PR Newswire
LONDON, United Kingdom, January 27
BH Macro Limited (the “Company”)
(a closed-ended collective investment scheme established as a company with
limited liability under the laws of Guernsey with registered number 46235)
LEI: 549300ZOFF0Z2CM87C29
Class Closure Meetings
27 January 2026
The Company notes that, following the publication of thefinal month-end Net
Asset Values for 31 December 2025 for both classes of the Company’s shares on 26
January 2026, theclass closure resolution procedure contained in the Company’s
articles of incorporation has been triggered in respect of the year ended 31
December 2025 for both classes of shares.
This is because the average daily closing market price of both classes of shares
during 2025 was 8 per cent. or more below the average net asset value per share
of such class taken over the 12 month-end NAV calculation dates occurring in
2025.
The Company is now required to convene a class closure meeting for each class of
shares at which a class closure resolution will be proposed. It is anticipated
that these meetings will be held before the end of February 2026. A circular
containing notices convening the class closure meetings will be sent to
shareholders in due course.
If passed by the shareholders of the relevant class, the class closure
resolution requires the Company to make the following options (the “Class
Closure Options”) available to such shareholders in respect of their holdings of
shares of that class:
(a)to offer all or some of their shares for redemption by the Company;
(b)to convert all or some of their shares into shares of the other class of
shares; or
(c)to remain in the class (subject to the Company retaining the ability to
redeem or convert those shares if the remaining number of Shares of the relevant
class was insufficiently large or not widely enough held to justify its
continuation following the exercise of the Class Closure Options).
Alternatively, if holders of both classes of the Company’s shares approve the
class closure resolution, the Company is required to put in place measures for
its winding-up instead of offering the Class Closure Options to shareholders.
If a class closure resolution is rejected, no further action is required to be
taken in respect of the relevant class of shares. Depending on the share price
performance of the relevant class compared to its NAV, the earliest that another
class closure resolution may be required to be proposed under the articles of
incorporation in relation to that class would be in not less than twelve months’
time, in 2027.
Company website:www.bhmacro.com
Enquiries:
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Tel:+44 (0) 1481 745001
Manager
Brevan Howard Capital Management LP
Email: [email protected]
Corporate Broker
J.P. Morgan Cazenove
William Simmonds / Rupert Budge
Tel: +44 (0)20 3493 8000
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