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
19 July 2021
Results of Extraordinary General
Meeting and Class Meetings
Further to the announcement of 30 June, detailing the proposal
that the Company enter into a scheme of reconstruction (the
“Scheme”) pursuant to which the Company would be placed into
voluntary liquidation, an Extraordinary General Meeting of the
Company and Class Meetings of Sterling Shareholders and US
Shareholders were held this morning at which approval was sought
from shareholders for the implementation of the Scheme and for
matters associated therewith. Three Special Resolutions were put
forward at the Extraordinary General Meeting, and one Ordinary
Resolution was put forward at each Class Meeting.
The votes received were as follows:
Extraordinary General Meeting
Special Resolution 1 – Reclassification of Shares and amendments to
Articles of Incorporation
Votes in favour – 27,569,252 (representing 100% of votes cast)
Special Resolution 2 – Implementation of the Scheme
Votes in favour –27,569,252 (representing 100% of votes cast)
Special Resolution 3 – Voluntary liquidation and appointment of
Liquidators
Votes in favour – 27,569,252 (representing 100% of votes cast)
(The above figures aggregate the proxy votes received on the US
Dollar Shares and Sterling Shares in accordance with the respective
voting rights applicable to each US Dollar Share and Sterling Share on a poll, being one vote per US
Dollar Share and 1.97950 votes per Sterling
Share.)
Class Meeting of Sterling
Shareholders
Ordinary Resolution – Approval of the resolutions to be put
forward at the EGM and of variation of rights
Votes in favour – 13,201,781 (representing 100% of votes cast)
Class Meeting of US Dollar Shareholders
Ordinary Resolution - Approval of the resolutions to be put forward
at the EGM and of variation of rights
Votes in favour – 1,412,459 (representing 100% of votes cast)
The full text of each of the Resolutions can be found in the
Company’s circular to shareholders dated 30
June 2021 (the “Circular”).
All resolutions were therefore passed at each Meeting, and
accordingly the Company has now been placed into voluntary
liquidation pursuant to the terms of the Scheme.
Shareholder entitlements under the Scheme
A further announcement is expected to be made on or around
25 August 2021 detailing shareholder
entitlements to cash and/or BH Macro Shares pursuant to the Scheme
(such entitlements to be calculated by reference to the NAV of the
Company’s Shares and of BH Macro’s Shares as at 31 July 2021). Details of those entitlements will
also be published on the Company’s website (www.bhglobal.com) at
that time.
Suspension and Cancellation of Shares
As previously announced, 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. on 15 July 2021. Application has been made to the
Financial Conduct Authority and to the London Stock Exchange for
the cancellation of listings and admissions to trading of the
Shares with effect from 8.00 a.m. on
23 July 2021.
Listing of New BH Macro Shares
Admission to the Official List of new BH Macro Shares issued
pursuant to the Scheme, and commencement of dealings in such Shares
on the Main Market of the London Stock Exchange, are expected to
take place at 8.00 a.m. on
26 August 2021.
Defined terms in this announcement have the same meanings given
to them in the Circular unless the context requires otherwise.
Company website: www.bhglobal.com
Enquiries:
SA Gardner and DN Hyslop
Joint Liquidators
c/o Ernst & Young LLP
PO Box 9
Royal Chambers
St. Julian’s Avenue
St. Peter Port
Guernsey
GY1 4AF
Maria Acuna-Moreno
Maria.Acuna.Moreno@parthenon.ey.com.
Tel: +44 (0) 1481 717400
David Yovichic
Investec Bank plc
Tel: +44 (0)20 7597 5970