THE DB X-TRACKER COL INVEST SCHEME - Disposal of all of the issued shares in db x-trackers (RF) Proprietary Limited to Sygnia Limited

Disposal of all of the issued shares in db x-trackers (RF) Proprietary Limited to Sygnia Limited

The db X-trackers Collective Investment Scheme
db X-trackers DJ EURO STOXX 50 INDEX ETF
JSE code: DBXEU
ISIN: ZAE000115937
db x-trackers FTSE 100 Index ETF
JSE code: DBXUK
ISIN: ZAE000115929
db X-trackers MSCI Japan Index ETF
JSE code: DBXJP
ISIN: ZAE000115176
db X-trackers MSCI USA Index ETF
JSE code: DBXUS
ISIN: ZAE000115192
db x-trackers MSCI World Trust
JSE code: DBXWD
ISIN: ZAE000115184

DISPOSAL OF ALL OF THE ISSUED SHARES IN DB X-TRACKERS (RF) PROPRIETARY
LIMITED (“DBX”) BY DEUTSCHE GROUP HOLDINGS (SA) PROPRIETARY LIMITED (“The
Company”) TO SYGNIA LIMITED (“Sygnia”)

INTRODUCTION

DBX is a Collective Investment Scheme Management company, which offers
a range of exchange traded funds (“ETFs”) established under the db x-
trackers Collective Investment Scheme referencing offshore assets listed
on the JSE (the “DBX ETF securities”).

Holders of DBX ETF securities are referred to the announcement released
by Sygnia on SENS on 30 March 2017 and are advised that the Company,
being an indirect wholly owned subsidiary of Deutsche Bank AG
incorporated in the Federal Republic of Germany (“Deutsche Bank”), has
entered into a sale of shares agreement with Sygnia, a company listed
on the JSE, to dispose all of the issued shares in DBX (the “Disposal”)
subject to the suspensive conditions set out below.

From an existing DBX ETF security holder’s perspective the Disposal will
not, in any manner, affect the way in which their investments are
managed. The Disposal, when concluded, will result in the ETFs and the
existing DBX ETF securities holders being serviced by a credible
financial services company which has the relevant experience,
operational infrastructure, legal and compliance expertise and financial
resources to operate a South African management company, so as to ensure
that their interests are protected at all times.

SUSPENSIVE CONDITIONS


The Disposal is subject to the fulfilment of the following suspensive
conditions by no later than 31 August 2017:
  -   Approval by the Competition Authorities; and
  -   Approval by the Registrar of Collective Investment Schemes.


The effective date of the Disposal is expected to be before or on 31
August 2017. DBX will become a wholly owned subsidiary of Sygnia and
will align its memorandum of incorporation with that of Sygnia's other
subsidiaries and in compliance with the Listings Requirements.

RATIONALE FOR THE DISPOSAL

The Disposal of DBX is part of Deutsche Bank’s global strategy to focus
its resources on a smaller number of core areas where it can add most
value to clients. In this regard Deutsche Bank remains committed to South
Africa and its core, well established, investment banking franchise in
South Africa.


30 March 2017

Manager
db X-trackers (RF) Proprietary Limited

Sponsor
Vunani Corporate Finance

Date: 30/03/2017 02:01:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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