BH Macro Limited - Conversion of Securities

• 91 US Dollar Shares of no par value

and the following shares will be cancelled:

• 69 GBP Shares of no par value

all with effect from  23 November 2017

Application has been made to the Financial Conduct Authority (“FCA”) for the new shares to be admitted to the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange’s main market for listed securities.

Admission is expected to occur on or about 29 November 2017 Shareholder CREST accounts for converting shareholders are expected to be updated by 5.00pm on or about 30 November 2017.

Following issue and cancellation of the relevant shares, the total number of shares in issue in each class will be as follows:

-               2,833,117                US Dollar Shares
-               331,228                   US Dollar Treasury Shares
-               14,008,036              Sterling Shares
-               1,450,652                Sterling Treasury Shares

The number of votes each share in the Company is entitled to on a poll at any general meeting of the Company was published by the Company on 9 March 2007 and will not change as a result of the conversions. These are:

US Dollar Share    0.7606    
Sterling Share       1.4710

From 23 November 2017, the total number of voting rights in the Company (rounded down to the whole number) is 22,760,690

Enquiries:
Website:    www.bhmacro.com

Northern Trust International Fund Administration Services (Guernsey) Limited
Sharon A Williams
Tel:  +44 (0)1481 745436