BH Macro Limited (BHMG), a Guernsey-incorporated closed-ended collective investment scheme listed on the London Stock Exchange, has announced the purchase of 225,000 Sterling ordinary shares and 2,222 US Dollar ordinary shares on 11 November 2026, executed through J.P. Morgan Securities plc. The purchased shares will be held in treasury rather than cancelled, a distinction that preserves them for potential future reissuance. The transaction reduces the free float of both share classes and updates the total voting rights figure, which investors and index trackers may need to note for their own calculations.

Key Points

  • BH Macro Limited (BHMG) — Guernsey-registered closed-ended collective investment scheme
  • The company purchased 225,000 Sterling shares at a weighted average price of £4.1350 and 2,222 US Dollar shares at a weighted average price of $4.2400 on 11 November 2026
  • Following the transaction, Sterling shares in issue (excluding treasury) stand at 298,115,745, with 79,548,523 held in treasury; US Dollar shares in issue stand at 23,394,334, with 1,239,899 in treasury
  • Investors should watch whether further buyback tranches are announced and how total voting rights evolve across both share classes

BHMG Executes Dual-Class Share Buyback at £4.1350 and $4.2400 Weighted Average Prices

BH Macro Limited confirmed that J.P. Morgan Securities plc carried out the purchases on its behalf on 11 November 2026. The Sterling tranche comprised 225,000 ordinary shares acquired at a weighted average price of £4.1350, while the smaller US Dollar tranche covered 2,222 ordinary shares at a weighted average price of $4.2400. The company has not disclosed the total aggregate cost of either tranche in the announcement. Both purchases were conducted on the London Stock Exchange, and all shares acquired will be held in treasury in accordance with the company's stated intentions.

Treasury Share Holdings and Remaining Float Across Sterling and US Dollar Classes

Following the buyback, BH Macro's Sterling share class now shows 298,115,745 shares in issue excluding treasury, alongside a substantial treasury holding of 79,548,523 Sterling shares. The US Dollar share class stands at 23,394,334 shares in issue, with 1,239,899 held in treasury. Holding repurchased shares in treasury, rather than cancelling them outright, allows the company the flexibility to reissue them at a later date, which is a common feature of closed-ended fund capital management strategies in the UK and Guernsey-domiciled structures.

Total Voting Rights in BH Macro Revised to 456,321,991 from 11 November 2026

As a direct consequence of the share transactions, BH Macro Limited has updated its total voting rights figure to 456,321,991 as of 11 November 2026, rounded up to the whole number as stated in the announcement. This figure is a regulatory disclosure required under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, enabling shareholders and market participants to determine whether notification thresholds for major holdings have been crossed. Investors monitoring their proportional voting exposure across either share class should use this updated figure accordingly.