NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
BH Macro Limited
(the "Company")
(an authorised closed-ended
collective investment scheme established as a company with limited
liability under the laws of Guernsey with registration number
46235)
25 April
2017
Completion of
Tender Offer
The Company announces that the acquisition by the Company of
9,279,700 Sterling shares, 624,103
Euro shares and 6,932,474 US
Dollar shares pursuant to the tender offer launched by the
Company on 27 January 2017 (the
“Tender Offer”) has now been executed with all being repurchased by
the Company and cancelled.
Payment to shareholders of the Tender Offer consideration is
expected to be despatched today, 25 April 2017.
In addition, the Company has cancelled 10,479,700 Sterling
shares, 804,103 Euro shares and
8,007,474 US Dollar shares held in
treasury.
Following each of the above transactions, the total number of
shares in issue in each share class of the Company is as
follows:
|
Shares in issue |
Shares in
treasury |
Sterling shares |
14,600,311 |
1,450,652 |
Euro shares |
942, 686 |
91,854 |
US Dollar shares |
3,342,813 |
331,228 |
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 today, the total number of voting rights in the Company
(rounded down to the whole number) is 22,484,592.
Enquiries
Brevan Howard:
Dan Riggs
020 7022 6236
J.P. Morgan Cazenove:
William Simmonds
020 7742 4000
Northern Trust:
Sharon A Williams
01481 745436
Important notices
J.P. Morgan Securities plc, which conducts its UK investment
banking activities as J.P. Morgan Cazenove ("J.P. Morgan
Cazenove"), which is authorised by the Prudential Regulation
Authority and regulated by the Prudential Regulation Authority and
the Financial Conduct Authority in the United Kingdom, J.P. Morgan Cazenove is acting
as corporate broker to the Company and has no liability or
responsibility to any person or entity other than the Company in
such capacity.
This announcement does not constitute an offer or solicitation
to acquire or sell any securities in the Company.
There is no guarantee that, following the Tender Offer, the
Company will make any purchases of its own shares or that any class
discontinuation vote will be held. Accordingly, investors
should not expect that they will necessarily be able to realise,
within a period which they would otherwise regard as reasonable,
their investment in the Company, nor can they be certain that they
will be able to realise their investment on a basis that
necessarily reflects the value of the Company’s investment in
Brevan Howard Master Fund Limited.
This announcement is not for distribution in or into
the United States, Canada, Australia or Japan or any other jurisdiction in which its
distribution may be unlawful. This announcement is not an
offer of securities for sale in the
United States or elsewhere. The securities of the
Company have not been and will not be registered under the United
States Securities Act of 1933, as amended (the “Securities Act”),
and may not be offered or sold in the
United States unless registered under the Securities Act or
pursuant to an exemption from such registration. The Company
has not been and will not be registered under the US Investment
Company Act of 1940, as amended, and investors are not entitled to
the benefits of that Act. There has not been and there will
be no public offering of the Company’s securities in the United States.
END