BH Global

BH Global Limited - Result of Extraordinary General Meeting

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

26 March 2021

Result of Extraordinary General Meeting

Further to the announcement of 12 March, detailing the proposal to amend the Company’s management fee arrangements in conjunction with an undertaking by the Board to facilitate an exit for those shareholders who do not wish to remain invested in the Company on the new fee basis (the “Proposal”), an Extraordinary General Meeting of the Company was held on 25 March at which shareholders approved the Proposal by way of an ordinary resolution.

The votes received were as follows:

Votes in favour – 17,481,960 (representing 65.56% of votes cast)

Votes against – 9,032,050 (representing 33.87% of votes cast)

Votes withheld – 150,952 (representing 0.57% 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.

The Board notes that while the resolution was passed with a substantial majority, a meaningful minority of shareholders was opposed to the Proposal. The Company’s largest shareholders were consulted extensively in advance of the Proposal being put forward; and on the basis of that dialogue, the Board interprets such opposition as being founded largely on a principle of objecting to fee increases.  Nevertheless, the Board will be engaging with those investors to seek to address any specific points which they might now raise.

The new management fee arrangements will apply from 1 July 2021.

Company website:  www.bhglobal.com

Enquiries:

Sir Michael Bunbury
Chairman

David Yovichic
Investec Bank plc
Tel: +44 (0)20 7597 5970