THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION
BH Global Limited (the “Company”)
(a closed-ended collective investment scheme established as a
company with limited liability under the laws of Guernsey with
registered number 48555)
LEI: 549300BIIO4DTKEMXV14
26 March 2021
Result of Extraordinary General
Meeting
Further to the announcement of 12 March, detailing the proposal
to amend the Company’s management fee arrangements in conjunction
with an undertaking by the Board to facilitate an exit for those
shareholders who do not wish to remain invested in the Company on
the new fee basis (the “Proposal”), an Extraordinary General
Meeting of the Company was held on 25 March at which shareholders
approved the Proposal by way of an ordinary resolution.
The votes received were as follows:
Votes in favour – 17,481,960 (representing 65.56% of votes
cast)
Votes against – 9,032,050 (representing 33.87% of votes
cast)
Votes withheld – 150,952 (representing 0.57% of votes cast)
The above figures aggregate the proxy votes received on the US
Dollar shares and Sterling shares in accordance with the respective
voting rights applicable to each US Dollar share and Sterling share
on a poll, being one vote per US Dollar share and 1.97950 votes per
Sterling share.
The Board notes that while the resolution was passed with a
substantial majority, a meaningful minority of shareholders was
opposed to the Proposal. The Company’s largest shareholders were
consulted extensively in advance of the Proposal being put forward;
and on the basis of that dialogue, the Board interprets such
opposition as being founded largely on a principle of objecting to
fee increases. Nevertheless, the Board will be engaging with
those investors to seek to address any specific points which they
might now raise.
The new management fee arrangements will apply from 1 July 2021.
Company website: www.bhglobal.com
Enquiries:
Sir Michael Bunbury
Chairman
David Yovichic
Investec Bank plc
Tel: +44 (0)20 7597 5970