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Implementation of the Change to the FTSE/JSE Capped Resource 10 Index - STXRES
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX RESI PORTFOLIO
JSE Code: STXRES
ISIN: ZAE000078622
("Satrix Resi" or the "ETF")
A portfolio in the Satrix Collective Investment Scheme, registered
as such in terms of the Collective Investment Schemes Control Act,
45 of 2002
IMPLEMENTATION OF THE CHANGE TO THE FTSE/JSE CAPPED RESOURCE 10
INDEX
Holders of Satrix Resi securities are referred to the circular sent
out by the Satrix Collective Investment Scheme on 15 April 2015
(“the Circular”) and the subsequent announcement released on SENS on
Friday, 19 June 2015 (“SENS Announcement”) regarding the proposed
change of the underlying index which the Satrix Resi ETF tracks.
The change to the FTSE/JSE Capped Resource 10 Index (J310) has
become effective as from Monday, 22 June 2015.
As per the SENS Announcement, the implementation of the FTSE/JSE
Capped Resource 10 Index has had no effect on either the number of
issued Satrix Resi securities, or the value of each Satrix Resi
security.
There is however a difference in the closing index levels of the
FTSE/JSE Resi 10 Index and the FTSE/JSE Capped Resource 10 Index
which required that an adjustment be made to the amount that each
Satrix Resi security represents of the FTSE/JSE Capped Resource 10
Index.
Therefore to cater for the difference in the closing index levels a
factor of 2.77536 (“Adjustment Factor”) was calculated based on the
closing index level of the FTSE/JSE Resource 10 Index of 41706.47
relative to that of the FTSE/JSE Capped Resource 10 Index of
15027.41 on close of business on Friday, 19 June 2015.
Previously each Resi security tracking the FTSE/JSE Resi 10 Index
represented 1/1000th of the index level plus an amount which reflects
a pro rata portion of any accrued distribution amount within the
portfolio.
Post the implementation of the new index, each Resi security
tracking the FTSE/JSE Capped Resource 10 Index will now represent
1/1000th of the index level x the Adjustment Factor of 2.77536 (the
adjustment factor) plus an amount which reflects a pro rata portion
of any accrued distribution amount within the portfolio.
22 June 2015
Sponsor
Vunani Corporate Finance
Date: 22/06/2015 05:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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