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CORESHARES INDEX TRACKER MANAGERS (RF) PROPRIETARY LIMITED - Fraction rate announcement in respect of the Amendments to PTXTEN and PTXSPY

Release Date: 31/10/2019 10:15
Code(s): CSPROP PTXSPY     PDF:  
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Fraction rate announcement in respect of the Amendments to PTXTEN and PTXSPY

CoreShares Index Tracker Managers (RF) Proprietary Limited
CoreShares PropTrax SAPY ETF
Share code: PTXSPY
ISIN: ZAE000101911

CoreShares SAProp Income
Share Code: CSPROP
ISIN: ZAE000273165
(previously)
CoreShares PropTrax 10 ETF
Share code: PTXTEN
ISIN: ZAE000155362


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”).

FRACTION RATE ANNOUNCEMENT IN RESPECT OF THE AMENDMENTS TO THE
CORESHARES PROPERTY TOP TEN EXCHANGE TRADED FUND (“PTXTEN”) AND THE
CORESHARES PROPTRAX SAPY ETF (“PTXSPY”)

Investors are referred to the announcements released on SENS on 10 October 2019 regarding the
successful outcome of the second ballot voting procedures in relation to the Amendments and on
Tuesday, 29 October advising of the final conversion ratio for CoreShares PropTrax SAPY ETF,
determined as at market close on Monday, 28 October 2019.


CoreShares PropTrax SAPY ETF investors are further advised that in addition to the to the 3.15965
CoreShares SAProp Income ETF securities they are entitled to, they will be paid a fractional entitlement
in the instance where fractional ETF securities cannot be issued. This will be equivalent to the fraction
each individual is entitled to multiplied by the issue price of the Property Top Ten ETF security
determined as at market close on Monday, 28 October 2019. The cash fraction rate payment will by
paid by the fund and no securities will be sold in the market to fund the cash fraction rate payment.


The conversion ratio is 3.15965 per security and has been calculated at the issue prices of R47.10590
and R14.90860 per one CoreShares PropTrax SAPY ETF and one CoreShares Property Top Ten ETF
security, respectively as at market close on Monday, 28 October 2019.


Example of fractional entitlement
Assuming an investor holds 1 CoreShares PropTrax SAPY ETF on Friday 1 November 2019 (Record
date), the investor will receive 1 *3.15965= 3.15965 CoreShares PropTrax Ten ETF securities. This is
rounded down to 3 securities. The fraction of 0.15965 securities is paid at the fraction rate 0.15965
multiplied by issue price R14.90860 per security = R2.38per security.




                                                   
 Number             of   Number of PropTrax       Number of PropTrax       Fractional          Cash
 CoreShares              Ten ETF securities       Ten ETF securities       Entitlement         Payment
 PropTrax      SAPY      due        as      per   Issued                   (ETF Securities
 ETF        Securities   Conversion Ratio                                  Due       -   ETF
 Held                                                                      Securities
                                                                           Issued)
                                                                                               R2.38
 1                       3.15965                  3                        0.15965
                                                                                               R8.89
 10                      31.59650                 31                       0.59650
                                                                                               R14.64
 50                      157.98250                157                      0.98250
                                                                                               R12.29
 500                     1 579.82500              1 579                    0.82500
                                                                                               R3.72
 5 000                   15 798.25000             15 798                   0.25000


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


31 October 2019


Corporate advisor and sponsor:              Grindrod Bank Limited


                                                       
Trustee:   Société Générale




                   

Date: 31/10/2019 10:15:00
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