Update - Possible Corporate Action

BH Global Limited - Update - Possible Corporate Action

PR Newswire

London, May 14

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 BunburyChairman 

David YovichicInvestec Bank plcTel: +44 (0)20 7597 5970