected to be updated by 5.00pm on or
about 29 June 2017.
Following issue and cancellation of the relevant shares, the total number of
shares in issue in each class will be as follows:
- 2,849,663 US Dollar Shares
- 331,228 US Dollar Treasury Shares
- 13,995,456 Sterling Shares
- 1,450,652 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:
US Dollar Share 0.7606
Sterling Share 1.4710
From 29 June 2017, the total number of voting rights in the Company (rounded
down to the whole number) is 22,754,769
Enquiries:
Website: www.bhmacro.com
Northern Trust International Fund Administration Services (Guernsey) Limited
Sharon A Williams
Tel: +44 (0)1481 745436
END
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