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Informative Notice – 20240923 Review Timetable Informative Notice - September and December 2024
CORPORATE
September 2024 and December 2024 Shares and Free Floats Updates –
Timetable
FTSE/JSE Index Series
05 August 2024
The FTSE/JSE Africa Index Series will be reviewed during September 2024. The review timetable is as follows:
Event Date Description
Free Float and Shares In Issue 31 July 2024 Cut date to determine free float changes in
Changes Cut Date excess of 3% and cumulative shares in issue
changes in excess of 1%.
Ranking Cut Date 26 August 2024 Market capitalisation snapshot for ranking
and selection purposes.
Indicative Free Float 26 August 2024 Publication of the indicative free float
changes.
Review ICA 04 September 2024 Review additions, deletions and weighting
changes published.
FTSE/JSE AC Meeting 05 September 2024 FTSE/JSE Advisory Committee Meeting.
Capping Cut Date 13 September 2024 Closing prices snapshot for portfolio factor
calculation.
Portfolio Factors 16 September 2024* Publication of portfolio factors for capped,
equally weighted and fundamental weighted
indices.
Effective Date 23 September 2024 Review changes applied from start of trading.
*Portfolio Factors Publication: Please note that a market notice was published on 30 October 2021 pertaining to the Final availability of FTSE/JSE
Capping Factors on the JSE Website. The notice can be accessed here.
Wednesday 31 July 2024: Cut-off date for new information. Information available prior to the end of day on 31
July 2024 will be considered when determining September's shares and free float updates.
Friday 23 August 2024: The shares and float files will be released (and will be available on the FTSE/JSE website
on 26 August 2024). 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 23 August
and 06 September. These files are strictly indicative until end of day on 06 September 2024 and are subject to
daily changes.
The FTSE/JSE Index Review files will be released on Wednesday 04 September 2024.
Monday 26 August to Friday 06 September 2024: Query period. Clients are welcome to query the data visible
within the files between 26 August 2024 and end of day on 06 September 2024.
The quarterly updates will be considered final at end of day on Friday 06 September 2024.
Monday 09 September 2024: Effective start of trading on 09 September 2024, the scheduled changes will be
"locked down" across the FTSE/JSE Indexes, with no further corrections applied this quarter*.
*During the quarterly review / annual reconstitution lock-down period, FTSE Russell will generally avoid implementing corrections to ensure stability
during the period prior to the review / reconstitution implementation. However egregious shares and free float errors discovered within the lock-
down period or during the week following the review / reconstitution may be corrected if an erroneous change compromises the replicability of the
index OR if the change places potential price pressure on the company OR if there is a material error of 50% or greater (relative) to index shares.
Any corrections during the lock-down period or the week following the review will be implemented with appropriate notice. All other shares and free
float errors will be corrected at the following quarterly index review.
CORPORATE
Monday 23 September 2024: From start of trading on 23 September 2024 the quarterly changes will become
effective across the FTSE/JSE indexes.
Additional Clarifications
Stocks Suspended during the Review Period: Constituents which are suspended on Friday 06 September
2024* 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+5 after the review effective date, at
the earliest, upon resumption of trade.
If an active constituent suspends on or prior to Thursday 19 September 2024*, the scheduled review changes
will be reversed and applied T+5 after the resumption of trade (T+5 after the review effective date, at the earliest).
For securities that suspend on the Friday prior to the review effective date, 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 September 2024.
Please note that Section 4.2 of the FTSE Russell Index Policy for Trading Halts and Market Closures guideline was updated on 4 Dec 2023. The
notice can be accessed here.
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 which
would ordinarily become effective at the open on the Tuesday - Friday prior to the review will instead be
implemented simultaneously in conjunction with the review effective date on 23 September 2024 (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
Wednesday 31 July Shares and Float cut-off date
Friday 23 August to Friday 06 September Shares in issue and free float changes published
Wednesday 04 September The review files will be published
Monday 26 August to Friday 06 September Query period
Monday 09 September Lock down period commences from the open
Monday 23 September Index review effective from the open
CORPORATE
FTSE Russell is also pleased to announce the December 2024 Index Review timetable as follows:
Event Date Description
Free Float and Shares In Issue 31 October 2024 Cut date to determine free float changes in
Changes Cut Date excess of 3% and cumulative shares in issue
changes in excess of 1%.
Ranking Cut Date 25 November 2024 Market capitalisation snapshot for ranking
and selection purposes.
Indicative Free Float 25 November 2024 Publication of the indicative free float
changes.
Review ICA 04 December 2024 Review additions, deletions and weighting
changes published.
FTSE/JSE AC Meeting 05 December 2024 FTSE/JSE Advisory Committee Meeting.
Capping Cut Date 13 December 2024 Closing prices snapshot for portfolio factor
calculation.
Portfolio Factors 17 December 2024* Publication of portfolio factors for capped,
equally weighted and fundamental weighted
indices.
Effective Date 23 December 2024 Review changes applied from start of trading.
*Portfolio Factors Publication: Please note that a market notice was published on 30 October 2021 pertaining to the Final availability of FTSE/JSE
Capping Factors on the JSE Website. The notice can be accessed here.
Thursday 31 October 2024: Cut-off date for new information. Information available prior to the end of day on 31
October 2024 will be considered when determining December's shares and free float updates.
Friday 22 November 2024: The shares and float files will be released (and will be available on the FTSE/JSE website
on 25 November 2024). 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 22 November
and 06 December. These files are strictly indicative until end of day on 06 December 2024 and are subject to daily
changes.
The FTSE/JSE index review files will also be released on Wednesday 04 December 2024.
Monday 25 November to Friday 06 December 2024: Query period. Clients are welcome to query the data visible
within the files between 25 November 2024 and end of day on 06 December 2024.
The quarterly updates will be considered final at end of day on Friday 06 December 2024.
Monday 09 December 2024: Effective start of trading on 09 December 2024, the scheduled changes will be "locked
down" across the FTSE/JSE Indexes, with no further corrections applied this quarter*.
*During the quarterly review / annual reconstitution lock-down period, FTSE Russell will generally avoid implementing corrections to ensure stability
during the period prior to the review / reconstitution implementation. However egregious shares and free float errors discovered within the lock-down
period or during the week following the review / reconstitution may be corrected if an erroneous change compromises the replicability of the index OR
if the change places potential price pressure on the company OR if there is a material error of 50% or greater (relative) to index shares. Any corrections
during the lock-down period or the week following the review will be implemented with appropriate notice. All other shares and free float errors will be
corrected at the following quarterly index review.
Monday 23 December 2024: From start of trading on 23 December 2024 the quarterly changes will become effective
across the FTSE/JSE indexes.
Additional Clarifications
Stocks Suspended during the Review Period: Constituents which are suspended on Friday 06 December 2024*
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+5 after the review effective date, at the earliest,
upon resumption of trade.
If an active constituent suspends on or prior to Thursday 19 December 2024*, the scheduled review changes will
be reversed and applied T+5 after the resumption of trade (T+5 after the review effective date, at the earliest). For
securities that suspend on the Friday prior to the review effective date, the review changes will proceed as previously
communicated**.
CORPORATE
*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 December 2024.
Please note that Section 4.2 of the FTSE Russell Index Policy for Trading Halts and Market Closures guideline was updated on 4 Dec 2023. The notice
can be accessed here.
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 which would
ordinarily become effective at the open on the Tuesday - Friday prior to the review will instead be implemented
simultaneously in conjunction with the review effective date on 23 December 2024 (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
Thursday 31 October Shares and Float cut-off date
Friday 22 November to Friday 06 December Shares in issue and free float changes published
Wednesday 04 December The review files will be published
Monday 25 November to Friday 06 December Query period
Monday 09 December Lock down period commences from the open
Monday 23 December 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 +61 (0) 2 7228 5659
Hong Kong +852 2164 3333
Japan +81 3 6441 1430
London +44 (0) 20 7866 1810
New York +1877 503 6437
Alternatively please visit our website at lseg.com/ftse-russell
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Date: 05-08-2024 05:35:00
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