Conversion of Securities

RNS Number : 4482R

BH Macro Limited

30 April 2009

 



BH Macro Limited (the 'Company') 

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

30 April 2009

Completion of 31 March 2009 Share Conversion

Following the publication on 30 April 2009 of the final month-end net asset values for 31 March 2009, the following share conversion ratios have been determined in accordance with the articles of association of the Company for the purposes of the 31 March 2009 share conversion date:

0.679160	Sterling shares for each US Dollar share
0.901371	Sterling shares for each Euro share
1.109421	Euro shares for each Sterling share
0.753532	Euro shares for each US Dollar share
1.472408	US Dollar shares for each Sterling share
1.327084	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: 

       -            190,568 new Sterling shares of no par value,

and the following shares will be cancelled: 

-           171,242 Euro Shares of no par value,

-           53,331 US Dollar shares of no par value,

all with effect from 30 April 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 6 May 2009. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 30 April 2009.

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

-    20,293,350 Euro Shares

-    25,000 Euro Treasury Shares

-    53,397,103 US Dollar Shares

-    340,000 US Dollar Treasury Shares; and

-    20,940,780 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 30 April 2009, the total number of voting rights in the Company (rounded down to the whole number) is 91,711,074.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Andrew Maiden [phone]

 

END

 

 

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