BH Global Limited Update - Possible Corporate Action
May 14 2021 - 9:36AM
UK Regulatory
TIDMBHGG TIDMBHGU
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
14 May 2021
Update - Possible Corporate Action
Further to its announcement of 29 April, the Board of BH Global Limited (the
"Company") is hereby providing an update on its discussions with the Board of
BH Macro Limited with regard to the possibility of a combination of the two
companies effected by way of a scheme of reconstruction of the Company (the
"Scheme Proposal").
It is anticipated that Heads of Terms setting out the framework of the Scheme
Proposal will be signed in the coming days. The Company's largest shareholders
have signalled their support in principle for the Scheme Proposal; and given
that it is envisaged that investors will be provided with the opportunity to
exit as much or as little of their shareholdings for cash as they wish at a
level commensurate with that which they would achieve under the tender offer
proposal approved by shareholders last month, they have also indicated that
they are supportive of the Company proceeding with the Scheme Proposal instead
of that tender offer. The Board remains cognisant of the timeframe within which
the tender offer was expected to be undertaken, and will seek to structure the
Scheme Proposal in such a way that exiting shareholders will receive cash as
closely in line with that timeframe as is practicably achievable.
The Board will make a further announcement in due course as and when there are
material developments to report.
Company website: www.bhglobal.com
Enquiries:
Sir Michael Bunbury
Chairman
David Yovichic
Investec Bank plc
Tel: +44 (0)20 7597 5970
END
(END) Dow Jones Newswires
May 14, 2021 09:36 ET (13:36 GMT)
Bh Global (LSE:BHGG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bh Global (LSE:BHGG)
Historical Stock Chart
From Jul 2023 to Jul 2024