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Highlights
BH Macro has successfully completed its share conversion process.
The company has issued new Sterling shares and canceled US Dollar shares.
Voting rights for each share class remain unchanged post-conversion.
BH Macro, a closed-ended investment company listed on the FTSE 100 index, has announced the completion of its scheduled share conversion for April 30, 2025. This regular conversion is a part of the company’s ongoing financial operations, and it follows the month-end net asset value announcement. The company’s shares are listed under the ticker symbols BHMG and BMAm. The share conversion process involved the exchange of Sterling shares for US Dollar shares and vice versa, with specific ratios applied to the exchange.
Conversion Ratios and Share Issuance
In line with the company’s articles of incorporation, the conversion process was based on predetermined ratios. As part of this, Sterling shares were exchanged for US Dollar shares at a specific rate, while the reverse conversion also occurred at a different ratio. The outcome of this process saw the issuance of new Sterling shares and the cancellation of a certain number of US Dollar shares. These changes will be reflected in the company’s share structure, as detailed in its official communications.
New Shares and Trading Updates
The newly issued Sterling shares are scheduled for admission to the Official List of the UK Listing Authority, and they will be made available for trading on the London Stock Exchange’s main market. The company anticipates that this process will be completed by early June. Following the conversion, the total number of shares in issue for each class will be updated, with a specified number of Sterling and US Dollar shares remaining outstanding.
Voting Rights and Shareholder Information
As per the company’s governing regulations, the number of votes per share will remain unchanged post-conversion. US Dollar shares will continue to carry a specific voting right, while Sterling shares will have a different voting entitlement. The total number of voting rights across all shares in issue will be updated accordingly following the completion of the conversion.
Ongoing Financial Operations
The share conversion is a routine process within BH Macro’s operational framework, aimed at maintaining the company’s structure and shareholder distribution. The company remains focused on its ongoing financial activities, including maintaining transparency and adhering to regulatory requirements in the UK market.
The latest developments are part of BH Macro's continuous efforts to adjust its share capital and ensure an efficient structure in line with shareholder interests and market requirements.
