| Mon 11 May 2009, 9:43 | | RAFRES - NewFunds eRAFI(TM) SA Resource 20 Index ETF - Initial Offer For |
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RAFRES - NewFunds eRAFI(TM) SA Resource 20 Index ETF - Initial Offer For
Newfunds eRAFI(TM) SA Resource 20 Index ETF Portfolio Participatory
Interests, to be listed on the JSE Limited.
NewFunds eRAFI(TM) SA Resource 20 Index ETF
Share code: RAFRES ISIN: ZAE000135166
A portfolio in the NewFunds Collective Investment Scheme ("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 NEWFUNDS eRAFI(TM) SA RESOURCE 20 INDEX ETF PORTFOLIO
PARTICIPATORY INTERESTS ("eRAFI(TM) RESOURCE 20 ETF SECURITIES") REFERENCING
THE PLEXUS ABSA CAPITAL eRAFI(TM) SA RESOURCE 20 INDEX ("eRAFI(TM) RESOURCE
20 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 issued on 3
September 2008 (the "offering circular"), together with the eRAFI(TM) SA
Resource 20 Index ETF Portfolio supplement (the "supplement") issued on
Monday, 11 May 2009, which is available as set out below.
1. INTRODUCTION
NewFunds is a collective investment scheme in securities, currently
comprising the NewFunds NewSA Index, NewFunds eRAFI(TM) Overall SA Index
ETF and the NewFunds Shariah Top 40 Index ETF portfolios. Securities in
the new eRAFI(TM) SA Resource 20 Index ETF Portfolio will track the
price and yield performance of the Plexus Absa Capital eRAFI(TM) SA
Resource 20 Index, thereby giving investors exposure to the 20 companies
with the largest fundamental value selected from a universe of the
resource sector companies that fall within the top 100 companies listed
on the JSE as measured by market capitalisation, including those shares
with dual listings and regardless of where they are incorporated, but
specifically excluding all inward listed securities.
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
eRAFI(TM) Resource 20 ETF securities being utilised to acquire one
basket of the securities comprising the eRAFI(TM) Resource 20 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 eRAFI(TM) Resource 20 ETF securities per
basket of constituent shares delivered.
eRAFI(TM) Resource 20 ETF Securities 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 1/1000th of the eRAFI(TM) Resource 20 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 eRAFI(TM) Resource 20 ETF 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, 11 May 2009
until 12:00 on Thursday, 4 June 2009.
LAs will be issued in the name of successful applicants on Friday, 5
June 2009 and will convert to eRAFI(TM) Resource 20 ETF securities at
commencement of trading on Monday, 15 June 2009.
A further announcement containing the results of the initial offer
including the issue price will be published on SENS on Wednesday, 10
June 2009.
3. NOTICE
NewFunds (Proprietary) Limited has been granted permission to use the
name "Plexus Absa Capital eRAFI(TM) SA Resource 20 Index".
eRAFI(TM) Resource 20 securities are not in any way sponsored, endorsed,
sold or promoted by Research Affiliates(R), LLC ("Research
Affiliates(R)") and Research Affiliates(R) makes no 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 eRAFI(TM) Resource 20 Index and/or the value at which the eRAFI(TM)
Resource 20 Index stands at any particular time on any particular day or
otherwise. The eRAFI(TM) Resource 20 Index is compiled by Research
Affiliates(R), licensed to Plexus, Absa and the Manager and jointly
calculated by RisCura. However, neither Research Affiliates(R), RisCura,
the Manager, Plexus nor Absa shall be liable (whether in negligence or
otherwise) to any person for any error in the eRAFI(TM) Resource 20
Index and shall not be under any obligation to advise any person of any
error therein.
"eRAFI(TM)" is a trademark of Research Affiliates(R) and is used by
Plexus, Absa and NewFunds under license.
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 the manager, all of whom are non-executive, are:
Director : Ethan Gilbert Dube (Nonexecutive)
Address : Vunani House, Freestone Park, 135 Patricia Road
Sandown, Sandton, 2196
Director : Butana Mangaliso Khoza (Nonexecutive)
Address : Vunani House, Freestone Park, 135 Patricia Road
Sandown, Sandton, 2196
Director : Alan Jonathan Miller (Nonexecutive)
Address : 180 Commissioner Street, Johannesburg, 2001
Director : Andries Benjamin le Grange (Nonexecutive)
Address : 180 Commissioner Street, Johannesburg, 2001
The trustee of the portfolio, 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 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
Monday, 11 May 2009 until Thursday, 4 June 2009. A copy of the circular
and the supplement will be available on the NewFunds website
(www.newfunds.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 eRAFI(TM) Resource 20 ETF securities will
be treated as primary market acquisitions. No application forms
are required.
- All subscribers for new eRAFI(TM) Resource 20 ETF 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 (`Vunani Securities") and Absa Stockbrokers (Proprietary)
Limited, who have been appointed as joint participating brokers to
assist first time retail clients in opening an account. Further
information can be obtained from Vunani Securities
(www.vunanisecurities.co.za) or on (011) 263 9528 and Absa
Stockbrokers (www.absastockbrokers.co.za or on (011) 647 0830).
- 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 eRAFI(TM) Resource 20 ETF securities under the
initial offer, the investor is advised to contact his professional
advisors, alternatively to contact NewFunds directly on (011) 895
5517.
- 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 the issuer CSDP.
11 May 2009
Manager
NewFunds (Proprietary) Limited
Corporate advisor, legal advisor and sponsor
Java Capital (Proprietary) Limited
Co-originator
Absa Bank Limited
Co-originator
Plexus Asset Management (Proprietary) Limited
Date: 11/05/2009 09:43:01 Produced by the JSE SENS Department.
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