CLOUD ATLAS (RF) PROPRIETARY LIMITED - Cloud Atlas Repurpose of the ASBI EX-SA Portfolio

Cloud Atlas Repurpose of the ASBI EX-SA Portfolio

Cloud Atlas (RF) Proprietary Limited
The Cloud Atlas Collective Investment Scheme in Securities
ASBI – African Sovereign Bond Portfolio ex-SA ETF
JSE code: “ASBI”
ISIN: ZAE000297354
(“ASBI ex-SA”)


CLOUD ATLAS REPURPOSE OF THE ASBI EX-SA PORTFOLIO

Shareholders are referred to the cautionary announcement published on
12 September 2022 advising shareholders to trade in cautionary when
dealing in ASBI ex-SA Securities held by Cloud Atlas Collective
Investment Scheme in Securities (“Cloud Atlas”), due to the portfolio
not being of a critical size to be financially feasible and the
portfolio remaining non-operational in respect to its investment
objective. This has resulted in the portfolio not tracking the index
disclosed on the approved supplement: S&P Africa Hard Currency
Sovereign Bond Select index but holding 95% United States Dollars and
5% South African Rands.

Furthermore, it was added on the cautionary announcement that there is a
prospective seed investor who wishes to repurpose the ASBI ETF into a soft
currency feeder fund from its current hard currency investment objective
and more details are contained below.


Shareholder are advised that following the information provided in the
cautionary announcement, further details to the decision made by Cloud
Atlas regarding the repurposing of the ASBI ex-SA fund can be seen below:

   •   Cloud Atlas, has concluded discussions with Retirement Investment
       and Savings for Everyone (“RISE”) with regards to the future of the
       portfolio following the cautionary announcement issued on 12
       September 2022.

   •   A decision has been taken to repurpose the ETF portfolio.

   •   Cloud Atlas will seek in the coming weeks to change the investment
       objective of the portfolio from a hard currency tracker portfolio
       into a soft/local currency portfolio providing exposure to African
       Sovereign Bonds.

   •   The repurpose of the ETF portfolio will establish it as a feeder to
       local African Sovereign Bond portfolio.

   •   Current investors are reminded that the portfolio is currently
       covered by United States Dollars and South African Rands held by the
       portfolio.

   •   The application process for this repurpose requires a ballot to be
       conducted with all investors and for a positive vote in favour the
       proposed amendment.

   •   In order to begin the ballot process, permission is required from
       the FSCA and the JSE, submissions in this regards are still to be
       made by Cloud Atlas to the respective Authorities.

   •   Cloud Atlas will apply to the suspend the ETF portfolio from trading
       under provisions of section 1.10(c) of the Listings requirements,
       due to the portfolio not operating as per the approved supplement
       by the JSE, while the application to repurpose the portfolio gets
       underway.
  

Shareholders that wish to redeem their holdings are advised to contact
trading@cloudatlasinvesting.com and advised that they will be able to do
so during the suspension period as well, should it be granted by the JSE.



Johannesburg
15 September 2022

Sponsor
Vunani Sponsors

Date: 15-09-2022 05:23:00
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