Proposed closure of Euro share class
BH Macro Limited (the "Company")
(an authorised closed-ended collective investment scheme established as a company with limited liability under the laws of Guernsey with registration number 46235)
3 May 2017
Proposed closure of Euro share class and cessation of conversions into Euro shares
The Company notes that, following the tender offer launched by the Company on 27 January 2017 (the “Tender Offerâ€), the net asset value of the Euro share class will most probably be below the equivalent of US$25 million at the Company’s next net asset value calculation date on 31 May 2017.
Accordingly, as stated in the shareholder circular for the Tender Offer, the Company intends to convert the remaining Euro shares into shares of the Company’s largest share class following the Tender Offer, being the Sterling shares.
The conversion of the Euro shares into Sterling shares will take place following publication of the final 31 May 2017 net asset values in June 2017 calculated by reference to the respective net asset values per share of the Euro and Sterling shares as at 31 May 2017. The Euro share class will immediately close following the conversion.
Holders of the remaining Euro shares who would prefer to receive US Dollar shares instead of Sterling shares are able to submit their Euro shares for conversion into US Dollar shares on or before 31 May 2017 for conversion during June 2017.
In light of the proposed closure of the Euro share class, the Company will no longer accept any requests to convert Sterling shares or US Dollar shares into Euro shares.
Enquiries
Brevan Howard:
Dan Riggs
020 7022 6236
Northern Trust:
Sharon A Williams
01481 745436
END
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