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Index Change Advice – 20180925 FTSE JSE Ground Rules Update Review Schedule
FTSE/JSE Africa Index Series
Ground Rule Update: Review Schedule
26 July 2018
FTSE/JSE would like to inform clients of the following updates to the FTSE/JSE Africa Index Series Ground
Rules which is effective immediately.
New Rules
Section 4: Index Construction
4.3.7 Free Float Review
Free float will be calculated using available published information rounded to 12 decimal places.
Underlying data for the calculation of free float is collected on an ongoing basis, and the detailed
free float percentage as maintained by the JSE is updated accordingly.
June Updates
In June, a constituent’s free float will be updated regardless of size. No buffers are applied. The
data cut-off for the June changes will usually be at the close of business on the Friday
five weeks prior to the implementation date. Any change to this cut-off date will be
subject to advanced notification.
March, September and December Updates
At the March, September and December quarterly updates, a constituent with a free float of
greater than 15% will have their free float updated if it moves by more than 3 percentage points
above or below the existing free float. For example, Company A on a free float of 30% would
trigger a change if its free float moved to above 33% or below 27%.
A constituent with a free float of 15% or below will be subject to a 1 percentage point threshold.
For example, Company B on a free float of 8% would trigger a change if its free float moved to
above 9% or below 7%.
Quarterly updates to free float will be applied after the close of business on the third Friday of
March, June, September and December. The data cut-off for these quarterly changes will be the
close of business on the Friday five weeks prior to the implementation date in March,
September and December.
Section 6: Changes to Constituent Companies
6.6.3 Quarterly Updates
In June, a constituent’s shares is updated regardless of size. No buffers are applied. The data
cut-off for the June changes will usually be at the close of business on the Friday five
weeks prior to the implementation date. Any change to this cut-off date will be subject
to advanced notification.
In March, September and December share changes greater than 1% will be updated. The data
cut-off for the March, September, and December changes will be the close of business
on the Friday five weeks prior to the implementation date.
Quarterly updates to shares are applied after the close of business on the third Friday
of March, June, September and December.
An updated copy of the FTSE/JSE Africa Index Series Ground Rules (v5.7) is now available on the FTSE
Russell and JSE websites:
www.ftserussell.com
https://www.jse.co.za/
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
JSE Limited +27 11 520 7000
Alternatively please visit our website at www.ftserussell.com
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Date: 26/07/2018 05:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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