| Mon 30 Jul 2007, 10:52 | | STXDIV - Satrix Dividend Plus - Initial offer anno |
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STXDIV - Satrix Dividend Plus - Initial offer announcement
SATRIX DIVIDEND PLUS
Share code: STXDIV & ISIN: ZAE000102018
A portfolio in the Satrix Collective Investment Scheme ("Satrix") registered as
such in terms of the Collective Investment Schemes Control Act, 45 of 2002 (the
"portfolio"), managed by Satrix Managers (Proprietary) Limited ("Satrix
Managers")
INITIAL OFFER FOR SATRIX DIVIDEND PLUS PARTICIPATORY INTERESTS ("SATRIX
SECURITIES") REFERENCING THE JSE/FTSE AFRICA DIVIDEND PLUS INDEX ("DIVIDEND PLUS
INDEX"), TO BE LISTED ON THE MAIN BOARD OF THE JSE LIMITED ("JSE") IN THE
"EXCHANGE TRADED FUNDS" SECTOR
This announcement is issued in compliance with the Listings Requirements of the
JSE for information purposes only. The information set out below has been
extracted from an offering circular and pre-listing statement (as issued on 15
March 2006) (the "circular"), together with the Third Supplement (the
"supplement") issued on 30 July 2007, which is available as set out below.
1. INTRODUCTION
Satrix is a collective investment scheme in securities, currently
comprising the Satrix 40, Satrix INDI, Satrix FINI, Satrix RESI and Satrix
SWIX Top 40 portfolios. Securities in the new Satrix Dividend Plus
Portfolio will track the price and yield performance of the Dividend Plus
Index, thereby giving investors exposure to the 30 largest listed companies
included in the FTSE/JSE Top 40 or FTSE/JSE Mid-Cap Indices (excluding
property companies), ranked by one-year forecasted dividend yield.
Investors will be entitled to subscribe for participatory interests in
terms of the initial offer:
- in cash, in Rands, the proceeds from the issue of every 1 million
Satrix securities being utilised to acquire one basket of the
securities comprising the Dividend Plus Index ("constituent shares");
or
- in specie, by the delivery of one or more whole baskets of the
constituent shares ("baskets of constituent shares") entitling the
investor to 1 million Satrix securities per basket of constituent
shares delivered.
Participatory interests will be issued in dematerialised form only on the
terms and subject to the conditions more fully described in the circular,
the value of each of which will approximately equal 1/100th of the Dividend
Plus Index level at the time of issue.
Following the listing, securities holders may either trade their securities
on the JSE, redeem them for cash or, in respect of every 1 million Satrix
securities redeemed, redeem them for one basket of constituent shares.
2. SALIENT DATES AND TIMES AND FURTHER ANNOUNCEMENT
The initial offer will remain open from 09:00 on Monday, 30 July 2007 until
12:00 on Friday, 24 August 2007.
LAs will be issued in the name of successful applicants on Monday, 27
August 2007 and will convert to Satrix securities at commencement of
trading on Thursday, 30 August 2007.
A further announcement containing the results of the initial offer
including the issue price will be published on SENS on Wednesday, 29 August
2007.
3. NOTICE
Satrix Managers has been granted permission to use the name "Dividend
Plus".
Satrix participatory interests are not in any way sponsored, endorsed, sold
or promoted by FTSE International Limited ("FTSE"), the London Stock
Exchange Plc (the "LSE") or The Financial Times Limited ("FT") and neither
FTSE nor the LSE nor FT makes any warranty or representation whatsoever,
expressly or implied, either as to the results to be obtained from the use
of the FTSE/JSE Dividend Plus Index ( "the Index") and/or the figure at
which the Index stands at any particular time on any particular day or
otherwise. The Index is compiled and calculated by FTSE in collaboration
with the JSE. However, neither the JSE, FTSE, the LSE nor FT shall be
liable (whether in negligence or otherwise) to any person for any error in
the Index and neither the JSE, FTSE, the LSE nor FT shall be under any
obligation to advise any person of any error therein. "FTSE TM",
"FT-SE(R)" and "Footsie (R)" are trade marks of the LSE and FT and are used
by FTSE and the JSE under licence. "JSE" is a trade mark of the JSE and is
used by FTSE under licence.
The securities being issued 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 trading in securities has
not been approved by the U.S. Commodity Futures Trading Commission under
the U.S. Commodity Exchange Act. 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.
4. DIRECTORS, TRUSTEE AND REGISTERED OFFICE
The directors of Satrix Managers, all of whom are non-executive, are:
Director : Niall Smith
Address : c/o Deutsche Bank AG, Winchester
House, 1 Great Winchester Street,
London, EC2N 2DB, England
Director : Roger Koep
Address : c/o Deutsche Securities (Proprietary)
Limited, 3 Exchange Square, 87 Maude
Street, Sandton, 2196
Director : Pierre Rodrigues
Address : c/o Sanlam Investment Management (Proprietary) Limited
("SIM"), 55 Willie van Schoor Avenue, Belville, Western Cape, 7530
Director : Francois Kellerman
Address : c/o SIM, 55 Willie van Schoor Avenue, Belville,
Western Cape, 7530
The trustee of Satrix, Absa Bank Limited, is located at 6th Floor, Absa
Towers North, 6E1, Johannesburg.
The registered office is located at Three Exchange Square, 87 Maude Street,
Sandown, Sandton, 2146.
5. COPIES OF THE SUPPLEMENT AND THE CIRCULAR
Copies of the supplement, in English, may be obtained during normal
business hours from the registered office as detailed above, from 30 July
2007 until 27 August 2007. A copy of the circular and the supplement will
be available on the website (www.satrix.co.za) during the same period.
6. SUBSCRIPTION CONDITIONS APPLICABLE TO THE INITIAL OFFER
The initial offer is subject to the conditions detailed in the circular as
read with the supplement and as summarised below:
You cannot withdraw an application once submitted. It will be irrevocable.
All subscriptions for new Satrix securities will be treated as primary
market acquisitions. No application forms are required.
All subscribers for new Satrix securities must have a valid account with a
broking member of the JSE.
Subscribers that do not have an account with a JSE member can open an
account with any broker on the JSE. A list of brokers is available on the
JSE website at www.jse.co.za.
Subscribers can also contact Sanlam Private Investments (Proprietary)
Limited ("Sanlam Private Investments"), which has been appointed as the
participating broker to assist first time retail clients in opening an
account. Further information can be obtained from Sanlam Private
Investments` website www.sanlamprivateinvestments.co.za or on (021) 950-
2300.
If a prospective investor is in any way unclear as to the correct procedure
to be followed, or the terms and conditions applicable to subscriptions for
Satrix securities under the initial offer, the investor is advised to
contact his professional advisors, alternatively to contact Satrix Managers
directly on (011) 784-0641.
A controlled client should liaise with his broker, which will subscribe via
its nominated CSDP.
A non-controlled client should liaise with its nominated CSDP, which will
in turn liaise with Computershare Investor Services 2004 (Proprietary)
Limited.
Johannesburg
30 July 2007
Manager
Satrix Managers (Proprietary) Limited
Corporate advisor, legal advisor and sponsor
Java Capital (Proprietary) Limited
Trustee
Absa Bank Limited
Date: 30/07/2007 10:52:01 Produced by the JSE SENS Department.
