Conversion of Securities

RNS Number : 5368U

BH Macro Limited

25 June 2009

 



BH Macro Limited (the 'Company') 

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

25 June 2009

Completion of 31 May 2009 Share Conversion

Following the publication on 23 June 2009 of the final month-end net asset values for 31 May 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 May 2009 share conversion date:

0.852333	Sterling shares for each Euro share
0.601713	Sterling shares for each US Dollar share
0.705671	Euro shares for US Dollar share

On the basis of aggregate applications received and using the conversion ratios listed above, the following shares will be issued: 

        -    885,917 new Sterling shares of no par value,

        -    43,715 new Euro shares of no par value,

and the following shares will be cancelled: 

        -    1,534,292 US Dollar shares of no par value,

all with effect from 25 June 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 30 June 2009. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 30 June 2009.

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

-    18,758,833 Euro Shares

-    1,572,013 Euro Treasury Shares

-    47,232,753 US Dollar Shares

-    4,388,476 US Dollar Treasury Shares

-    21,208,841 Sterling Shares; and

-    1,027,595 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:

Euro Share             1

US Dollar Share     0.7606    

Sterling Share        1.4710

From 25 June 2009, the total number of voting rights in the Company (rounded down to the whole number) is 85,882,270.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Andrew Maiden [phone]

Website:    www.bhmacro.com

 

END

 

 

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