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Informative Notice - 20190318 Review Timetable Informative Notice – March and June 2019
FTSE/JSE Index Review Timetables – March & June 2019
14 January 2019
The FTSE/JSE Africa Index Series will be reviewed during March 2019. The review timetable is as follows:
Event Date Description
Free Float and Shares In 08 February 2019 Cut date to determine free float
Issue Changes Cut Date changes in excess of 3% and
cumulative shares in issue changes
in excess of 1%.
Ranking Cut Date 18 February 2019 Market capitalisation snapshot for
ranking and selection purposes.
Indicative Free Float 18 February 2019 Publication of the indicative free
float changes.
Review ICA 27 February 2019 Review additions, deletions and
weighting changes published.
FTSE/JSE AC Meeting 28 February 2019 FTSE/JSE Advisory Committee
Meeting.
Capping Cut Date 08 March 2019 Closing prices snapshot for portfolio
factor calculation.
Portfolio Factors 11 March 2019 Publication of portfolio factors for
capped, equally weighted and
fundamental weighted indices.
Effective Date 18 March 2019 Review changes applied from start
of trading.
Friday 08 February 2019: Cut-off date for new information. Information available prior to the end of day on 08
February 2019 will be considered when determining March’s shares and free float updates.
Friday 15 February 2019: The shares and float files will be released on 15 February 2019 (and will be available
on the FTSE/JSE website on 18 February 2019). Clients are welcome to query the data included within these files
and FTSE Russell will review appropriately. Any changes will be visible within the files which will be published daily
between 15 February and 01 March 2019. These files are strictly indicative until end of day on 01 March 2019
and are subject to daily changes.
The FTSE/JSE Index Review files will be released on Friday 27 February 2019.
Monday 18 February to Friday 01 March 2019: Clients are welcome to query the data visible within the files
between 18 February 2019 and end of day on 01 March 2019.
The quarterly updates will be considered final at end of day on Friday 01 March 2019.
Monday 04 March 2019: Effective start of trading on 04 March 2019, the scheduled changes will be “locked
down” across the FTSE/JSE Indexes, with no further corrections applied this quarter*.
*On occasion, egregious errors may be corrected during the lock-down period if an erroneous change will
compromise the replicability of the index or if the change places potential price pressure on the company.
Monday 18th March 2019: From start of trading on 18 March 2019 the quarterly changes will become effective
within the FTSE/JSE Indexes.
Additional Clarifications
Stocks Suspended during the Review Period: Constituents which are suspended on Friday 01 March 2019*
will not have their scheduled review changes implemented regardless of a resumption of trade prior to the review
effective date. The scheduled review changes will be implemented T+2 after the review effective date, at the
earliest, upon resumption of trade.
If an active constituent suspends on or prior to Wednesday 13 March 2019, the scheduled review changes will be
reversed and applied T+2 after the resumption of trade (T+2 after the review effective date, at the earliest). If a
suspension occurs on 14 March 2019 or 15 March 2019, the review changes will proceed as previously
communicated**.
*If there is a confirmed resumption of trade date which occurs prior to the review effective date, the review
changes will proceed as scheduled.
**in exceptional circumstances, it may be deemed necessary to reverse the review changes when a company
suspends on 14 or 15 March 2019.
Long Term Suspended Stocks: Constituents that have been suspended for 60 or more days on or before Friday
15 February 2019, will be deleted from the index in conjunction with the index review (at zero price). However, if
the constituent subsequently resumes trading on or prior to Friday 01 March 2019 the deletion will be rescinded
and the constituent will remain within the index if otherwise eligible. If the constituent resumes trading on or after
04 March 2019, it will still be removed in conjunction with the review (at market price if an active replicable market
exists – otherwise it will be removed at zero).
Equity Offerings: In accordance with standard methodology, primary and secondary offerings will continue to be
applied with two days’ notice when discovered after the review announcement date. However, offerings discovered
on, or would otherwise be implemented on, the Monday, Tuesday, and Wednesday prior to the review will
instead be implemented simultaneously in conjunction with the review effective date on 18 March 2019 (open).
Offerings discovered on the Thursday and Friday prior to the review will be implemented with two days’ notice and
therefore subsequent to the review.
Timetable Summary
Date Action
Friday 08 February Shares and Float cut-off date
Friday 15 February to Friday 01 March Shares in issue and free float changes published
Wednesday 27 February The review files will be published.
Monday 18 February to Friday 01 March Query period
Monday 04 March Lock down period commences from the open
Monday 18 March Index review effective from the open
FTSE Russell is also pleased to announce the June 2019 FTSE/JSE Index Review timetable as follows:
Event Date Description
Free Float and Shares In 17 May 2019 Cut date to determine free float
Issue Changes Cut Date changes in excess of 3% and
cumulative shares in issue changes
in excess of 1%.
Ranking Cut Date 27 May 2019 Market capitalisation snapshot for
ranking and selection purposes.
Indicative Free Float 27 May 2019 Publication of the indicative free
float changes.
Review ICA 05 June 2019 Review additions, deletions and
weighting changes published.
FTSE/JSE AC Meeting 06 June 2019 FTSE/JSE Advisory Committee
Meeting.
Capping Cut Date 14 June 2019 Closing prices snapshot for portfolio
factor calculation.
Portfolio Factors 17 June 2019 Publication of portfolio factors for
capped, equally weighted and
fundamental weighted indices.
Effective Date 24 June 2019 Review changes applied from start
of trading.
Friday 17 May 2019: Cut-off date for new information. Information available prior to the end of day on 17 May
2019 will be considered when determining March’s shares and free float updates.
Friday 24 May 2019: The shares and float files will be released on 24 May 2019 (and will be available on the
FTSE/JSE website on 27 May 2019). Clients are welcome to query the data included within these files and FTSE
Russell will review appropriately. Any changes will be visible within the files which will be published daily between
24 May and 07 June 2019. These files are strictly indicative until end of day on 07 June 2019 and are subject to
daily changes.
The FTSE/JSE Index Review files will be released on Wednesday 05 June 2019.
Monday 27 May to Friday 07 June 2019: Clients are welcome to query the data visible within the files between
27 May 2019 and end of day on 07 June 2019.
The quarterly updates will be considered final at end of day on Friday 07 June 2019.
Monday 10 June 2019: Effective start of trading on 10 June 2019, the scheduled changes will be “locked down”
across the FTSE/JSE Indexes, with no further corrections applied this quarter*.
*On occasion, egregious errors may be corrected during the lock-down period if an erroneous change will
compromise the replicability of the index or if the change places potential price pressure on the company.
Monday 24 June 2019: From start of trading on 24 June 2019 the quarterly changes will become effective within
the FTSE/JSE Indexes.
Additional Clarifications
Stocks Suspended during the Review Period: Constituents which are suspended on Friday 07 June 2019* will
not have their scheduled review changes implemented regardless of a resumption of trade prior to the review
effective date. The scheduled review changes will be implemented T+2 after the review effective date, at the
earliest, upon resumption of trade.
If an active constituent suspends on or prior to Wednesday 19 June 2019, the scheduled review changes will be
reversed and applied T+2 after the resumption of trade (T+2 after the review effective date, at the earliest). If a
suspension occurs on 20 June 2019 or 21 June 2019, the review changes will proceed as previously
communicated**.
*If there is a confirmed resumption of trade date which occurs prior to the review effective date, the review
changes will proceed as scheduled.
**in exceptional circumstances, it may be deemed necessary to reverse the review changes when a company
suspends on 20 or 21 June 2019.
Long Term Suspended Stocks: Constituents that have been suspended for 60 or more days on or before Friday
24 May 2019, will be deleted from the index in conjunction with the index review (at zero price). However, if the
constituent subsequently resumes trading on or prior to Friday 07 June 2019 the deletion will be rescinded and
the constituent will remain within the index if otherwise eligible. If the constituent resumes trading on or after 04
March 2019, it will still be removed in conjunction with the review (at market price if an active replicable market
exists – otherwise it will be removed at zero).
Equity Offerings: In accordance with standard methodology, primary and secondary offerings will continue to be
applied with two days’ notice when discovered after the review announcement date. However, offerings discovered
on, or would otherwise be implemented on, the Monday, Tuesday, and Wednesday prior to the review will
instead be implemented simultaneously in conjunction with the review effective date on 24 June 2019 (open).
Offerings discovered on the Thursday and Friday prior to the review will be implemented with two days’ notice and
therefore subsequent to the review.
Timetable Summary
Date Action
Friday 17 May Shares and Float cut-off date
Friday 24 May to Friday 07 June Shares in issue and free float changes published
Wednesday 05 June The review files will be published.
Monday 27 May to Friday 07 June Query period
Monday 10 June Lock down period commences from the open
Monday 24 June Index review effective from the open
Should you require further information, please refer to the FTSE/JSE Ground Rules available at the link below or
contact the JSE on +27 11 520 7000 or info@jse.co.za
FTSE/JSE Ground Rules
For further information please contact FTSE Russell Client Services at info@ftserussell.com or call:
Australia +1800 653 680
Hong Kong +852 2164 3333
Japan +81 3 4563 6346
London +44 (0) 20 7866 1810
New York +1866 551 0617
Alternatively please visit our website at www.ftserussell.com
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Date: 15/01/2019 07:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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