Conversion of Securities

RNS Number : 6527P

BH Macro Limited

27 March 2009

 



BH Macro Limited (the 'Company') 

(a closed-ended investment company incorporated in Guernsey with registration number 46235) 

27 March 2009

Completion of 28 February 2009 Share Conversion

Following the publication on 26 March 2009 of the final month-end net asset values for 28 February 2009, the following share conversion ratios have been determined in accordance with the articles of association of the Company for the purposes of the 28 February 2009 share conversion date:

0.676650	Sterling shares for each US Dollar share
0.862603	Sterling shares for each Euro share
1.477870	US Dollar shares for each Sterling share
1.274856	US Dollar 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: 

-    502,333 new Sterling shares of no par value,

and the following shares will be cancelled: 

-    162,258 Euro Shares of no par value,

-    535,534 US Dollar shares of no par value,

all with effect from 30 March 2009.

Application has been made to the Financial Services Authority ('FSA') 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 April 2009. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 30 March 2009.

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

-    20,464,592 Euro Shares

-    25,000 Euro Treasury Shares

-    53,450,434 US Dollar Shares

-    340,000 US Dollar Treasury Shares; and

-    20,750,212 Sterling 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 27 March 2009, the total number of voting rights in the Company (rounded down to the whole number) is 91,642,554.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Andrew Maiden [phone]

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