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
14 May 2021
Update - Possible Corporate Action
Further to its announcement of 29 April, the Board of BH Global
Limited (the “Company”) is hereby providing an update on its
discussions with the Board of BH Macro Limited with regard to the
possibility of a combination of the two companies effected by way
of a scheme of reconstruction of the Company (the “Scheme
Proposal”).
It is anticipated that Heads of Terms setting out the framework
of the Scheme Proposal will be signed in the coming days. The
Company’s largest shareholders have signalled their support in
principle for the Scheme Proposal; and given that it is envisaged
that investors will be provided with the opportunity to exit as
much or as little of their shareholdings for cash as they wish at a
level commensurate with that which they would achieve under the
tender offer proposal approved by shareholders last month, they
have also indicated that they are supportive of the Company
proceeding with the Scheme Proposal instead of that tender offer.
The Board remains cognisant of the timeframe within which the
tender offer was expected to be undertaken, and will seek to
structure the Scheme Proposal in such a way that exiting
shareholders will receive cash as closely in line with that
timeframe as is practicably achievable.
The Board will make a further announcement in due course as and
when there are material developments to report.
Company website: www.bhglobal.com
Enquiries:
Sir Michael Bunbury
Chairman
David Yovichic
Investec Bank plc
Tel: +44 (0)20 7597 5970
