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Listing of Sygnia Itrix New China Sectors ETF Participatory Interests
The Sygnia Itrix Collective Investment Scheme in Securities
Sygnia Itrix New China Sectors ETF
JSE code: SYGCN
Short name: SYGNEWCN
ISIN code: ZAE000309159
(“SYGCN”)
A portfolio in the Sygnia Itrix Collective Investment Scheme in Securities, registered
as such in terms of the Collective Investment Schemes Control Act, 45 of 2002.
Listing of Sygnia Itrix New China Sectors ETF Participatory Interests
The information as it appears below has been extracted from the Programme Memorandum
in respect of the Sygnia Itrix Collective Investment Scheme in Securities and the
Supplement relating to the Sygnia Itrix New China Sectors ETF and utilises the terms
and definitions contained therein unless otherwise specified.
1. Introduction
The JSE Limited (“JSE”) has approved the listing on the Main Board of the JSE,
participatory interests in the Sygnia Itrix New China Sectors ETF which aims to track
the S&P New China Sectors Index and is an ETF in the Sygnia Itrix Collective Investment
Scheme in Securities and shall be managed by Sygnia Itrix (RF) Propriety Limited
2. The New China Sectors Index
The S&P New China Sectors Index measure the performance of China- and Hong Kong-
domiciled companies in consumption and service-oriented industries. All Chinese share
classes including A-shares and offshore listings are eligible for inclusion.
Historically, China’s growth has been driven by companies in the banking, natural
resources, and manufacturing sectors—many of which are state-owned enterprises.
However, as China’s economy matures, consumption and service-related industries are
becoming structurally more important. Because the country’s stock market continues to
have significant exposure to these “old economy” sectors, many market participants are
seeking alternative index solutions to participate more directly in China’s fastest
growth areas.
S&P DJI reviews Designated Listings on an annual basis and any changes are implemented
after the close of the third Friday of September. The last trading day in July is used
as the reference date for the liquidity and market capitalization data. If less than
one year of trading data is available as of the reference date, then all available
data is used. S&P DJI reserves the right to review and update the Designated Listing
more frequently based on market conditions.
3. General
The Programme Memorandum and the Supplement document are available during normal
business hours at the registered office of the Manager, 7th Floor, The Foundry, Cardiff
Street, Green Point, Cape Town, 8001 from Thursday, 3 March 2022. The Programme
Memorandum and the Supplement will also be available on the Manager’s website
www.sygnia.co.za.
4. Salient dates and times
SENS announcement of approval of listing at 17:00 on: Thursday, 24 March 2022
Opening date of the initial offer at 09:00 on: Friday, 25 March 2022
Closing date of the initial offer at 12:00 on* Thursday, 31 March 2022
Letters of allocation issued Friday, 01 April 2022
Settlement of Letters of Allocation+ Monday, 04 April 2022
Publication of announcement on SENS as to the results of the
initial offer at 12:00 on: Monday, 04 April 2022
Ramp up period in respect of cash subscriptions commences
at 09:00 on: Wednesday, 06 April 2022
Ramp up period in respect of cash subscriptions closes
at 12:00 on:** Wednesday, 13 April 2022
Publication of conversion ratio by 11:00 on: Thursday, 14 April 2022
Listing date in respect of in specie and cash
subscriptions at 09:00 on Wednesday, 20 April 2022
*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.
**The duration of the Ramp-Up Period may be extended depending on prevailing market
liquidity, in which event the Listing Date in respect of Cash Subscriptions will occur
on a later date.
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 Sygnia Itrix New China Sectors ETF participatory interests in the CSDP
accounts in accordance with the conversion ratios to be published on SENS on Thursday,
14 April 2022.
Sygnia Itrix New China Sectors ETF participatory interests 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 Sygnia Itrix New China Sectors ETF participatory interests.
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 Sygnia Itrix New China Sectors ETF participatory interests
will be treated as primary market acquisitions.
• All subscribers for Sygnia Itrix New China Sectors ETF participatory interests 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 Sygnia Itrix New China Sectors ETF participatory
interests, you must contact your JSE accredited broker.
5.3 The Issue Price of a Sygnia Itrix New China Sectors ETF Participatory Interest
The issue price of each Sygnia Itrix New China Sectors ETF participatory interests
will be the cost of acquiring the underlying portfolio less any applicable costs,
divided by the number of participatory interests.
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 settled by a payment in cash in Rands or via an in-specie
subscription.
5.5 Minimum Subscriptions
The minimum cash subscription amount is R10 000.
The Sygnia Itrix New China Sectors ETF is an open-ended fund and hence there is no
maximum amount regarding the Sygnia Itrix New China Sectors ETF participatory interests
available for purchase.
Participatory interests will be issued in dematerialised form only.
24 March 2022
Corporate Adviser and Sponsor
Vunani Sponsors
Date: 24-03-2022 05:00:00
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,
information disseminated through SENS.
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