THIS ANNOUNCEMENT IS NOT FOR
DISTRIBUTION IN OR INTO THE UNITED
STATES OR TO ANY US PERSON, AUSTRALIA, CANADA, JAPAN, NEW
ZEALAND, THE REPUBLIC OF SOUTH
AFRICA, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OR
ANY OTHER JURISDICTION IN WHICH ITS DISTRIBUTION MAY BE
UNLAWFUL
Publication of
Supplementary Prospectus
BH MACRO LIMITED
(the “Company”)
(an authorised closed-ended
collective investment scheme established as a non-cellular company
limited by shares under the laws of Guernsey with registration
number 46235)
LEI: 549300ZOFF0Z2CM87C29
The Company’s board of directors (the “Board”) announces that it
has today published a supplementary prospectus (the “Supplementary
Prospectus”) supplementing the prospectus published by the Company
on 23 January 2023 in relation to the
Initial Issue and Issuance Programme of, in aggregate, up to 220
million new ordinary shares of no par value each in the capital of
the Company (“Shares”) to be denominated as either Sterling shares
(the “Sterling Shares”) or US dollar shares (the “US Dollar
Shares”) (the “Prospectus”).
The Supplementary Prospectus has been issued following the
publication of the Company’s annual report and audited consolidated
financial statements as at and for the year ended 31 December 2022 (the “2022 Annual Report”) and
the publication of the audited consolidated financial statements as
at and for the financial year ended 31
December 2022 of Brevan Howard Master Fund Limited (the
“Master Fund”) (the “2022 Master Fund Financial Statements”).
Certain information from the 2022 Annual Report and the 2022 Master
Fund Financial Statements is incorporated by reference into the
Supplementary Prospectus. The Supplementary Prospectus also updates
the no significant change statements in relation to each of the
Company and the Master Fund included in the Prospectus, to cover
the period since 31 December
2022.
The Prospectus (comprising a summary, a registration document
and a securities note) published by the Company on 23 January 2023, together with the Supplementary
Prospectus, comprise the Prospectus in relation to the Issuance
Programme for up to 220 million new Shares, of which 146,875,600
Shares (to be denominated either as Sterling Shares or US Dollar
Shares) remain available for issue.
Unless otherwise defined, capitalised terms used in this
Announcement shall have the same meaning as set out in the
Prospectus. Copies of the Supplementary Prospectus and the 2022
Annual Report will be submitted to the National Storage Mechanism
and will be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism. Copies of
the Supplementary Prospectus, the 2022 Annual Report and the 2022
Master Fund Financial Statements are available on the Company's
website at www.bhmacro.com
Enquiries
BH Macro
Richard Horlick
Chairman
J.P. Morgan Cazenove
William Simmonds / Rupert Budge
Tel: +44 (0) 20 7742 4000
Important Notice
The information contained in this announcement is for background
purposes only and does not purport to be full or complete. No
reliance may be placed by any person for any purpose on the
information contained in this announcement or its accuracy,
fairness or completeness.
Nothing contained herein constitutes or should be construed as
(i) investment, tax, financial, accounting or legal advice (ii) a
representation that any investment or strategy is suitable or
appropriate to individual circumstances or (iii) a personal
recommendation.
J.P. Morgan Securities plc, which conducts its UK investment
banking activities as J.P. Morgan Cazenove ("JPMC"), which is
authorised by the Prudential Regulation Authority and regulated by
the Prudential Regulation Authority and the FCA in the United Kingdom, is acting exclusively for the
Company and no-one else in connection with the Initial Issue and
will not be responsible to anyone other than the Company for
providing the protections afforded to customers of JPMC or for
providing advice in relation to the Initial Issue, or any other
matter referred to herein.