PR Newswire
London, June 23
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
