REG-BH Macro Limited: Conversion of Securities

BH MacroAnnouncement

28/09/2020 17:25

BH Macro Limited
(the "Company")

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

LEI: 549300ZOFF0Z2CM87C29

Completion of 31 August 2020 Share Conversion

28 September 2020

Classified Regulated Information, under DTR 6 Annex 1 section 2.5

Following the publication on 21 September 2020 of the final month-end net
asset values for 31 August 2020 the following share conversion ratios have
been determined in accordance with the articles of incorporation of the
Company for the purposes of the 31 August 2020 share conversion date:

  0.778058 Sterling shares for each US Dollar share  
  1.285252 US Dollar shares for each Sterling share  

On the basis of aggregate applications received and using the conversion
ratios listed above, the following shares will be issued:
* 157,003 Sterling Shares of no par value
and the following shares will be cancelled:
* 201,789 US Dollar Shares of no par value
all with effect from 28 September 2020.

Application will be made to the Financial Conduct Authority (“FCA”) 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 or about 06 October 2020 Shareholder CREST
accounts for converting shareholders are expected to be updated by 5.00pm on
or about 06 October 2020.

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

-             2,194,263             US Dollar Shares

-             250,228               US Dollar
Treasury Shares

-             15,007,595           Sterling Shares

-             1,012,203             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:

US Dollar Share  0.7606  

Sterling Share      1.4710

From 28 September 2020, the total number of voting rights in the Company
(rounded down to the whole number) is 23,745,129.

Website:    www.bhmacro.com

Enquiries:
Northern Trust International Fund Administration Services (Guernsey) Limited
Tel:  +44 (0)1481 745001



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