BH Macro Limited - Conversion of Securities

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 December 2016 Share Conversion

23 January 2017

Following the publication on 18 January 2017 of the final month-end net asset values for 31 December 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 December 2016 share conversion date:

On the basis of aggregate applications received and using the conversion ratios listed above, the following shares will be issued:

• 50,491 GBP Shares of no par value

and the following shares will be cancelled:

• 23,318 US Dollar Shares of no par value
• 38,813 Euro Shares of no par value

all with effect from 23 January 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 26 January 2017 Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on 26 January 2017.

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

-               1,476,059                Euro Shares

-               271,854                   Euro Treasury Shares

-               9,952,206                US Dollar Shares

-               1,406,228                US Dollar Treasury Shares

-               22,422,160              Sterling Shares

-               2,650,652                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 23 January 2017, the total number of voting rights in the Company (rounded down to the whole number) is 42,028,704

Enquiries:

Website:    www.bhmacro.com

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