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