General SENS Submitter Company - Index Change Advice 20191219 FTSE JSE Ground Rules Update

Index Change Advice – 20191219 FTSE JSE Ground Rules Update

              FTSE/JSE Africa Index Series - Ground Rule Update


                                        19 December 2019
FTSE Russell would like to inform clients of the following update to the FTSE/JSE Africa Index Series
which will be effective from the March 2020 index review:




Section 4: Index Construction


4.3.6 Free float review (update highlighted in bold)

        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%.

        For SWIX constituents and constituents treated as foreign in the Index Series, the
        Strate register number will be updated regardless of size. The 1% and 3% thresholds,
        as set out above, will not be applicable.

        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.

        Updates Arising from Corporate Events

        Free float changes resulting from corporate events will not be subject to the buffers as detailed
        above and will be implemented in line with the event.
 An updated copy of the FTSE/JSE Africa Index Series Ground Rules (v6.5) is now available on the JSE
 website: https://www.jse.co.za/

 Or on the FTSE Russell website: www.ftserussell.com



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: 19-12-2019 05:05:00
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