BH Macro Limited - Shareholder Update
February 16 2021 - 10:30AM
PR Newswire (US)
BH MACRO LIMITED (the “Company”)
(a closed-ended investment company incorporated in Guernsey with
registration number 46235)
LEI: 549300ZOFF0Z2CM87C29
THIS ANNOUNCEMENT INCLUDES INSIDE
INFORMATION
16 February 2021
Shareholder
update
Further to the Company’s announcement on 22 January 2021, the Company has agreed with
Brevan Howard Capital Management LP (the “Manager”) that the
Company will put forward to shareholders the changes to its
management agreement requested by the Manager in its letter dated
21 January 2021 (the “Manager’s
Proposed Changes”).
The Company has also agreed with the Manager that if
shareholders approve the Manager’s Proposed Changes, the Company
will make a tender offer to shareholders to acquire up to 40% of
the Company’s shares at a price equal to 98% of the net asset value
per share at the time of completion of the tender offer less an
amount per share in respect of the costs of the tender
offer.
The Company will hold an extraordinary general meeting at which
the Manager’s Proposed Changes are proposed to shareholders as soon
as possible next month (March 2021)
and intends to publish a circular including a notice convening the
meeting once regulatory approval is obtained. The Manager has
agreed with the Company that the Manager will not serve notice of
termination of the management agreement prior to the extraordinary
general meeting being held.
Enquiries
Richard Horlick
Chairman
William Simmonds
J.P. Morgan Cazenove
0207 742 4000
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