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Informative Notice – 20220919 Review Timetable Informative Notice - September 2022
September 2022 Shares and Free Float Updates – Timetable
FTSE/JSE Index Series
02 August 2022
The FTSE/JSE Africa Index Series will be reviewed during September 2022. The review timetable is as follows:
Event Date Description
Free Float and Shares In 12 August 2022 Cut date to determine free float
Issue Changes Cut Date changes in excess of 3% and
cumulative shares in issue changes
in excess of 1%.
Ranking Cut Date 22 August 2022 Market capitalisation snapshot for
ranking and selection purposes.
Indicative Free Float 22 August 2022 Publication of the indicative free
float changes.
Review ICA 31 August 2022 Review additions, deletions and
weighting changes published.
FTSE/JSE AC Meeting 01 September 2022 FTSE/JSE Advisory Committee
Meeting.
Capping Cut Date 09 September 2022 Closing prices snapshot for portfolio
factor calculation.
Portfolio Factors 12 September 2022* Publication of portfolio factors for
capped, equally weighted and
fundamental weighted indices.
Please See additional
clarification below.
Effective Date 19 September 2022 Review changes applied from start
of trading.
*Portfolio Factors Publication: Please note that a market notice was published on 30 April 2021 pertaining to the Final
Availability of FTSE/JSE Capping Factors on the JSE Website. The notice can be accessed here
Friday 12 August 2022: Cut-off date for new information. Information available prior to the end of day on 12
August 2022 will be considered when determining September’s shares and free float updates.
Friday 19 August 2022: The shares and float files will be released on 19 August 2022 (and will be available on
the FTSE/JSE website on 22 August 2022). Clients are welcome to query the data included within these files and
FTSE Russell will review appropriately. Any changes will be visible within the files which will be published daily between
19 August and 02 September 2022. These files are strictly indicative until end of day on 02 September 2022
and are subject to daily changes.
The FTSE/JSE Index Review files will be released on Wednesday 31 August 2022.
Friday 19 August to Friday 02 September 2022: Query period. Clients are welcome to query the data visible
within the files between 22 August 2022 and end of day on 02 September 2022.
The quarterly updates will be considered final at end of day on Friday 02 September 2022.
Monday 05 September 2022: Effective start of trading on 05 September 2022, the scheduled changes will be
“locked down” across the FTSE/JSE Indexes, with no further corrections applied this quarter*.
*During the quarterly review / annual reconstitution lock-down period, FTSE Russell will generally avoid implementing corrections to ensure stability during
the period prior to the review / reconstitution implementation. However egregious shares and free float errors discovered within the lock-down period or
during the week following the review / reconstitution may be corrected if an erroneous change compromises the replicability of the index OR if the change
places potential price pressure on the company OR if there is a material error of 50% or greater (relative) to index shares. Any corrections during the lock-
down period or the week following the review will be implemented with appropriate notice. All other shares and free float errors will be corrected at the
following quarterly index review.
Monday 19 September 2022: From start of trading on 19 September 2022 the quarterly changes will become
effective within the FTSE/JSE Indexes.
Additional Clarifications
Stocks Suspended during the Review Period: Constituents which are suspended on Friday 02 September
2022* will not have their scheduled review changes implemented regardless of a resumption of trade prior to the
review effective date. The scheduled review changes will be implemented T+5 after the review effective date, at the
earliest, upon resumption of trade.
If an active constituent suspends on or prior to Tuesday 13 September 2022, the scheduled review changes will
be reversed and applied T+5 after the resumption of trade (T+5 after the review effective date, at the earliest). If a
suspension occurs on 14 September 2022, 15 September 2022 or 16 September 2022, the review changes will
proceed as previously communicated**.
*If there is a confirmed resumption of trade date which occurs prior to the review effective date, the review changes
will proceed as scheduled.
**in exceptional circumstances, it may be deemed necessary to reverse the review changes when a company
suspends on 14, 15 or 16 September 2022.
Equity Offerings: In accordance with standard methodology, primary and secondary offerings will continue to be
applied with two days’ notice when discovered after the review announcement date. However, offerings which would
ordinarily become effective at the open on the Tuesday - Friday prior to the review will instead be implemented
simultaneously in conjunction with the review effective date on 19 September 2022 (open). Offerings discovered
on the Thursday and Friday prior to the review will be implemented with two days’ notice and therefore subsequent
to the review.
Timetable Summary
Date Action
Friday 12 August Shares and Float cut-off date
Friday 19 August to Friday 02 September Shares in issue and free float changes published
Wednesday 31 August The review files will be published.
Friday 19 August to Friday 02 September Query period
Monday 05 September Lock down period commences from the open
Monday 19 September Index review effective from the open
Should you require further information, please refer to the FTSE/JSE Ground Rules available at the link below or
contact the JSE on +27 11 520 7000 or info@jse.co.za
FTSE/JSE Ground Rules
For further information please contact FTSE Russell Client Services at info@ftserussell.com or indices@jse.co.za or call:
Australia +1800 653 680
Hong Kong +852 2164 3333
Japan +81 3 6441 1440
London +44 (0) 20 7866 1810
New York +1866 551 0617
JSE Limited +27 11 520 7000
Alternatively please visit our website at www.ftserussell.com or www.ftsejse.co.za
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Date: 02-08-2022 05:35:00
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