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Closing of Tender Offer

23 Jun 2021 17:19

BH Macro Limited - Closing of Tender Offer

BH Macro Limited - Closing of Tender Offer

PR Newswire

London, June 23

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

BH MACRO LIMITED

(a closed-ended investment company incorporated in Guernsey with registration number 46235)

THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION

LEI: 549300ZOFF0Z2CM87C29

23 June 2021

Closing of Tender offer

Further to the tender offer launched by the Company on 2 June 2021 for up to 40% of each class of its issued share capital at a price equivalent to 97.8% of the net asset value per share for the relevant class as at 30 June 2021 (the "Tender Offer") and the Company’s announcement earlier today that the special resolution relating to the Tender Offer proposed at the Extraordinary General Meeting of the Company held earlier today was duly passed, the Company announces that the following shares in the capital of the Company have been validly tendered pursuant to the Tender Offer:

Class of sharesNumber of shares validly tendered% of shares of the relevant class in issue (excluding shares held in treasury)
Sterling shares1,334,0998.84%
US dollar shares125,1635.98%

All Eligible Shareholders who validly tendered shares in the Tender Offer shall have those shares purchased in full.

The price at which tendered shares of each class will be purchased (the "Tender Price") will be equal to 97.8 per cent. of the Net Asset Value per Share of the relevant class as at the close of business on the NAV Determination Date of 30 June 2021.

The final Tender Price for successfully tendered shares of each class will be announced on or around 26 July 2021.

Payment of the relevant Tender Price due to Eligible Shareholders whose tenders under the Tender Offer have been accepted, will be made by 30 July 2021 or as soon as practicable thereafter.

It is anticipated that there will be no uplift to the NAV per share of the Company’s shares in issue following completion of the Tender Offer on the basis that the relevant assets of the Company will be applied towards the Company’s costs of the proposed combination with BH Global Limited announced on 28 May 2021.

Enquiries

Richard Horlick

Chairman

William Simmonds

J.P. Morgan Cazenove

020 7742 4000

Edward Berry / Tom Blackwell

FTI Consulting

07703 330 199 / 07747 113 919

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, is acting exclusively for the Company and no-one else in connection with the Tender Offer and will not be responsible to anyone other than the Company for providing the protections afforded to customers of J.P. Morgan Cazenove or for providing advice in relation to the Tender Offer or any other matter referred to herein.

This announcement does not constitute an offer or solicitation to acquire or sell any securities in the Company. Any acceptance or other response to the Tender Offer should be made on the basis of the information contained in the Circular. The Tender Offer will not be extended into any jurisdiction where to do so may be unlawful or which may otherwise subject the Company or any other person to any unduly onerous obligation.

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.

Date   Source Headline
3rd Sep 20214:20 pmPRNHolding(s) in Company
2nd Sep 20216:30 pmPRNCorrection : Net Asset Value(s)
2nd Sep 202111:15 amPRNHolding(s) in Company
1st Sep 20214:50 pmPRNNet Asset Value(s)
1st Sep 202112:13 pmPRNConversion of Securities
1st Sep 20219:20 amPRNAdmission and Total Voting Rights
31st Aug 20212:13 pmPRNInterim Report and Unaudited Financial Statements 2021
27th Aug 20215:30 pmRNSBH Macro (GBP)
27th Aug 20217:00 amPRNCombination - Result of Issue
26th Aug 20215:36 pmPRNNet Asset Value(s)
25th Aug 202110:03 amPRNMonthly Shareholder Report - July 2021
24th Aug 20212:38 pmPRNNet Asset Value(s)
20th Aug 20215:34 pmPRNCombination - Timetable Update
17th Aug 20213:53 pmPRNNet Asset Value(s)
12th Aug 20212:33 pmPRNTransparency Report
11th Aug 202112:02 pmPRNNet Asset Value(s)
9th Aug 20213:30 pmPRNHolding(s) in Company
6th Aug 20214:47 pmPRNCompletion of Tender Offer
4th Aug 20215:46 pmPRNNet Asset Value(s)
30th Jul 202112:03 pmPRNTender Price
30th Jul 20218:59 amPRNInvestor Statement - June 2021
27th Jul 20216:19 pmPRNNet Asset Value(s)
27th Jul 20214:44 pmPRNNet Asset Value(s)
26th Jul 202110:01 amPRNClosing of Tender Offer - Timetable Update
21st Jul 202111:04 amPRNMonthly Shareholder Report – June 2021
20th Jul 20213:10 pmPRNNet Asset Value(s)
14th Jul 20212:51 pmPRNTransparency Report
13th Jul 20214:40 pmPRNNet Asset Value(s)
12th Jul 20217:00 amPRNDirector Declaration
6th Jul 20216:08 pmPRNNet Asset Value(s)
5th Jul 20215:06 pmPRNNet Asset Value(s)
30th Jun 20216:15 pmPRNProposed combination with BH Global Limited
29th Jun 20213:55 pmPRNNet Asset Value(s)
25th Jun 20213:34 pmPRNNet Asset Value(s)
23rd Jun 20215:19 pmPRNClosing of Tender Offer
23rd Jun 20212:28 pmPRNHolding(s) in Company
23rd Jun 202112:20 pmPRNResult of EGM
22nd Jun 20215:20 pmPRNNet Asset Value(s)
18th Jun 20214:21 pmPRNMonthly Shareholder Report - May 2021
15th Jun 20213:10 pmPRNNet Asset Value(s)
14th Jun 20219:30 amPRNTransparency Reporting
8th Jun 20213:48 pmPRNNet Asset Value(s)
3rd Jun 20214:57 pmPRNNet Asset Value(s)
2nd Jun 20214:24 pmPRNHolding(s) in Company
2nd Jun 20212:04 pmPRNTender Offer
1st Jun 20214:36 pmPRNConversion of Securities
28th May 20214:15 pmPRNProposed combination with BH Global Limited
27th May 20214:56 pmPRNNet Asset Value(s)
25th May 20214:19 pmPRNMonthly Shareholder Report - April 2021
25th May 20212:27 pmPRNNet Asset Value(s)

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