Conversion of Securities

RNS Number : 4808R

BH Macro Limited

23 August 2010

 



BH Macro Limited (the "Company")

(a closed-ended investment scheme established as a company with limited liability under the laws of Guernsey with registered number 46235)

23 August 2010

Completion of 31 July 2010 Share Conversion

Following the publication on 23 August 2010 of the final month-end net asset values for 31 July 2010, the following share conversion ratios have been determined in accordance with the articles of association of the Company for the purposes of the 31 July 2010 share conversion date:

0.811057	Sterling shares for each Euro share
0.619265	Sterling shares for each US Dollar share
1.232959	Euro shares for each Sterling share
0.763253	Euro shares for each US Dollar share
1.614819	US Dollar shares for each Sterling share
1.310182	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:

-     745,644 new Sterling shares of no par value; and

-     19,721 new Euro shares of no par value

and the following shares will be cancelled:

-     1,229,921 US Dollar shares of no par value

all with effect from 23 August 2010.

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 26 August 2010. Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 24 August 2010.

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

-               15,683,759 Euro Shares

-               1,572,013 Euro Treasury Shares

-               34,272,281 US Dollar Shares

-               3,438,476 US Dollar Treasury Shares

-               32,005,861 Sterling Shares; and

-               877,595 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 23 August 2010, the total number of voting rights in the Company (rounded down to the whole number) is 88,831,877.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

Andrew Maiden [phone]

Website:    www.bhmacro.com

 

END

 

 

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