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Intention to delist from the Botswana Stock Exchange (BSE) - CSEW40
CoreShares Index Tracker Managers (RF) Proprietary Limited
CoreShares Equal Weight Top 40 ETF
Share code: CSEW40
ISIN: ZAE000217139
("CS40")
This announcement pertains to the Botswana listing only
A portfolio in the CoreShares Index Tracker Collective Investment Scheme registered as such in
terms of the Collective Investment Schemes Control Act, 45 of 2002, managed by CoreShares Index
Tracker Managers (RF) Proprietary Limited (the Manager).
UNITHOLDERS IN THE CORESHARES EQUAL WEIGHT TOP 40 ETF SHOULD NOTE THE BELOW
INTENTION TO DELIST FROM THE BOTSWANA STOCK EXCHANGE (BSE)
Holders of CoreShares Equal Weight Top 40 (CS40) ETF securities on the BSE are advised that the
Manager has taken the decision to delist the CS40 ETF from the BSE, cancel all units on the Botswana
register and to distribute all capital and income to holders of CS40 ETF securities to holders on that
exchange, in terms of section 55 of the Main Deed.
Background: The Manager initially took over the ETF from its previous scheme (the Betta Beta
Collective Investment Scheme managed by Nedbank) in 2016 however, since then the ETF has suffered
withdrawals from its anchor investor on the BSE. The current market capitalisation on the BSE does
not justify an ongoing listing on the exchange and we do not foresee the business case changing in the
short term.
Holders of CS40 securities will not be prejudiced in any way as they will be paid all capital and accrued
income (effectively, the Net Asset Value of each CS40 security) for the units they owned on record
date which is also the cancellation date, should they not trade out of their positions or move their
listing to the JSE in advance. The amounts of capital and income in question will be announced on the
Finalisation Date as per the table below, based on the values as at close of business on the Record
Date. The process may trigger a Capital Gains Tax event. Investors are required to contact their
personal tax adviser for further assistance in this regard.
Should holders wish to retain their units they may transfer their units to the primary listing on the JSE
Securities Exchange. To do this, they should contact their local BSE stock broker and CSDB. A
withdrawal form (http://www.bse.co.bw/docs/CSD_Withdrawal_form.pdf) would have to be
completed and submitted. The process can take between one and three business days to complete,
once all other requirements have been fulfilled. Clients should also note that there are distributions
due to unitholders. A unit transfer done before the record date of the distribution will not be entitled
to that distribution. Please note that these transfers should be completed before the record date of
the cancellation.
Clients will also be afforded the opportunity to sell their units before the last day to trade (as per the
table below) in the general market or to the market maker. Clients trading with the market maker will
incur additional charges to the default option to compensate the market maker for capital-, market
risk-, foreign exchange- and stock broking charges.
The timetable for the delisting and cancellation would work as follows:
Announcement 27 July 2018
Last Day to Trade 21 August 2018
Delisting date from the BSE 22 August 2018
Record Date 24 August 2018
Cancellation of units 24 August 2018
Finalisation Announcement 27 August 2018
Payment Date 30 August 2018
CLIENTS IN ANY DOUBT OF THE APPROPRIATE ACTION TO BE TAKEN SHOULD PLEASE CONSULT
APPROPRIATE INDEPENDENT ADVISORS.
For any additional information, please contact your local BSE broker or the sponsoring broker.
Sponsoring Broker: Thato Senau, Client Liaison - African Alliance Botswana Securities, +267 364 3912,
senaut@africanalliance.bw
Transfer Secretary, Botswana: Nonofo Phalatse, CSD Administrator – CSD Botswana Stock Exchange,
+267 367 4411, nphalatse@bse.co.bw
Transfer Secretary, South Africa: Leon Naidoo, Investor Services – Computershare, +27 11 370 5334,
leon.naidoo@computershare.co.za
ETF Manager: Wion Flett, Head of Investments, Risk and ManCo Operations – Coreshares, +27 11 459
1822, wionf@coreshares.co.za
27 July 2018
Date: 27/07/2018 09:00:00 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,
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