BGHL (GBP)

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 28 May 2020.

Estimated NAV

	Euro Shares	Sterling Shares
Estimated NAV	€  22.7422	£  20.2019
Estimated MTD return	1.50 %	1.52 %
Estimated YTD return	-0.69 %	-2.11 %
Estimated ITD return	127.42 %	102.02 %

NAV and returns are calculated net of management and performance fees

Market information

Euro Shares	Amsterdam (AEX)	London (LSE)
Market Close	€  16.75	N/A
Premium/discount to estimated NAV	-26.35 %	N/A
Sterling Shares	Amsterdam (AEX)	London (LSE)
Market Close	N/A	GBX 1,375.00
Premium/discount to estimated NAV	N/A	-31.94 %

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