BH Global Limited Proposed Scheme of Reconstruction - update

 
TIDMBHGG TIDMBHGU 
 
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 INCLUDES INSIDE INFORMATION 
 
                               BH GLOBAL LIMITED 
 (a closed-ended investment company incorporated in Guernsey with registration 
                                 number 48555) 
                           LEI: 549300BIIO4DTKEMXV14 
 
15 July 2021 
 
                  Proposed Scheme of Reconstruction - update 
 
Results of Scheme elections 
 
Further to the Company's announcement of 30 June detailing the terms of a 
proposed scheme of reconstruction (the "Scheme") pursuant to which the Company 
would be placed into voluntary liquidation and Shareholders would have the 
option to receive cash and/or shares in BH Macro Limited in exchange for their 
shareholdings, the Board of BH Global Limited announces that final elections 
under the Scheme are (or, in accordance with the terms and conditions of the 
Scheme, are deemed to be) as follows: 
 
Sterling Shares 
 
Elections for the Cash Option - 2,937,143 Sterling Shares 
 
Elections for the BH Macro Shares Option - 17,517,300 Sterling Shares 
 
US Dollar Shares 
 
Elections for the Cash Option - 1,202,789 US Dollar Shares 
 
Elections for the BH Macro Shares Option - 1,441,690 US Dollar Shares 
 
Implementation of the Scheme remains conditional upon, inter alia, the passing 
of all the Resolutions at (a) the Sterling Shareholders' Class Meeting; (b) the 
US Dollar Shareholders' Class Meeting; and (c) the Extraordinary General 
Meeting and all conditions to such Resolutions (excluding any condition 
relating to the passing of any other Resolution) being fulfilled. Each of these 
Meetings is due to be held on 19 July 2021. 
 
In the event that the Scheme does proceed, the number of BH Macro Shares to 
which the relevant electing Shareholders will be entitled will be calculated by 
reference to the NAV of the Company's Shares and of BH Macro's Shares as at the 
Calculation Date (being 31 July 2021). A further announcement will (if 
appropriate) be made in due course detailing entitlements for those 
Shareholders who have elected, or are deemed to have elected, for the BH Macro 
Shares Option. 
 
Suspension of Shares 
 
In accordance with the circular published by the Company on 30 June with regard 
to its proposed scheme of reconstruction (the "Circular"), both classes of the 
Company's Shares were suspended from listing on the Official List of the 
Financial Conduct Authority and from trading on the London Stock Exchange at 
7.30 a.m. this morning, 15 July 2021. 
 
Application has been made to the Financial Conduct Authority and to the London 
Stock Exchange for the listings and admissions to trading of the two classes of 
Shares to be cancelled with effect from 8.00 a.m. on 23 July 2021. 
 
Weekly Estimated NAV announcement 
 
Shareholders should note that the Company's next estimated NAV per share update 
will be calculated as at 19 July (the proposed date of the Company's entry into 
liquidation) and not 16 July, for US reporting purposes. It is expected that 
the estimated NAVs as at 19 July will be announced to the market on or around 
21 July. 
 
Defined terms in this announcement have the meanings given to them in the 
Circular unless the context requires otherwise. 
 
Enquiries: 
 
Sir Michael Bunbury 
Chairman 
David Yovichic 
Investec Bank plc 
020 7597 5970 
 
 
 
END 
 
 

(END) Dow Jones Newswires

July 15, 2021 06:59 ET (10:59 GMT)