REG-BH Macro Limited: March 2016 Share Conversions (Final) <Origin Href="QuoteRef">BHMG.L</Origin>

BH MacroAnnouncement

26/04/2016 15:00

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)   

                 Completion of 31 March 2016 Share Conversion                  
                                 26 April 2016                                 

Following the publication on 22 April 2016 of the final month-end net asset
values for 31 March  2016, the following share conversion ratios have been
determined in accordance with the articles of incorporation of the Company for
the purposes of the 31 March 2016 share conversion date:

0.666806 Sterling shares for each US     
         Dollar share                    
                                         
0.869507 Euro shares for each US Dollar  
         share                           
                                         
1.499686 US Dollar shares for each       
         Sterling share                  
                                         
1.303946 Euro shares for each Sterling   
         share                           
                                         
1.150077 US Dollar shares for each Euro  
         share                           
                                         
0.766903 Sterling 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:

  * 934 Sterling Shares of no par value

and the following shares will be cancelled:

  * 1,403 US Dollar Shares of no par value

all with effect from 26 April 2016.

Application has been 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 3 May 2016. Shareholder CREST accounts for
converting shareholders are expected to be updated by 5.00pm on 3 May 2016.

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

-                   3,445,325    Euro Shares
-                   355,319                          Euro Treasury Shares
-                   15,218,974 US Dollar Shares
-                   1,497,057    US Dollar Treasury Shares
-                   31,249,829 Sterling Shares
-                   3,369,640    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 26 April 2016, the total number of voting rights in the Company (rounded
down to the whole number) is 60,989,375

Enquiries:
Website:    www.bhmacro.com

Northern Trust International Fund Administration Services (Guernsey) Limited
Sharon A Williams
Tel:  +44 (0)1481 745436
 



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