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Listing of Sygnia Itrix MSCI Emerging Markets 50 ETF Participatory Interests
The Sygnia Itrix Collective Investment Scheme in Securities
Sygnia Itrix MSCI Emerging Markets 50 ETF
JSE code: SYGEMF
Short name: SYGMSCIEM
ISIN code: ZAE000297792
(“SYGEMF”)
A portfolio in the Sygnia Itrix Collective Investment Scheme in Securities,
registered as such in terms of the Collective Investment Schemes Control Act, 45 of
2002.
Listing of Sygnia Itrix MSCI Emerging Markets 50 ETF Participatory Interests
The information as it appears below has been extracted from the Programme Memorandum
in respect of the Sygnia Itrix Collective Investment Scheme in Securities and the
Supplement relating to the Sygnia Itrix MSCI Emerging Markets 50 ETF and utilises
the terms and definitions contained therein unless otherwise specified.
1. Introduction
The JSE Limited (“JSE”) has approved the listing on the Main Board of the JSE,
participatory interests in the Sygnia Itrix MSCI Emerging Markets 50 ETF which aims
to track the MSCI Emerging Markets 50 Index and is an ETF in the Sygnia Itrix
Collective Investment Scheme in Securities and shall be managed by Sygnia Itrix (RF)
Propriety Limited
2. The MSCI Emerging Markets 50 Index
The MSCI Emerging Markets 50 Index is based on the MSCI Emerging Markets Index
(“Parent Index”) and includes 50 of its largest constituents, putting stronger
emphasis on tradability compared to the Parent Index. To enhance index tradability,
the MSCI Emerging Markets 50 Index applies eligibility screens that exclude smaller
emerging market countries and replaces constituent securities for selected markets
with depositary receipts. The index is weighted by free float-adjusted market
capitalization.
3. General
The Programme Memorandum and the Supplement document are available during normal
business hours at the registered office of the Manager, 7th Floor, The Foundry,
Cardiff Street, Green Point, Cape Town, 8001 from Monday, 26 April 2021. The
Programme Memorandum and the Supplement will also be available on the Manager’s
website www.sygnia.co.za.
4. Salient dates and times
SENS announcements of Listing Approval Friday, 23 April 2021
Opening date of Initial Offer at 9:00 on: Monday, 26 April 2021
Closing date of Initial Offer at 12:00 on†: Wednesday, 28 April 2021
Letters of allocation issued Thursday, 29 April 2021
Settlement of Letters of Allocation+ Friday, 30 April 2021
Publication of announcement on SENS as to the results of
the initial offer: Friday, 30 April 2021
Ramp up period in respect of cash subscriptions commences
at 09:00 on: Monday, 3 May 2021
Ramp up period in respect of cash subscriptions ends at
12:00 on:** Tuesday, 11 May 2021
Publication of conversion ratio, issue price and listing
quantity by 11:00 on: Wednesday, 12 May 2021
Listing date in respect of in specie and cash subscription
at 09:00 on: Friday, 14 May 2021
*Applicants should contact their broker or CSDP to ascertain the timing for
submission of applications as this will vary dependent on the broker or CSDP in
question.
**The duration of the Ramp-Up Period may be extended depending on prevailing market
liquidity, in which event the Listing Date in respect of Cash Subscriptions will
occur on a later date.
One letter of allotment will be issued for every Rand subscription against a
subscriber’s CSDP or broker account being debited with the Rand amount. Once the
Baskets of ETF Constituents have been acquired, Strate will convert the letter of
allotment to Sygnia Itrix MSCI Emerging Markets 50 ETF participatory interests in
the CSDP accounts in accordance with the conversion ratios to be published on SENS
on Wednesday, 12 May 2021.
Sygnia Itrix MSCI Emerging Markets 50 ETF participatory interests will be issued in
dematerialised format only.
5. The Initial Offer
The initial offer is an initial public offering to investors regarding an investment
in Sygnia Itrix MSCI Emerging Markets 50 ETF participatory interests.
The initial offer is not an offer in any jurisdiction in which it is illegal to make
this initial offer and in those circumstances the Programme Memorandum and Supplement
are issued for information purposes only.
5.1 Conditions of the Initial Offer
• Once an application has been submitted it is irrevocable and as such may not be
withdrawn.
• All subscriptions for Sygnia Itrix MSCI Emerging Markets 50 ETF participatory
interests will be treated as primary market acquisitions.
• All subscribers for Sygnia Itrix MSCI Emerging Markets 50 ETF participatory
interests must have a valid account with a broking member of the JSE. Subscribers
that do not have an account with a JSE member can contact any broker registered
with the JSE to open an account. A list is available on the JSE website being
www.jse.co.za.
5.2 Participating in the Initial Offer
To participate in the initial offer for Sygnia Itrix MSCI Emerging Markets 50 ETF
participatory interests, you must contact your JSE accredited broker.
5.3 The Issue Price of a Sygnia Itrix MSCI Emerging Markets 50 ETF Participatory
Interest
The issue price of each Sygnia Itrix MSCI Emerging Markets 50 ETF participatory
interests will be the cost of acquiring the underlying portfolio less any applicable
costs, divided by the number of participatory interests.
5.4 Discharging the Issue Price during the Initial Offer
The price payable by an investor if he subscribes for securities during the period
of the initial offer may be settled by a payment in cash in Rands or via an in-
specie subscription.
5.5 Minimum Subscriptions
The minimum cash subscription amount is R10 000.
The Sygnia Itrix MSCI Emerging Markets 50 ETF is an open-ended fund and hence there
is no maximum amount regarding the Sygnia Itrix MSCI Emerging Markets 50 ETF
participatory interests available for purchase.
Participatory interests will be issued in dematerialised form only.
23 April 2021
Sponsor
Vunani Sponsors
Date: 26-04-2021 08:46:00
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The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
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