BGHL (EUR)

NAV(s)

                                      BOUSSARD & GAVAUDAN HOLDING LIMITED
Ordinary Shares

The Directors of Boussard & Gavaudan Holding Limited would like to announce the following information for the Company.

Close of business 17 Jan 2020.

Estimated NAV

	Euro Shares	Sterling Shares
Estimated NAV	€  23.0023	£  20.7354
Estimated MTD return	0.42 %	0.44 %
Estimated YTD return	0.42 %	0.44 %
Estimated ITD return	130.02 %	107.35 %

NAV and returns are calculated net of management and performance fees

Market information

Euro Shares	Amsterdam (AEX)	London (LSE)
Market Close	€  17.55	N/A
Premium/discount to estimated NAV	-23.70 %	N/A
Sterling Shares	Amsterdam (AEX)	London (LSE)
Market Close	N/A	GBX 1,570.00
Premium/discount to estimated NAV	N/A	-24.28 %

Transactions in own securities purchased into treasury

Ordinary Shares	Euro Shares	Sterling Shares
Number of shares	N/A	N/A
Average Price	N/A	N/A
Range of Price	N/A	N/A

           

                                           

Liquidity Enhancement Agreement	Euro Shares	Sterling Shares
Number of shares	N/A	N/A
Average Price	N/A	N/A

BGHL Capital