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Listing of AMI Big50 ex-SA Participatory Units - AMIB50
Cloud Atlas (RF) Proprietary Limited
The Cloud Atlas Collective Investment Scheme in Securities
AMI Big50 ex-SA ETF
JSE code: AMIB50
ISIN: ZAE000242582
(“AMI Big50 ex-SA”)
A portfolio in the Cloud Atlas Collective Investment Scheme in
Securities, registered as such in terms of the Collective Investment
Schemes Control Act, 45 of 2002.
Listing of AMI Big50 ex-SA Participatory Units
The information as it appears below has been extracted from the
Programme Memorandum and the Supplement relating to the AMI Big50
ex-SA ETF and utilises the terms and definitions contained therein.
1. Introduction
The JSE Limited (“JSE”) has approved the listing on the Main Board
of the JSE, Participatory Units in the AMI Big50 ex-SA ETF which
aims to track the AMI Big50 ex-SA Index and is an ETF in the Cloud
Atlas Collective Investment Scheme in Securities.
2. The AMI Big50 ex-SA Index
The AMI Big50 ex-SA Index is a market capitalisation weighted index
designed to serve as a benchmark for a broader representation of the
African equity markets, excluding South Africa.
In order to be eligible for inclusion in the AMI Big50 ex-SA Index a
company must be listed on an African exchange that is a member of
the African Securities Exchange Association (“ASEA”). The current
ASEA member exchanges are seen on http://www.african
exchanges.org/members/.
Further criteria for eligibility in the AMI Big50 ex-SA Index is
that the securities exchange must:
- Be operational and have been operational for over 15 years;
- Have over 10 tradable stocks; and
- Have readily available data on the traded securities.
Currently 15 African exchanges, excluding South Africa, are eligible
to have constituents listed on such exchange for inclusion in the
AMI Big50 ex-SA ETF. The full list of eligible exchanges is
contained in the Programme Memorandum.
3. General
The portfolio will be managed by Cloud Atlas (RF) Proprietary
Limited (“the Manager”), a private company duly incorporated in
accordance with the laws of South Africa on 14 May 2013. The Manager
has obtained permission to use the name and track the Index. The
Programme Memorandum and the Supplement document are available
during normal business hours at the registered office of the
Manager, Ground Floor Grosvenor Gate, Hyde Park Lane, corner Jan
Smuts and William Nicol drive, Hyde Park from Monday, 27 March 2017.
The Programme Memorandum and the Supplement will also be available
on the Manager’s website www.cloudatlasinvesting.com.
4. Salient dates and times
2017
Opening Date of the Initial Offer at 09:00 on: Monday, 27 March
Closing Date of the Initial Offer at 12:00 on:* Friday, 31 March
Letters of allotment issued:† Monday, 3 April
Ramp up period in respect of Cash Subscriptions Monday, 3 April
commences
Ramp up period in respect of Cash Subscriptions Thursday, 13 April
ends no later than:
Publication of announcement on SENS as to the Tuesday, 18 April
results of the Initial Offer:
Publication of conversion ratios: Tuesday, 18 April
Listing date: Thursday, 20 April
* Applicants should contact their broker or CSDP to ascertain the
timing for submission of applications as this will vary dependent
on the broker or CSDP in question.
† One letter of allotment will be issued for every Rand subscription
against a subscriber’s CSDP or broker account being debited with
the Rand amount. Once the Baskets of ETF Constituents have been
acquired, Strate will convert the letter of allotment to AMI Big50
ex-SA Participatory Units in the CSDP accounts in accordance with
the conversion ratios to be published on SENS on Tuesday, 18 April
2017.
AMI Big50 ex-SA Participatory Units will be issued in dematerialised
format only.
5. The Initial Offer
The Initial Offer is an initial public offering to investors regarding
an investment in AMI Big50 ex-SA Participatory Units.
The Initial Offer is not an offer in any jurisdiction in which it is
illegal to make this Initial Offer and in those circumstances the
Programme Memorandum and Supplement are issued for information
purposes only.
5.1 Conditions of the Initial Offer
- Once an application has been submitted it is irrevocable and as
such may not be withdrawn.
- All subscriptions for AMI Big50 ex-SA Participatory Units will be
treated as primary market acquisitions.
- All subscribers for AMI Big50 ex-SA Participatory Units must have
a valid account with a broking member of the JSE. Subscribers
that do not have an account with a JSE member can contact any
broker registered with the JSE to open an account. A list is
available on the JSE website being www.jse.co.za.
5.2 Participating in the Initial Offer
To participate in the Initial Offer for AMI Big50 ex-SA Participatory
Units, you must contact your JSE accredited broker. If you do not have
a broker then contact the Participating Broker, the details of which
are set out on the inside front cover of the Programme Memorandum and
the Supplement.
5.3 The Issue Price of a CA Participatory Unit
The issue price of each AMI Big50 ex-SA Participatory Unit will be the
cost of acquiring the underlying portfolio less any applicable costs,
divided by the number of Participatory Units.
5.4 Discharging the Issue Price during the Initial Offer
The price payable by an investor if he subscribes for securities
during the period of the Initial Offer may be only settled by a payment
in cash in Rands.
5.5 Minimum Subscriptions
The AMI Big50 ex-SA ETF is an open ended fund and hence there is no
maximum amount regarding the AMI Big50 ex-SA Participatory Units
available for purchase.
In respect of cash subscriptions, there is no minimum subscription
amount, however an investor should be able to buy at least one AMI
Big50 ex-SA Participatory Unit.
Participatory interests will be issued in dematerialised form only.
27 March 2017
Corporate Adviser and Sponsor
Vunani Corporate Finance
Date: 27/03/2017 08:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
