BH Macro Limited - Shareholder Update
PR Newswire
London, February 16
BH MACRO LIMITED (the "Company")
(a closed-ended investment company incorporated in Guernsey with registration number 46235)
LEI: 549300ZOFF0Z2CM87C29
THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION
16 February 2021
Shareholder update
Further to the Company's announcement on 22 January 2021, the Company has agreed with Brevan Howard Capital Management LP (the "Manager") that the Company will put forward to shareholders the changes to its management agreement requested by the Manager in its letter dated 21 January 2021 (the "Manager's Proposed Changes").
The Company has also agreed with the Manager that if shareholders approve the Manager's Proposed Changes, the Company will make a tender offer to shareholders to acquire up to 40% of the Company's shares at a price equal to 98% of the net asset value per share at the time of completion of the tender offer less an amount per share in respect of the costs of the tender offer.
The Company will hold an extraordinary general meeting at which the Manager's Proposed Changes are proposed to shareholders as soon as possible next month (March 2021) and intends to publish a circular including a notice convening the meeting once regulatory approval is obtained. The Manager has agreed with the Company that the Manager will not serve notice of termination of the management agreement prior to the extraordinary general meeting being held.
Enquiries
Richard Horlick
Chairman
William Simmonds
J.P. Morgan Cazenove
0207 742 4000
