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CORESHARES INDEX TRACKER MANAGERS (RF) PROPRIETARY LIMITED - Finalisation announcement - Results of second ballot voting procedure in respect of tha amendment of PTXTEN

Release Date: 10/10/2019 10:44
Code(s): PTXTEN PTXSPY     PDF:  
 
Wrap Text
Finalisation announcement - Results of second ballot voting procedure in respect of tha amendment of PTXTEN

CoreShares Index Tracker Managers (RF) Proprietary Limited
CoreShares PropTrax 10 ETF
Share code: PTXTEN
ISIN: ZAE000155362

CoreShares PropTrax SAPY ETF
Share code: PTXSPY
ISIN: ZAE000101911

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 (“CoreShares”).

FINALISATION ANNOUNCEMENT - RESULTS OF SECOND BALLOT VOTING PROCEDURE IN
RESPECT OF (1) THE AMENDMENT OF THE INVESTMENT POLICY OF THE CORESHARES
PROPERTY TOP TEN EXCHANGE TRADED FUND (“PTXTEN”)

Investors are referred to the announcement released on SENS on 12 August 2019 regarding the
ballot voting procedures in respect of the amendment of the investment policy of the PTXTEN and are
advised that the audited results of the second voting ballot procedures were as follows:

1. Summary of Votes: Amendment to investment policy of PTXTEN

                              Total         Total        Responses in          Responses
                              responses     received     favour of the         against the
                              not                        amendment to          amendment to
                Total units   received                   Investment policy     Investment policy
                                                         of PTXTEN             of PTXTEN

Units     per   16 739 868    14 832 666    1 907 202         1 829 644               77 558
shareholder
register (#)

% of total        100%         88.61%        11.39%
units
%        of                                                    95.93%                 4.07%
responses
received

CoreShares is regulated by the Financial Sector Conduct Authority (formerly the Financial Services
Board). In terms of Section 98(2) of the Collective Investment Schemes Control Act of 2002 and
clause 67 of the Main Deed of the Scheme, investor consent is required to effect the proposed
amendment, which allow for the following:

•    Investors holding no less than 25% in value of the total number of participatory investors in the
     Portfolio, excluding CoreShares, must respond to the ballot voting request, for it to be successful
     (Clause 67.1 of Main Deed).
•    If the majority of those who have responded to the ballot, have voted in favour, then the
     amendment will be successful.
•    Where less than 25% of investors respond, a second ballot must be conducted where only the
     majority result of those who have responded, will determine whether the amendment will be
     successful or not i.e. 25% quorum is not required (Clause 67.3 of Main Deed).

The second ballot conducted did not require a 25% quorum and the majority of the investors
who responded to the second ballot have voted in favour, accordingly the Amendments is
successful.

Special interim distribution
As part of the implementation of the Amendments, a special interim distribution (if any) will be
declared and paid to previous investors of both the CoreShares PropTrax Ten and CoreShares
PropTrax SAPY ETFs. The timeline for the special interim distributions is included below.

The implementation of the Amendments will therefore continue on the same timeline announced on
12 August 2019, the remaining items of which are included below, for ease of reference:


     Timeline for the implementation of the Amendments                                              2019

     Results of second ballot and finalisation data announcement                     Thursday, 10 October

     FSCA to advise CoreShares to submit signed supplemental deeds                 Wednesday, 16 October
     for approval

     Determination of CoreShares PropTrax SAPY ETF final conversion                    Monday, 28 October
     ratio at market close on

     Announcement of final conversion ratio of CoreShares PropTrax                    Tuesday, 29 October
     SAPY ETF on SENS before 11:00

     Last Day to Trade in the CoreShares PropTrax Ten ETF, in respect                 Tuesday, 29 October
     of the special interim distribution, amendment of the investment
     policy and the name change to the new CoreShares SAProp
     Income ETF

     Last Day to Trade in the CoreShares PropTrax SAPY ETF, in                        Tuesday, 29 October
     respect of the special interim distribution and the amalgamation/
     conversion to the new CoreShares SAProp Income ETF

     Suspension of trading of the CoreShares PropTrax Ten ETF on the               Wednesday, 30 October
     JSE

     Suspension of trading of the CoreShares PropTrax SAPY ETF on                  Wednesday, 30 October
     the JSE

     Commencement of trading in the CoreShares SAProp Income ETF                   Wednesday, 30 October
     on the JSE (New ISIN: ZAE000273165; Share Code:CSPROP)

     Announcement of any fractional entitlement in respect of the                    Thursday, 31 October
     amalgamation/ conversion of the CoreShares PropTrax SAPY ETF
     to the new CoreShares SAProp Income ETF before 11:00 on

     Announcement of special interim distribution rate to holders of the             Thursday, 31 October
     CoreShares PropTrax SAPY ETF

     Announcement of special interim distribution rate to holders of the             Thursday, 31 October
     CoreShares PropTrax Ten ETF

     Record date                                                                       Friday, 1 November

     Accounts of dematerialised securities holders updated at their                   Monday, 4 November
     CSDPs or brokers

     Termination of trading of CoreShares PropTrax Ten and                           Tuesday, 5 November
     CoreShares PropTrax SAPY ETFs on the JSE

     Payment of fractional entitlements to security holders of                       Friday, 08 November
     CoreShares PropTrax SAPY ETFs

     Payment of special interim distribution to previous holders of the                Friday, 08 November
     CoreShares PropTrax SAPY ETF

     Payment of special interim distribution to previous holders of the                 Friday, 08 November
     CoreShares PropTrax Ten ETF

   Note: Any changes to the dates above will be announced on SENS.


   1. Notice and restrictions


       CoreShares South African Property Income ETF participatory interests are not in any way
       sponsored, endorsed, sold or promoted by the JSE or S&P Dow Jones Indices (“S&P”) and
       none of these parties makes any warranty or representation whatsoever, expressly or implied,
       either as to the basis of calculation of, or as to the results to be obtained from the use of the
       South Africa Property Income Index and/or the value at which the said Index stands at any
       particular time on any particular day or otherwise. The Index is compiled and calculated on
       behalf of and on the instructions of CITM by S&P. However, S&P shall not be liable (whether
       in negligence or otherwise) to any person for any error in the index and S&P shall not be
       under any obligation to advise any person of any error therein.


       The securities being issued pursuant to this announcement are not eligible for sale in the
       United States or in any other jurisdiction in which trading in the securities would be illegal. The
       securities have not been, and will not be, registered under the U.S. Securities Act of 1933, as
       amended, and the U.S. Commodity Futures Trading Commission under the U.S. Commodity
       Exchange Act has not approved trading in the securities. The securities may not be offered,
       sold or delivered within the United States or to U.S. persons, nor may any U.S. person at any
       time trade or maintain a position in the securities.


Should you require any further assistance please send an email to info@coreshares.co.za


10 October 2019


Corporate advisor and sponsor:           Grindrod Bank Limited
Trustee:                                 Société Générale




                                                    

Date: 10/10/2019 10:44:00
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