REG-BH Macro Limited: Additional Disapplication of Pre-emption Rights

BH MacroAnnouncement

12/04/2022 10:45

12 April 2022

BH MACRO LIMITED (the “Company”)

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

LEI: 549300ZOFF0Z2CM87C29

Additional disapplication of pre-emption rights

Since the Company's annual general meeting held in September 2021 (the “2021
Annual General Meeting”), the Company has issued or sold from treasury
2,389,852 Sterling shares to satisfy market demand, as a result of which the
authority obtained at the 2021 Annual General Meeting to issue or sell from
treasury Sterling shares on a non-preemptive basis has been utilised in full.

The Company believes that there is still continuing demand for the issue by
the Company of new Sterling shares and that increasing the number of the
Company's shares in issue should benefit the Company's shareholders as a
whole.

Accordingly, the Company has today despatched to its shareholders a circular
(the "Circular") putting forward a special resolution to supplement the
authority obtained at the 2021 Annual General Meeting which seeks to disapply
the pre-emption rights contained in the Articles so that the Board has
authority to allot and issue (or sell from treasury) shares for cash on a
non-pre-emptive basis in respect of Sterling shares in the Company equivalent
to 10 per cent. of the Sterling shares in issue as at the latest practicable
date prior to today’s date (excluding Sterling shares held in treasury) (the
"Extraordinary General Meeting").

The Extraordinary General Meeting will be held at the offices of Northern
Trust International Fund Administration Services (Guernsey) Limited, Trafalgar
Court, Les Banques, St Peter Port, Guernsey, GY1 3QL on 5 May 2022 at 9.30
a.m. (London time).

The Circular has been despatched to all Shareholders.  An electronic copy of
the Circular is available on the Company's website http://www.bhmacro.com/ and
will also be submitted to the National Storage Mechanism website at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Enquiries:

Company website:        www.bhmacro.com

Northern Trust International Fund Administration Services (Guernsey) Limited

Tel:       +44 (0) 1481 745001



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