| Mon 11 May 2009, 9:44 | | RAFIND - Newfunds eRAFI(TM) SA Industrial 25 Index ETF Portfolio |
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JSE
NFS
RAFIND - Newfunds eRAFI(TM) SA Industrial 25 Index ETF Portfolio
- Initial Offer For Newfunds eRAFI(TM) SA Industrial 25 Index ETF Portfolio
Participatory Interests to be listed on the JSE Limited
NEWFUNDS eRAFI(TM) SA INDUSTRIAL 25 INDEX ETF PORTFOLIO
Share code: RAFIND ISIN: ZAE000135182
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 ("NewFunds")
INITIAL OFFER FOR NEWFUNDS eRAFI(TM) SA INDUSTRIAL 25 INDEX ETF PORTFOLIO
PARTICIPATORY INTERESTS ("eRAFI(TM) INDUSTRIAL 25 ETF SECURITIES") REFERENCING
THE PLEXUS ABSA CAPITAL eRAFI(TM) SA INDUSTRIAL 25 INDEX ("eRAFI(TM) INDUSTRIAL
25 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 NewFunds eRAFI(TM)
SA Industrial 25 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) Industrial 25 ETF Portfolio will track the price and yield
performance of the Plexus Absa Capital eRAFI(TM) SA Industrial 25 Index,
thereby giving investors exposure to the the 25 companies with the largest
fundamental value selected from a universe of the industrial 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) Industrial 25 ETF securities being utilised to acquire one
basket of the securities comprising the eRAFI(TM) Industrial 25 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) Industrial 25 ETF securities per
basket of constituent shares delivered.
eRAFI(TM) Industrial 25 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) Industrial 25 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) Industrial 25 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 May
2009 and will convert to eRAFI(TM) Industrial 25 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 Industrial 25 Index".
eRAFI(TM) Industrial 25 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) Industrial 25
Index and/or the value at which the eRAFI(TM) Industrial 25 Index stands at
any particular time on any particular day or otherwise. The eRAFI(TM)
Industrial 25 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) Industrial 25 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 NewFunds, all of whom are non-executive, are:
Director: Alan Jonathan Miller
Address: 65 Empire Road, Parktown, 2193
Director: Andre La Grange
Address: 15 Alice Lane, Sandton, 2196
Director: Ethan Gilbert Dube
Address: Vunani House, Block C, Athol Ridge Office Park, 151
Katherine Street, Sandton
Director: Butana Mangaliso Khoza
Address: Vunani House, Block C, Athol Ridge Office Park, 151
Katherine Street, Sandton
The trustee of the portfolio, The Standard Bank of South Africa Limited, is
located at 20th Floor, Main Tower, Standard Bank Centre, Heerengracht, Cape
Town.
The registered office is located at 3rd Floor, Absa Towers East, 170 Main
Street, Johannesburg.
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) Industrial 25 ETF securities will
be treated as primary market acquisitions. No application forms are
required.
- All subscribers for new eRAFI(TM) 25 Industrial 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) Industrial 25 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 09:44:01 Produced by the JSE SENS Department.
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JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
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completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
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