Partial Return of Capital

RNS Number : 3240W

BH Macro Limited

24 January 2013

 



BH MACRO LIMITED (the "Company")

(a closed-ended investment company incorporated in Guernsey

with registration number 46235)

Partial Return of Capital

The Company announces that it will offer to return to shareholders an amount equal to 100 per cent. of the net asset value growth during the 2012 calendar year for each class of its shares (less certain costs and provisions as described further below) pursuant to a partial capital return.  The approximate 2012 NAV growth for each class of shares is:  Euro class €5.2 million (3.63%), Sterling class £32.7 million (3.94%) and US Dollar class $22.1 million (3.86%). 

The partial capital return will allow shareholders to elect to have shares redeemed at a price equal to the net asset value for the relevant class of shares as at 31 December 2012, discounted by 4 per cent.  This discount is intended to take account of the costs of the return and a provision in respect of payments that may be due to the Company's manager in the event of termination of the Company or any share class or redemptions of shares which reduce the Company's NAV below its level at launch, so that shareholders who do not participate in the partial capital return are not disadvantaged.

The record time and date for participation in the partial capital return will be 5.00 p.m.(GMT) on 31 January 2013. 

Shareholders who elect to convert shares between currency classes in respect of the 31 January 2013 share conversion date pursuant to the Company's share conversion provisions will not be eligible to participate in the partial capital return in respect of those shares. 

Further details regarding the partial capital return will be included in a circular to be sent to shareholders on or around 8 February 2013.

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Enquiries:

Richard Murray, Brevan Howard           [phone]

Date: 24 January 2013

 

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