| Mon 3 Sep 2007, 10:25 | | NEWFSA - NEWSA Index Portfolio - Initial offer for |
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JSE
NEWFS
NEWFSA - NEWSA Index Portfolio - Initial offer for NEWSA Securities to be Listed
on the main board of the JSE in the "Exchange Traded Funds" sector
NEWSA INDEX PORTFOLIO
Share code: NEWFSA & ISIN: ZAE000104055
The NewSA Index Portfolio ("NewSA") in the Newfunds Collective Investment Scheme
in Securities ("NewFunds") registered as such in terms of the Collective
Investment Schemes Control Act, 45 of 2002, managed by NewFunds (Proprietary)
Limited (the "Manager")
INITIAL OFFER FOR NEWSA PARTICIPATORY INTERESTS ("NEWSA SECURITIES") REFERENCING
THE NEWSA INDEX (AN EQUITY INDEX COMPRISING SHARES IN THE FTSE/JSE AFRICA TOP 40
INDEX, WEIGHTED BASED ON BEE CREDENTIALS OF THE CONSTITUENT COMPANIES), 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, together with the
first Portfolio Supplement thereto (together, the "circulars") both issued on 3
September 2007, which are available as set out below.
1. INTRODUCTION
NewSA securities will track the price and yield performance of the NewSA Index
(an equity price index comprising shares in the FTSE/JSE Africa Top 40 Index,
weighted based on BEE credentials of the constituent companies), thereby giving
investors exposure to the top forty JSE listed black economic empowered
companies which have a primary listing on the JSE.
Investors will be entitled to subscribe for NewSA securities in terms of the
initial offer:
- in cash, in Rands, the proceeds from the issue of every 1 million NewSA
securities (after costs and fees) being utilised to acquire one basket of
the securities comprising the NewSA Index ("constituent securities"); or
- in specie, by the delivery of one or more whole baskets of the constituent
securities ("baskets of constituent securities") (together with a specified
amount in cash equal to transaction costs, taxes and fees and other amounts
as specified by the manager) entitling the investor to 1 million NewSA
securities per basket of constituent securities delivered.
NewSA securities will be issued in dematerialised form only on the terms and
subject to the conditions more fully described in the circulars, the value of
each of which will approximately equal 1/1 000th of the NewSA Index level.
Following the listing, securities holders may either trade their securities on
the JSE, redeem them for cash or, in respect of every 1 million NewSA securities
redeemed, redeem them for one basket of constituent securities.
2. SALIENT DATES AND TIMES AND FURTHER ANNOUNCEMENT
The initial offer will remain open from 09:00 on 3 September 2007 until 12:00 on
14 September 2007 (the "official closing date"). (Prospective investors should
contact their broker or CSDP to ascertain the closing date applicable to them as
the cut-off times applied by the CSDPs and brokers will occur earlier than the
official closing date).
Letters of Allocation will be issued in the name of successful applicants on 17
September 2007 and will convert to NewSA securities and be listed on the JSE at
commencement of trading on 19 September 2007, in respect of in specie
subscriptions and, in respect of cash subscriptions on 5 October 2007.
A further announcement containing the results of the initial offer including the
issue price will be published on SENS in due course.
3. NOTICE
NewSA securities are not in any way sponsored, endorsed, sold or promoted by the
JSE, FTSE International Limited ("FTSE"), the London Stock Exchange Plc (the
"LSE") or The Financial Times Limited ("FT") and neither the JSE, FTSE, 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 NewSA Index and/or
the figure at which the NewSA Index stands at any particular time on any
particular day or otherwise. The NewSA Index is compiled and calculated by FTSE
on behalf of and on the instructions of the Manager. 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 liable (whether in negligence or otherwise) to any person or any error
in the NewSA Index and neither FTSE, the JSE, the LSE nor FT shall be under any
obligation to advise any person of any error therein. "FTSE", "FT-SE" and
"Footsie" 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 NewSA securities are not eligible for sale in the United States or in any
other jurisdiction in which trading in them would be illegal. The NewSA
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 NewSA 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 them.
4. DIRECTORS, TRUSTEE AND REGISTERED OFFICE
The directors of the Manager are:
Director : Ethan Gilbert Dube (Non-executive)
Address : Vunani House
Freestone Park
135 Patricia Road
Sandown
Sandton, 2196
Director : Butana Mangaliso Khoza (Non-executive)
Address : Vunani House
Freestone Park
135 Patricia Road
Sandown
Sandton, 2196
Director : Alan Jonathan Miller (Non-executive)
Address : 180 Commissioner Street
Johannesburg, 2001
Director : Andries Benjamin le Grange (Non-executive)
Address : 180 Commissioner Street
Johannesburg, 2001
The trustee of NewFunds, The Standard Bank of South Africa Limited, is located
at 9th Floor, Standard Bank Centre, 5 Simmonds Street, Johannesburg.
The registered office of the Manager is located at 3rd Floor, Absa Towers East,
170 Main Street, Johannesburg, 2001.
5. COPIES OF THE CIRCULARS
Copies of the circulars, in English, may be obtained during normal business
hours from the registered office as detailed above, from 3 September 2007 until
5 October 2007.
6. SUBSCRIPTION CONDITIONS APPLICABLE TO THE INITIAL OFFER
The initial offer is subject to the conditions detailed in the circulars and as
summarised below:
- You cannot withdraw an application once submitted. It will be irrevocable.
- All subscribers for NewSA 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 Vunani Securities (Proprietary) Limited
(contact: Tracy Cornelius (011) 263-9528) or Absa Stockbrokers
(Proprietary) Limited (telephone: (011) 647-0830), which have been
appointed as the participating brokers to assist first time retail clients
in opening an account.
- 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
NewSA securities under the initial offer, the investor is advised to
contact his professional advisors, alternatively to contact NewFunds
directly on (011) 350-8395.
- 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 Absa Capital Investor Services, the issuing agent.
- Investors should note that the cut-off times applicable to the initial
offer will vary depending on the particular broker or CSDP.
Johannesburg
3 September 2007
Co-originators
Absa Capital
a division of Absa Bank Limited
and
Vunani Capital (Proprietary) Limited
Corporate advisor and sponsor
Java Capital (Proprietary) Limited
Legal advisor
Werksmans Inc
Date: 03/09/2007 10:25:01 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.
