This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.
BH Global Limited – Performance Fee High Water Marks
Hamilton, Bermuda – 10 October, 2014 – In a filing with the Bermuda Stock Exchange (“BSX”), BH Global Limited (the “Company”) disclosed details regarding the performance fee payable. The filing states:
“The Company announces that, for the purposes of calculating the performance fee payable to Brevan Howard Capital Management LP following reinvestment of the Company into Brevan Howard Multi-Strategy Master Fund Limited, the base net asset value per share of the Company’s Sterling shares and US dollar shares as at 1 September 2014 has been set at £13.69 and $13.56 respectively.
These figures represent a 2.85% premium to the actual net asset values per share as at 31 August 2014. They take into account the extent to which certain of the Company’s previous underlying investments were performing below existing high water marks immediately prior to the Company’s reinvestment into Brevan Howard Multi-Strategy Master Fund Limited so that the Company is not required to pay a performance fee in respect of net asset appreciation up to the aforementioned figures.“
-ends-
Enquiries:
Company website: www.bhglobal.com
Brevan Howard
Daniel Riggs
Tel: +44 (0) 207 022 6236
Northern Trust International Fund Administration Services (Guernsey) Limited
Andrew Maiden