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NFSWIX - NEWFUNDS SWIX 40 ETF - Initial Offer for NewFunds SWIX 40 ETF
Participatory Interests ("NewFunds securities")
NEWFUNDS SWIX 40 ETF
ABBREVIATED NAME: NEWFNSWIX
SHARE CODE: NFSWIX
ISIN: ZAE000163754
A portfolio in the NewFunds Collective Investment Scheme in Securities
("NewFunds") (established on 21 December 2011 in the Republic of South Africa in
terms of the Collective Investment Schemes Control Act, 45 of 2002)) (the
"portfolio"), managed by NewFunds (Proprietary) Limited (the "Manager")
INITIAL OFFER FOR NEWFUNDS SWIX 40 ETF PARTICIPATORY INTERESTS ("NEWFUNDS
SECURITIES") REFERENCING THE FTSE/JSE AFRICA SHAREHOLDER WEIGHTED TOP 40 INDEX
TOTAL RETURN ("SWIX 40 INDEX"), TO BE LISTED, SUBJECT TO JSE LIMITED ("JSE")
APPROVAL, ON THE MAIN BOARD OF THE JSE IN THE "EXCHANGE TRADED FUNDS" SUB-SECTOR
OF THE EXCHANGE TRADED PRODUCTS SECTOR
This announcement is issued in compliance with section 19.60 of the JSE Listings
Requirements for information purposes only. The information set out below has
been extracted from the NewFunds Offering Circular (dated 3 September 2007),
together with the Applicable Portfolio Supplement, to be issued on 12 January
2012 (the "APS")(collectively, the "circulars"), which are available as set out
below.
1. INTRODUCTION
NewFunds is a collective investment scheme in securities. The securities in the
NewFunds SWIX 40 ETF will track the price and yield performance of the SWIX 40
Index, a total return index tracking the performance of the top 40 companies
listed on the main board of the JSE, but with the weightings adjusted for
foreign and strategic shareholdings. This will be achieved by:
- the issue in ZAR of NewFunds securities in dematerialised form on the terms
and subject to the conditions set out in the circulars, the value of each
of which will be approximately equal to one-thousandth of the SWIX 40 Index
level during the ramp-up period; and
- utilising the cash proceeds from the Initial Offer to acquire the
Constituent Securities (as such term is defined in the APS), which once
acquired will be held by the trustee, The Standard Bank of South Africa
Limited, provided that if cash subscriptions are insufficient to enable the
purchase of one or more entire baskets of Constituent Securities, the
balance of the money paid on application will be returned, subject to the
terms set out in the APS;
- permitting in specie subscriptions by the delivery of a full basket of
Constituent Securities per Block (comprising 1 million NewFunds
securities);
- allowing the holders of NewFunds securities, post listing on the JSE, to
either trade them through the JSE on the secondary market or redeem them in
entire blocks;
- effecting notional quarterly distributions of all income derived from the
Constituent Securities to holders of NewFunds securities and thereafter
reinvesting all such income on securities holders` behalf into the
portfolio by the purchase of additional Constituent Securities, in line
with the SWIX 40 Index methodology.
2. SALIENT DATES AND TIMES AND FURTHER ANNOUNCEMENT
The Initial Offer will be open from 09:00 until 12:00 on Thursday, 12 January
2012.
Letters of Allotment (ZAU000012155) will be issued to successful applicants on
Friday, 13 January 2012 and will convert to NewFunds securities, which will,
subject to JSE approval, be listed on the JSE from commencement of trading on
Thursday, 26 January 2012.
A further announcement containing the results of the Initial Offer, including
the offer price per NewFunds security, will be published on SENS on Wednesday,
18 January 2012.
3. NOTICE
The SWIX 40 Index is calculated by FTSE International Limited ("FTSE") in
collaboration with the JSE. Neither FTSE nor the JSE sponsor, endorse or
promote the NewFunds SWIX 40 ETF.
All copyright in the index values and Constituent Securities list vests in FTSE
and the JSE jointly. The Manager has obtained full license from the JSE to use
such copyright in the establishment of the NewFunds SWIX 40 ETF.
"FTSETrade Mark", "FT-SERegistered" and "FootsieRegistered" are trade marks of
the London Stock Exchange Plc and The Financial Times Limited and are used by
FTSE and the JSE under license. "JSE" is a trade mark of the JSE and is used by
FTSE under licence.
4. AVAILABILITY OF DOCUMENTATION
Copies of the circular, in English, may be obtained during normal business hours
from Absa Capital, Investments, 15 Alice Lane, Sandton (+27 11 895 5517) or on
the website (www.newfunds.co.za).
Johannesburg
12 January 2012
Originator, issuer agent, corporate advisor and sponsor
Absa Capital
(the investment banking division of Absa Bank Limited, affiliated with Barclays
Capital)
Legal Adviser
Webber Wentzel
Date: 12/01/2012 07:42:00 Supplied by www.sharenet.co.za
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