LONDON (Alliance News) - BH Macro Ltd said it has purchased a substantial amount of shares across different share classes and cancelled them as part of its tender offer that was launched in early April.
BH Macro said it has repurchased and cancelled 7.8 million sterling shares, 3.8 million dollar shares and 861,331 euro shares as part of the tender offer that was launched to provide shareholders with "an opportunity for more liquidity than is offered by on-market purchases by the company of its own shares".
Following the offer, BH Macro has 23.2 million sterling shares in issue, 11.2 million dollar shares and 2.5 million euro shares.
The shares repurchased and cancelled represent around 25% of the issued shares of each share class. The remaining shares left in issue, combined, amount to 45.2 million shares following the offer.
BH Macro didn't say at what price the repurchases were conductions. When the offer was originally launched, BH Macro said the offer would be at the per-share net asset value at the end of May.
BH Macro shares were trading down 0.9% to 1,930.00 pence per share on Monday.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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BH Macro GBP (BHMG)